AKER SOLTNS ASA UNSP/ADR - AKRYY STOCK NEWS

Aker Solutions reported strong Q3 2024 results with revenue increasing to NOK 13.2 billion from NOK 9.1 billion year-over-year. EBITDA reached NOK 1.2 billion with a 9.2% margin. The company maintains a robust net cash position of NOK 11.7 billion and secured order backlog of NOK 64.7 billion. Based on strong performance, the Board proposed an extraordinary dividend of NOK 21 per share. Full-year 2024 revenue is expected to grow by over 40% compared to 2023, with EBITDA margins around 7.5% excluding OneSubsea income.

Aker Solutions reported strong financial performance for Q2 and H1 2024, achieving significant year-on-year growth. Q2 revenue reached NOK 12.8 billion, a 45% increase from the same period last year, while EBITDA rose to NOK 1.2 billion, reflecting a margin of 9.5%. Earnings per share stood at NOK 1.78. The company has a robust order intake of NOK 15.5 billion and a secured backlog of NOK 71.4 billion, ensuring long-term activity visibility. For H1 2024, revenues were NOK 24.3 billion with an EBITDA of NOK 2.2 billion. Aker Solutions expects 2024 revenues to hit NOK 50 billion, a 40% year-on-year growth, with an EBITDA margin of 7.5%. Key achievements include successful project milestones and new contracts, highlighting strong operational performance and strategic market positioning.

Aker Solutions has announced plans to double its consultancy business, rebranding it as Entr, with aspirations to double revenues and headcount by 2030. This growth will be driven by increasing demand for early phase offerings and adapting services for new markets. Entr plans to expand its workforce from 300 to over 600 employees globally. The consultancy secured 170 studies in areas such as low carbon solutions and offshore wind. Entr aims to de-risk commercial, technical, and ESG aspects of energy projects, leveraging Aker Solutions' extensive industry expertise and project delivery heritage. The company launched its consultancy business in 2021, aiming to engage earlier in the value chain and further accelerate its transformation within the global energy industry.

Aker Solutions ASA reported strong revenue growth and improved profitability in the first quarter of 2024 compared to the same period last year. The company achieved revenue of NOK 11.5 billion, EBITDA of NOK 987 million, and an EBITDA margin of 8.6 percent. Order intake was NOK 7.0 billion with an order backlog of NOK 68.7 billion. The CEO highlighted solid operational performance and project execution. The outlook is positive with a high order backlog and expected revenue increase for 2024.

Aker Solutions releases its annual report, remuneration report, and corporate governance report for 2023, correcting a file name error in the financial statements published in ESEF format. Contact information provided for investor and media inquiries.

Aker Solutions releases its annual report, remuneration report, and corporate governance report for 2023, along with financial statements in ESEF format. The reports are accessible on their website.

Aker Solutions achieved solid financial performance in Q4 2023 and full-year 2023, with increasing revenue and margins. The company expects revenue to be up by around 15 percent in 2024 from 2023, and plans to pay dividends of NOK 2.00 per share for 2023 and implement a share buyback program of up to NOK 500 million for 2024. The company secured orders worth NOK 14.6 billion in Q4, and the total order intake for 2023 was NOK 35.3 billion. The secured backlog at the end of the year was NOK 72.7 billion, dominated by projects under the well-proven alliance model with Aker BP. The company also closed the transaction to form the OneSubsea joint venture in early October 2023, which reported revenues in Q4 of NOK 10.7 billion with an EBITDA margin of 19 percent. The outlook remains positive, with anticipated increased market activity and continued high demand for its services and solutions across the energy market.

Aker Solutions delivered a strong quarter with growth in revenues, margins, and cash generation. The company announced the final closing of the OneSubsea joint venture, receiving USD 700 million and retaining a 20 percent ownership. Financial highlights include revenue of NOK 14.3 billion, EBITDA of NOK 1.5 billion, EBITDA margin of 10.6 percent, earnings per share of NOK 2.04, net cash position of NOK 7.4 billion, order intake of NOK 6.8 billion, and order backlog of NOK 90.0 billion.