Gullestad P.,The Norwegian Directorate of Fisheries |
Blom G.,The Norwegian Directorate of Fisheries |
Bakke G.,The Norwegian Directorate of Fisheries |
Bogstad B.,Norwegian Institute of Marine Research
Marine Policy | Year: 2015
A source to long-term increased catches and profitability for the fishing fleet is the reduction of discards and improvements in exploitation patterns. This article details the development of Norwegian regulatory measures to this end, in particular the introduction of a discard ban and the Barents Sea programme of real-time closures of fishing areas. Actual benefits of this policy are outlined. © 2014 The Authors.
Skiftesvik A.B.,Norwegian Institute of Marine Research |
Blom G.,The Norwegian Directorate of Fisheries |
Agnalt A.-L.,Norwegian Institute of Marine Research |
Durif C.M.F.,Norwegian Institute of Marine Research |
And 9 more authors.
Marine Biology Research | Year: 2014
Several species of wrasse (Labridae) are used as cleaner fish to remove salmon lice from farmed Atlantic salmon. We estimated the fishery and use of wrasse in Hardangerfjord. The estimated numbers of labrids used on salmon and rainbow trout farms varied between 86,000 and 251,000 from 2002-2006, but increased to as much as 1.1 million in 2009 and 2010. A total of 93,500 kg (around 1.54 million) labrids were reported landed during 2000-2010. Corkwing wrasse (Symphodus melops) was by far the most important wrasse species: 52% by weight and 56% by number. Ballan wrasse (Labrus bergylta) made up 34% by weight but only 14% by number (due to its larger size). The relative proportion of species between the different sampling locations in the fjord was significantly different, as was the condition factor of some species. Goldsinny wrasse (Ctenolabrus rupestris) had the slowest growth of the labrids in this study, and did not reach the minimum commercial catch size (11 cm) before they were 4-5 years old. Very few goldsinny caught were over that size. Corkwing reach commercial size in 1-2 years. The results of this study indicate that wrasse should be protected during the spawning season. Species such as goldsinny grow so slowly that they will most likely be collected several times in heavily fished areas but discarded because they are smaller than the minimum allowable size. This could be avoided through the use of modified traps with escape routes for undersized fish. This study represents a first step towards establishing a knowledge-based management plan for the wrasse fishery. © 2014 The Author(s).
News Article | February 22, 2017
AKVA group completed fourth quarter with record high sales and order intake. The revenue in fourth quarter of 2016 ended on 449 MNOK (344 MNOK) with an EBITDA of 24 MNOK (27 MNOK). Fourth quarter EBITDA margin was 5.3% (7.9%). EBITDA in the quarter hampered by material restructuring cost of 19.9 MNOK related to AKVA group Denmark. AKVA group is ending the quarter with an order backlog of approximately 1 BNOK. The growth strategy in AKVA group continues with the acquisition of Sperre AS, a leading ROV and subsea provider to the aquaculture industry and investments in increased capacity in Helgeland Plast AS. Cage Based Technology (CBT) The cage based segment in the Nordic region had an increase in revenues of 72% YoY. EBITDA was up from 10.3 MNOK in Q4 2015 to 26.9 MNOK in Q4 2016. All entities are contributing well. The Farming Services operations is increasing and strengthening the Group. We saw increased activity in Chile in Q4 and they deliver a positive EBITDA of 1.8 MNOK after several poor quarters. Q4 in Canada was slow as regards to new sales, but the area continue to deliver good margins. Australia remain a small, but profitable operation. In Scotland the OPEX based revenue and service sales performed very well and offset a more quiet project market. The Turkish operation continued to improve and quarterly financial performance were good. We continue to see increased activity in the Sea Bass and Sea Bream industry in the Mediterranean and the outlook for 2017 is positive. Export to emerging markets have mainly deliveries to Iran in Q4. Emerging markets are dominated by a few but large contracts and this will continue to give variations in the P&L quarter by quarter. Software (SW) AKVA group Software has stable performance YoY. Wise Ehf experience somewhat lower margins due to accelerating salary costs in Iceland.Overall, the software segment had improved performance year on year, with higher topline and stable margins. The Software segment has ongoing investments in new product modules expected to strengthen the financial performance of the SW segment going forward. Land Based Technology (LBT) The land based segment with Aquatec Solutions and Plastsveis performed very well with good margins and ending the year with a high order backlog. However, restructuring costs and one-off expenses relating to AKVA group Denmark reduced the overall EBITDA for the segment by 19.9 MNOK in Q4. The EBITDA was also offset by a 4 MNOK earn-out to former shareholders of Aquatec Solutions. The land based segment ended the quarter with a strong order backlog, representing 41% of the total backlog for the Group at end of 2016. Order Backlog We have experienced continued good market activity throughout the fourth quarter of 2016. The order intake in Q4 2016 was 561 MNOK (350 MNOK). The order backlog at the end of Q4 2016 was 998 MNOK (649 MNOK). This is the highest order backlog ever for AKVA group. Balance sheet The balance sheet is strong and we had a strong operational cash flow in Q4. Working capital as a percentage of 12 months rolling revenue is 2.2% (8.8%). We are able to maintain a very low working capital despite record high activity. Cash and unused credit facilities amounted to 256 MNOK at the end of Q4 (160 MNOK).Total assets and total equity amounted to 1,307 MNOK (1,083 MNOK) and 452 MNOK (428 MNOK) respectively, resulting in an equity ratio of 35% (40%) at the end of Q4. Acquisition of Sperre AS - the leading ROV provider Sperre AS will be the "center of excellence" in AKVA group in terms of ROV technologies as well as relevant subsea technologies. AKVA group ASA acquired 66% of the shares in Sperre AS. The closing of the transaction took place on November 4th, 2016. The enterprice value on a 100% basis was NOK 126.9 million for Sperre AS. The Minority Shareholder has an option to sell to AKVA, and AKVA has an option to purchase from the Minority Shareholder the remaining 34% of the shares after three years, where the pricing is based on financial performance in the three-year period. The acquisition was paid in cash and was financed with a loan from Danske Bank. Atlantis Subsea Farming AS In partnership with the companies Sinkaberg-Hansen AS and Egersund Net AS, AKVA group ASA established the company Atlantis Subsea Farming AS on February 1st, 2016 with the purpose of developing submersible fish-farming facilities for salmon on an industrial scale. Atlantis Subsea Farming AS has applied for six development licenses to enable large-scale development and testing of the new technology and operational concept. On November 26th The Norwegian Directorate of Fisheries informed Atlantis Subsea Farming that the concept for submersible farms fell within the general scope of the scheme for awarding development fish-farming licenses, and that the Directorate will continue on to consider the concept further with an objective to award one or more licenses. Atlantis Subsea Farming AS has engaged in a process with the Directorate to provide additional information, including target financial criteria for the concept. Dividend A dividend of NOK 0.50 per share will be paid out in Q1 2017. Total dividend pay out in Q1 2017 will be 12.9 MNOK. The dividend is in accordance to AKVA group's current dividend policy. For further details on dividend please read the full fourth quarter report and/or a separate stock notice regarding dividend. Outlook Biological conditions remains challenging for core customers and thus focus on solutions to improve productivity and efficiency. At the same time customers experience record earnings and cash flow. We see this being reflected in high activity level in the Nordic cage based segment. We expect increased activity in UK and Chile in 2017 and a solid recovery compared to 2016. In Canada we are facing somewhat increased competition in the market and we have moderate expectations for the development in 2017. The activity in the Mediterranean represents an upside potential and we will focus our resources in this region over the next quarters. The land based segment is growing in AKVA group with very high activity level. A key for AKVA group is to be selective and focus on project execution. Service and after sales in the Nordic region has potential for further improvements and we will put additional focus on this going forward. There is also an untapped potential for the current core business, particularly within sourcing and supply chain. About AKVA group AKVA group is a technology and service partner to the aquaculture industry worldwide. The company has 792 employees, offices in 8 countries and a total turnover of NOK 1.6 billion in 2016. We are a public listed company operating in one of the world's fastest growing industries and supply everything from single components to complete installations, both for cage farming and land based aquaculture. AKVA group is recognized as a pioneer and technology leader through more than 30 years. The Corporate Headquarter is in Bryne Norway.
News Article | November 26, 2016
The Norwegian Directorate of Fisheries has informed Atlantis Subsea Farming AS (the "Company") that the Company's concept for submersible farms falls within the general scope of the scheme for awarding development fish-farming licenses, and that the Directorate now will consider the concept further with a view to award one or more licenses. The Company will now engage in a process with the Directorate of Fisheries were requested additional information will be provided, including target financial criteria for the concept. The Company is owned with equal stakes by AKVA group ASA, Sinkaberg-Hansen AS and Egersund Net AS. This information is subject of the disclosure requirements acc. to §5-12 vphl
News Article | November 28, 2016
Bergen, Norway, Nov. 28, 2016 (GLOBE NEWSWIRE) -- On 10 February 2016 Marine Harvest applied for 14 development licenses in relation to the concept "the Egg". The Egg represents a new enclosed technology within salmon farming and has many advantages to conventional farmed salmon production in regards to minimize environmental impact and increase value creation. The Norwegian Directorate of Fisheries has now informed Marine Harvest that the Egg concept qualifies in general for the development licenses scheme and that they may award four development licenses for this project. Marine Harvest is very pleased with the positive feedback from the Directorate of Fisheries and we are encouraged to see that the authority shares our view that the Egg concept represents a new technology which may contribute to move the salmon industry forward. We will continue to work with the authorities, and hope they will reach a final conclusion imminently in order for the project to commence. To date Marine Harvest has applied for 34 development licenses for four concepts. This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.