AKVA Group — Interim / Quarterly Report 2015

Feb 19, 2016

Best year ever – second year in a row

Fourth Quarter 2015 and year end – HIGHLIGHTS

• All business segments with good performance in the fourth quarter – best fourth quarter ever
• Land based with best quarter ever – becoming an important part of AKVA
• Profitable Chile operation in 2015 despite challenging market conditions
• Ending the year with the highest order backlog ever
• Dividend of NOK 1.00 per share paid in November
• Best year ever financially – growth in revenues and margins
• Strong financial position

Revenues and profits for the Group

(Figures in brackets = 2014 unless other is specified)

Operations and profit

AKVA group delivered its best fourth quarter ever and finished the best year ever for the second year in a row. All business segments have good performance in Q4.

The cage based segment in Nordic continues with good performance in Q4, which usually is a low season quarter. We continue to experience a different product mix in 2015 compared to 2014. A broader range of products are contributing to the margins in 2015. Chile is able to manoeuvre through challenging marked conditions with positive earnings in 2015. UK, Canada, Turkey and Australia have all finished their best year ever financially.

Software continues with good performance and now with even better margins than previous quarters.

The land based segment is, as expected, improving the margins and delivers an EBITDA margin of 9.8% in Q4.

Continued good market activity during Q4 has materialized in the highest order backlog ever for AKVA group for the second quarter in a row.

A dividend of 1.00 NOK per share was paid to the shareholders in November 2015.

Balance sheet continues to be strong.

Total revenue in Q4 was 344.1 MNOK (305.0) with an EBITDA of 27.1 MNOK (13.4). EBIT was 13.2 MNOK (3.9).

Net financial items in Q4 was -6.3 MNOK (-1.6), resulting in a profit

before tax of 6.9 MNOK (2.3). The increase in net financial items year on year in Q4 is mostly related to currency and acquisition cost. The cost is considered to be within an acceptable level.

Net profit was 7.6 MNOK (8.6) after allowing for taxes of -0.8 MNOK (- 6.4).

2015 revenue ended at 1,425.3 MNOK (1,246.1) with an EBITDA of 135.2 MNOK (103.4). 2015 EBIT was 87.7 MNOK (67.6).

Business segments

AKVA group has organized its business into three technology segments;

Q4 2015

• Cage based technologies (CBT): Includes cages, barges, feed systems and other operational technologies and systems for cage based aquaculture,
• Land based technologies (LBT): Includes recirculation systems and technologies for land based aquaculture, and
• Software (SW): Includes software solutions and professional services.

Revenue by segments (Q4 2015)

AKVA group also has organized its business into three geographical segments;

• Nordic: Includes the Nordic countries,
• Americas: Includes Americas and Oceania, and
• Export: Includes the rest of the world.

Revenue by region (Q4 2015)

AKVA group also divide its business between CAPEX and OPEX based revenue (formerly called recurring and non-recurring business);

• CAPEX based: Revenue classified as CAPEX in our customers' accounts
• OPEX based: Revenue classified as OPEX in our customers' accounts

Revenue CAPEX or OPEX based (Q4 2015)

AKVA group business may also be divided between revenue from technology and services to salmon, other species and non-seafood;

• Salmon: Revenue from technology and services sold to production of salmon
• Other species: Revenue from technology and services sold to production of other species than salmon
• Non Seafood: Revenue from technology and services sold to non seafood customers

Revenue by species (Q4 2015)

The following information is divided into the three technology segments. Comments on the geographical segments are included if and when relevant.

Cage based technologies (CBT)

CBT revenue in Q4 was 219.9 MNOK (223.3). Revenue in the Nordic region was 135.9 MNOK (140.8), in the Americas region 44.0 MNOK (50.0) and in the Export region 40.1 MNOK (32.6).

EBITDA for CBT in Q4 was 10.1 MNOK (9.8) resulting in an EBITDA margin of 4.6% (4.4%). EBIT in Q4 was 0.9 MNOK (2.8) representing an EBIT margin of 0.4% (1.2%).

Nordic

Nordic CBT had a decent performance in Q4, which traditionally is a low season quarter.

The performance was driven by a slightly different product mix compared to 2014, i.e. a wider range of products contribute to revenue and profit in 2015 vs 2014.

Americas

Chile has completed one of the best years ever margin wise in 2015 due to reduced cost base and higher level of service sales.

Canada had a good fourth quarter and ended their best year ever. Canada is a lean and efficient operation.

Australia continues to be a small but profitable operation. They also completed their best year ever.

Export

UK ended their best year ever and continues to have a high level of OPEX based revenue.

Turkey had their best year ever and is experiencing increased activity in the Sea Bass and Sea Bream industry.

Export to emerging markets experienced a slow quarter. Emerging markets are dominated by a few but large contracts and this gives variations in the P&L quarter by quarter.

2015 revenue for CBT was 1070.9 MNOK (972.6) with an EBITDA of 94.8 MNOK (87.8). EBIT was 61.6 MNOK (61.1) after depreciations of 33.3 MNOK (26.7).

Software (SW)

Revenue for SW in Q4 was 38.4 MNOK (29.6). The EBITDA was 8.6 MNOK (4.2) resulting in an EBITDA margin of 22.4% (14.1%) and an EBIT of 5.9 MNOK (2.3) representing an EBIT margin of 15.4% (7.6%).

AKVA group Software AS continues to deliver stable and high margins, with improved revenue and margins year on year.

Wise lausnir ehf continues with improved performance year on year.

WiseDynamics Ltd in Canada, a subsidiary of Wise lausnir ehf in Iceland, was divested in November 2015. The company has contributed with marginal numbers in the Group financials and the sale gave a marginal gain of 1.5 MNOK in Q4 2015 EBITDA. This gain is included under the software segment in Q4.

Software continues to invest in new product modules, which is expected to strengthen the financial performance of the software segment further.

2015 operating revenue for SW was 132.1 MNOK (106.7) with an EBITDA

of 26.0 MNOK (15.3). EBIT was 15.7 MNOK (8.2) after depreciation of 10.3 MNOK (7.1).

Land based technologies (LBT)

LBT Q4 2015 revenue was 85.8 MNOK (52.1) with an EBITDA of 8.4 MNOK (- 0.6) and an EBIT of 6.3 MNOK (-1.2).

LBT was 25% of total Group revenue in the fourth quarter.

LBT delivered a 9.8% EBITDA in Q4. This is due to a significant improved performance year on year and quarter on quarter.

Plastsveis AS is on track with good performance in 2015.

Aquatec Solutions A/S was included in the Group P&L from Q4 and onwards. Aquatec has had a good performance as expected.

AKVA group Denmark A/S had a decent quarter, but there is still potential for further improvements financially.

The land based segment ends the quarter with a good order backlog.

2015 operating revenue was 222.3 MNOK (166.7) and 2015 EBITDA was 14.3 MNOK (0.3). The 2015 EBIT was 10.5 MNOK (-1.6) after depreciation of 3.9 MNOK (1.9).

Balance sheet and cash flow

The balance sheet remains strong.

The working capital in the Group balance sheet, defined as non-interest bearing current assets less noninterest bearing current liabilities was 126 MNOK at the end of Q4 2015, compared to 126 MNOK at the end of Q4 2014. Working capital in percentage of 12 months rolling revenue has improved YoY from 10.1% to 8.8%. We are able to maintain a low working capital despite record high activity.

Cash and unused credit facilities amounted to 160 MNOK at the end of Q4 2015 versus 144 MNOK at the end of Q4 2014. The total credit facility at Danske Bank is 90 MNOK.

Net interest-bearing debt was 136 MNOK at the end of Q4 2015 compared to 89 MNOK at the end of Q4 2014. Gross interest-bearing debt was at the end of Q4 2015 245.6 MNOK versus 142.4 MNOK at the end of Q4 2014. The short term interest bearing debt includes the next 12 months installments of the long term debt. This is in accordance to current IFRS requirements.

Investments in Q4 2015 amounted to 32.8 MNOK of which 11.9 MNOK was capitalized R&D expenses in accordance to IFRS. Total 2015 investments were 75.8 MNOK whereof 19.0 MNOK was capitalized R&D expenses in accordance to IFRS and 29.7 MNOK was related to rental. Total investments in 2014 were 49.8 MNOK whereof 17.9 MNOK was capitalized R&D expenses in accordance with IFRS. Adjusted for rental the remaining CAPEX level was relatively stable year on year.

Return on capital employed (ROCE) was 15.0% in Q4 2015 compared to 14.1% in Q4 2014.

Total assets and total equity amounted to 1,070 MNOK and 428 MNOK respectively, resulting in an equity ratio of 40.0% (43.1%) at the end of Q4 2015.

Minor change in dividend policy

AKVA group will change the timing for the half yearly dividend policy to be based on 1st and 2nd half of the year instead of previously being based on the six month periods Q4 – Q1 and Q2 – Q3. The rationale for this change is:

• Gives a more intuitive division of the year with 2nd half dividend being announced in connection with the Annual General Meeting
• Evens out more of the seasonality's in cash flow during the year

Next possible dividend pay out will be after the first half of 2016, i.e. will be announced together with the 2016 Q2 financials.

Other shareholder issues

Earnings per share in Q4 2015 was 0.28 NOK (0.34). Earnings per share in 2015 was 2.20 NOK (2.13). The calculations are based on 25,834,303 (25,834,303) shares average.

The 20 largest shareholders are presented in note 4 in this report.

According to current dividend policy, a dividend of 25.7 MNOK was paid out to the shareholders in November 2015.

The earlier announced share buyback program was according to plan completed at the end of November 2015. At December 31 st, 2015 AKVA group ASA had 123,000 own shares at an average price of 33.86 NOK in the balance sheet. The shares are booked as equity in the balance sheet at end of 2015, respectively reducing share capital with 1 NOK per share and the

remaining cost reducing other equity. These shares were used for the Group's stock and incentive program for own employees. The shares was delivered to the participating employees in January 2016. AKVA group have 302 own shares remaining in the balance sheet after allocation of shares to employees in January 2016. Please find published stock notices for more details on this share incentive program.

Atlantis Subsea Farming AS

In partnership with the companies Sinkaberg-Hansen AS and Egersund Net AS, AKVA group ASA has established the company ATLANTIS SUBSEA FARMING AS with the purpose of developing submersible fish-farming facilities for salmon on an industrial scale. ATLANTIS SUBSEA FARMING AS has applied for six development licences to enable largescale development and testing of the new technology and operational concept.

The work on Atlantis started in summer 2014, and experts from all three companies have been and will continue to be involved in the work with the ATLANTIS concept.

Through its innovative development work, ATLANTIS aims both to contribute to better and more sustainable use of current farming sites as well as to enable use of more exposed sites than is currently possible. The goal is to achieve production gains and improve fish welfare by submerging the facilities, as they will be far less exposed to the environmental and physical conditions than in a surface position.

Large-scale testing will focus on thirdparty documentation of fish welfare and production performance, the technological capabilities of the system, and safeguarding the occupational health and safety of employees.

There are many risks associated with the project, and the testing of the technological and operational solutions requires large-scale testing beyond what can be done in today's fish farms based on traditional operating methods. The further progress of the project and our ability to ensure a methodical approach thus depend on us being granted development licences.

Although ATLANTIS represents a significant leap forward in terms of innovation, it is also an objective for the concept to keep costs at a level that helps strengthen the industry's competitive position. The aim is also that the technology and operating methods developed through ATLANTIS can be made available and adopted by the industry relatively quickly.

Market and future outlook

We have experienced continued good market activity throughout the second half of 2015 and this has been the best second half in terms of order inflow ever for AKVA. The order inflow in the second half was 854 MNOK (MNOK 661).

The order inflow in Q4 was 350 MNOK (460). The order backlog at the end of Q4 was 649 MNOK (504). This is the highest order backlog ever for AKVA group.

We have a good mid term outlook due to high market activity and the large order backlog. The activity level is particularly high in the Nordic market segment.

The strong demand in the Nordic cages based segment continues into the new year, with shift towards sale of technology for more efficient production.

The land based segment has experienced increased activity in 2015 and this higher level of activity is expected to continue. The land based segment is becoming a larger part of AKVA group.

UK and Canada experienced slightly less project sales so far in the new year compared to last year. Despite this both entities are expected to perform well.

We have continuing low expectations in Chile due to the challenging situation for our Chilean customers. Our exposure in Chile is reduced over the last years.

Our Turkey and Australian operations are expected to continue to perform well in the next quarters with a good order backlog.

Exports to emerging markets has a more optimistic start of the year than last year. The activity is still expected to fluctuate due to the nature of the business.

We continue our effort to build service and after sales as a key business element in all markets and segments

Selected disclosure notes

Note 1 General information and basis for preparation

AKVA group consists of AKVA group ASA and its subsidiaries. There have been no significant changes in the Group's legal structure since year-end 2014. Aquatec Solutions A/S was included as a 100% owned subsidiary of AKVA group ASA from September 30th, 2015. Please see the Q3 2015 report and notifications to the Oslo Stock Exchange in Q3 2015 for more details about the Aquatec Solutions A/S acquisition.

The condensed consolidated interim financial statements are unaudited. Because of rounding differences, numbers or percentages may not add up to the total. The consolidated financial statements for the Group for the year ended December 31st , 2014 are available upon request from the company's registered head office at Nordlysveien 4, 4340 Bryne, Norway or at http://ir.akvagroup.com/investorrelations/financial-info-/annual-reports.

These interim financial statements are prepared in accordance with International Financial Reporting Standards and interpretations (IFRS), as issued by the International Accounting Standards Board (IASB) and as adopted by EU (EU-IFRS), including International Accounting Standard 34, Interim Financial Reporting. The quarterly report does not include all information and disclosures required in the annual financial statements and should be read in connection with the Group's Annual Report for 2014.

Note 2 Business segments

AKVA group is organized in three business segments; Cage based technologies, Software and Land based technologies. The same accounting principles as described for the Group financial statements have been applied for the segment reporting. Inter-segment transfers or transactions are entered into under normal commercial terms and conditions, and the measurement used in the segment reporting is the same as used for the actual transactions.

Note 3 Recognition and measurement of assets and liabilities in connection with the Aquatec Solutions A/S acquisition

The recognition and measurement of assets and liabilities in connection with the Aquatec Solutions A/S acquisition is final in the consolidated financial statement as of December 31 th, 2015. IFRS 3 permits adjustments to items recognized in the original accounting for business combination, for a maximum of one year after the acquisition date, if and when new information about facts and circumstances existing at the acquisition date is obtained.

Note 4 Top 20 shareholders as of December 31 st, 2015

		Number	of	Ownership
Shareholders	Citizenship	shares held		percentage
EGERSUND GROUP AS	NOR	13 203 105		51,1
WHEATSHEAF INVESTMENT	GBR	3 900 000		15,1
VERDIPAPIRFONDET ALFRED	NOR		814 886	3,2
MP PENSJON PK	NOR		539 300	2,1
SKANDINAVISKA ENSKILDA	LUX		518 000	2,0
EIKA NORGE	NOR		489 417	1,9
STATOIL PENSJON	NOR		397 904	1,5
VERDIPAPIRFONDET DNB	NOR		390 000	1,5
VPF NORDEA KAPITAL	NOR		301 700	1,2
MERTOUN CAPITAL AS	NOR		300 000	1,2
OLE MOLAUG EIENDOM AS	NOR		238 692	0,9
VERDIPAPIRFONDET EIKA	NOR		208 100	0,8
DAHLE BJØRN	NOR		196 300	0,8
VPF NORDEA AVKASTNING	NOR		180 000	0,7
ROGALAND SJØ AS	NOR		173 550	0,7
HAVBRUKSCONSULT AS	NOR		166 000	0,6
UBS (LUXEMBOURG) S.A	LUX		146 537	0,6
SIX SIS AG	CHE		130 000	0,5
AKVA GROUP ASA	NOR		123 000	0,5
MOLAUG OLE	NOR		114 752	0,4
20 largest shareholders		22 531 243		87,2
Other shareholders		3 303 060		12,8
Total shares		25 834 303		100,0

An updated overview of the 20 largest shareholders is available on AKVA group's investor relations webpage, http://ir.akvagroup.com/investor-relations/theshare/largest-shareholders.

Statement from the Board and Chief Executive Officer

We confirm that, to the best of our knowledge, the condensed set of financial statements for the period January 1 st to December 31 st 2015, which have been prepared in accordance with IAS 34 Interim Financial Statements, gives a true and fair view of the Company's consolidated assets, liabilities, financial position and results of operations, and that the interim management report includes a fair review of the information required under the Norwegian Securities Trading Act section 5-6 fourth paragraph.

Bryne, February 18 th , 2016 Board of Directors, AKVA group ASA

Main figures from financial accounts

INCOME STATEMENT	2015	2014	2015	2014	2014
(NOK 1 000)	Q4	Q4	YTD	YTD	Total
OPERATING REVENUES	344 077	305 046	1 425 338	1 246 058	1 246 058
Operating costs ex depreciations	316 947	291 668	1 290 179	1 142 694	1 142 694
OPERATING PROFIT BEFORE DEPR.(EBITDA)	27 130	13 378	135 159	103 364	103 364
Depreciation	13 943	9 512	47 450	35 729	35 729
OPERATING PROFIT (EBIT)	13 187	3 866	87 709	67 635	67 635
Net interest expense	-1 736	-748	-5 354	-4 784	-4 784
Other financial items	-4 564	-858	-4 265	43	43
Net financial items	-6 301	-1 607	-9 619	-4 741	-4 741
PROFIT BEFORE TAX	6 887	2 259	78 090	62 894	62 894
Taxes	-751	-6 379	19 690	8 394	8 394
NET PROFIT	7 638	8 638	58 400	54 500	54 499
Net profit (loss) attributable to:
Non-controlling interests	378	-241	1 572	-580	-580
Equity holders of AKVA group ASA	7 260	8 879	56 828	55 079	55 079
Earnings per share equity holders of AKVA group ASA	0,28	0,34	2,20	2,13	2,13
Average number of shares outstanding (in 1 000)	25 834	25 834	25 834	25 834	25 834
BALANCE SHEET			2015	2014	2014
(NOK 1 000)			31.12.	31.12.	31.12.
Intangible fixed assets			348 130	278 083	278 083
Fixed assets			103 495	74 009	74 009
Long-term financial assets			8 165	1 896	1 896
FIXED ASSETS			459 790	353 988	353 988
Stock			180 677	167 238	167 238
Trade receivables			232 115	210 755	210 755
Other receivables			88 369	117 905	117 905
Cash and cash equivalents			109 517	53 935	53 935
CURRENT ASSETS			610 678	549 833	549 833
TOTAL ASSETS			1 070 468	903 821	903 821
			355 426	355 549	355 549
Paid in capital			69 562	32 027	32 027
Retained equity			424 988	387 577	387 577
Equity attributable to equity holders of AKVA group ASA
Non-controlling interests			3 444	1 676	1 676
TOTAL EQUITY			428 432	389 252	389 252
Deferred tax			5 448	-
Other long term debt			15 495	2 677	- 2 677
			188 375	128 667	128 667
Long-term interest bearing debt LONG-TERM DEBT			209 319	131 344	131 344
Short-term interest bearing debt			57 258	13 779	13 779
Other current liabilities			375 459	369 446	369 446
SHORT-TERM DEBT			432 717	383 225	383 225
TOTAL EQUITY AND DEBT			1 070 468	903 821	903 821
CHANGES IN EQUITY	2015	2014	2015	2014	2014
(NOK 1 000)	Q4	Q4	YTD	YTD	Total

(NOK 1 000)	Q4	Q4	YTD	YTD	Total
Book equity before non-controlling interests at the beginning of the period	439 498	374 910	387 577	336 601	336 601
The period's net profit	7 260	8 878	56 828	55 079	55 079
Capital increase	-	-	-	-	-
Non-controlling interests arising on a business combination	-196	-	-196	-	-
Buyback of ow n shares	-3 272	-	-4 173	-	-
Gains/(losses) on cash flow hedges (fair value)	145	7 853	-5 046	5 150	5 150
Utbytte/Dividend	-25 736	-25 834	-25 736	-25 834	-25 834
Change in pension liability recorded against equity	-	-	-	-	-
Recording of option agreement	-	-1 344	-	-1 344	-1 344
Translation differences	7 289	25 030	15 735	17 925	17 925
Equity before non-controlling interests	424 988	389 493	424 988	387 577	387 577
Non-controlling interests	3 444	-241	3 444	1 676	1 676
Book equity at the end of the period	428 432	389 252	428 432	389 252	389 252

Q4 2015

CASH FLOW STATEMENT	2015	2014	2015	2014	2014
(NOK 1 000)	Q4	Q4	YTD	YTD	Total
Net cash flow from operations	20 049	9 546	120 240	98 590	98 590
Net cash flow from change in w orking capital	-10 976	-8 740	-22 520	-12 501	-12 501
Net cash flow from operational activities	9 072	807	97 720	86 088	86 088
Net cash flow from investment activities	-6 379	-18 426	-116 557	-66 190	-66 190
Net cash flow from financial activities	-29 380	-25 923	74 419	-24 294	-24 294
Net change in cash and cash equivalents	-26 686	-43 542	55 582	-4 395	-4 395
Cash and cash equivalents at the beginning of the period	136 203	97 477	53 935	58 330	58 330
Cash and cash equivalents at the end of the period	109 517	53 935	109 517	53 935	53 935

BUSINESS SEGMENTS	2015	2014	2015	2014	2014
(NOK 1 000)	Q4	Q4	YTD	YTD	Total
Cage based technologies
Nordic operating revenues	135 862	140 780	647 287	640 075	640 075
Americas operating revenues	43 963	49 955	231 542	174 432	174 432
Export operating revenues	40 091	32 615	192 098	158 078	158 078
TOTAL OPERATING REVENUES HARDWARE	219 916	223 350	1 070 927	972 584	972 584
Operating costs ex depreciations	209 800	213 562	976 102	884 812	884 812
OPERATING PROFIT BEFORE DEPRECIATIONS (EBITDA)	10 116	9 787	94 824	87 773	87 773
Depreciation	9 195	7 027	33 254	26 701	26 701
OPERATING PROFIT (EBIT)	922	2 760	61 570	61 072	61 072
Software
Nordic operating revenues	34 056	24 633	108 061	86 530	86 530
Americas operating revenues	3 462	4 505	21 335	18 302	18 302
Export operating revenues	890	457	2 696	1 906	1 906
OPERATING REVENUES	38 408	29 595	132 092	106 737	106 737
Operating costs ex depreciations	29 809	25 430	106 092	91 444	91 444
OPERATING PROFIT BEFORE DEPRECIATIONS (EBITDA)	8 599	4 165	25 999	15 293	15 293
Depreciation	2 684	1 908	10 331	7 087	7 087
OPERATING PROFIT (EBIT)	5 915	2 257	15 668	8 206	8 206
Land based technologies
Nordic operating revenues	81 608	48 875	214 658	157 320	157 320
Americas operating revenues	4 144	3 226	7 661	9 417	9 417
Export operating revenues	-	-	-	-	-
OPERATING REVENUES	85 752	52 102	222 319	166 736	166 736
Operating costs ex depreciations	77 339	52 676	207 984	166 438	166 438
OPERATING PROFIT BEFORE DEPRECIATIONS (EBITDA)	8 413	-574	14 335	298	298
Depreciation	2 064	577	3 865	1 941	1 941
OPERATING PROFIT (EBIT)	6 350	-1 151	10 469	-1 642	-1 642

AKVA group ASA,

Nordlysvn.4 P.O. Box 271, N-4349 Bryne Norway

Tel +47 51 77 85 00. Fax +47 51 77 85 01.

www.akvagroup.com

Other AKVA group offices:

AKVA group, Oslo	Tel (+47) 51 77 85 00
AKVA group, Trondheim	Tel (+47) 73 84 28 00
AKVA group, Brønnøysund	Tel (+47) 75 00 66 00
AKVA group, Sandstad	Tel (+47) 72 44 11 00
AKVA group, Mo i Rana	Tel (+47) 75 14 37 50
AKVA group, Tromsø	Tel (+47) 75 00 66 50
Helgeland Plast, Mo i Rana	Tel (+47) 75 14 37 50
Plastsveis, Sømna	Tel (+47) 75 02 78 80
YesMaritime AS, Bergen	Tel (+47) 55 91 04 67
Rogaland Sjøtjenester AS, Hjelmeland	Tel (+47) 55 91 04 67
Wise ehf, Reykjavik	Tel (+354) 545 3200
Wise Blue, Ålesund	Tel (+47) 930 03 470
Aquatec Solutions, Vejle	Tel (+45) 75 88 02 22
AKVA group Denmark, Copenhagen	Tel (+45) 755 13 211
AKVA group Denmark, Fredericia	Tel (+45) 755 13 211
AKVA group Chile, Puerto Montt.	Tel (+56) 65 250 250
AKVA group UK, Inverness.	Tel (+44) 1463 221 444
AKVA group North America, Campbell River, Canada	Tel (+1) 250 286 8802
AKVA group North America, Halifax, Canada	Tel (+1) 902 482 2663
AKVA group Australia, Tasmania	Tel (+61) 400 167 188
AKVA group Turkey, Bodrum	Tel (+90) 252 374 6434