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## AKVA Group ASA Financial Performance Review

AKVA group ASA (AKVA) has reported their financial performance for Q4, showing an acceptable activity level yet challenging profitability. The company delivered a revenue of MNOK 800 (779) for the quarter, reflecting a 3% increase compared to the previous year. The EBITDA also saw an increase from MNOK 27 in Q4 2022 to MNOK 41 in Q4 2023. Adjusted for costs related to the rightsizing process, the EBITDA was MNOK 51 in Q4 2023.

One of the highlights was the completion of the rightsizing process, which is expected to generate annual cost savings of MNOK 45. The company also saw sound order intake in Q4, with a backlog of BNOK 2.4 at the end of December 2023. Looking ahead, AKVA has revised their medium-term financial targets with a focus on achieving a revenue of minimum BNOK 3.6 and an EBIT of 4-5% in 2024.

While the activity level remained stable compared to the previous year, AKVA noted that the introduction of the resource tax had a negative impact on certain segments of their business. Furthermore, profitability in 2023 saw improvement but still fell below expectations. The Sea Based business segment demonstrated acceptable profitability, while the Land Based segment continued to face challenges due to a high cost base and lower profitability in parts of the project portfolio.

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The AI legalese decoder can assist AKVA in navigating through legal and financial documents with complex terminology, providing a simplified and clear understanding of legal jargon and financial reports. This can be especially useful for companies like AKVA, which operate in a highly regulated industry and need to ensure compliance with legal requirements. By utilizing the AI legalese decoder, AKVA can enhance their legal and financial comprehension, enabling better decision-making and efficient communication with stakeholders.

In summary, AKVA’s financial performance and outlook, combined with the completion of the rightsizing process, reflect both positive developments and ongoing challenges. With the support of tools like the AI legalese decoder, AKVA can continue to make informed decisions and communicate effectively in their industry.

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