Knut Nesse
Chief Executive Officer

Ladies and gentlemen, good morning, and very much welcome to the Q1 presentation of AKVA Group. I will do the introduction and highlights. Ronny Meinkoehn, our CFO, will do the financial performance, and then we will do a Q&A session. So please post any questions during the presentation, and our moderator will read the questions.

Kicking off with the highlights for the first quarter. We had a quarterly revenue of NOK 1.140 billion and record high quarterly EBIT of NOK 91 million. Strong order intake of around NOK 1.5 billion and order backlog of NOK 2.8 billion at the end of Q1 2026. Our last contract with value of approx NOK 200 million was awarded from Ardal Aqua in February and earlier announced. And a small contract of EUR 28 million was awarded from Laxey in April and then -- will then be part of the order backlog for Q2.

Four new barges for the international market were awarded in Q1 with a total contract value estimated of EUR 6 million. Acquisition of remaining shares of Submerged was completed during Q1. That's our smart camera solution. Now we are the 100% owner and a dividend of NOK 1 per share were paid on April 21. And also the strategic review was announced the start of April to maximize shareholder value. I will comment on that a bit later in the presentation.

Key figures for Q1 2026, record high activity level of NOK 1.140 billion, which is representing 13% higher than a year ago. EBITDA came in at NOK 153 million, where Sea Based landed at NOK 99 million, Land Based at NOK