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Aker Solutions ASA: Fourth-quarter and full-year 2024 results

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Aker Solutions reported strong financial results for 2024, with revenue reaching NOK 53.2 billion, representing a 47% year-on-year growth. The company's EBITDA excluding special items was NOK 4.6 billion with an 8.7% margin, up from NOK 1.3 billion in 2023. The order backlog remains solid at NOK 61 billion, with a tender pipeline of NOK 86 billion.

For 2025, Aker Solutions projects revenues between NOK 50-55 billion with EBITDA margins of 7.0-7.5%. The company's 20% stake in OneSubsea is expected to yield significant returns, with OneSubsea targeting dividend distributions exceeding USD 250 million to shareholders in 2025. The Board proposes a dividend of NOK 3.30 per share for 2024, representing approximately 50% of net income excluding special items.

Aker Solutions ha riportato risultati finanziari solidi per il 2024, con un fatturato che ha raggiunto NOK 53,2 miliardi, rappresentando una crescita del 47% rispetto all'anno precedente. L'EBITDA della società, esclusi gli elementi straordinari, è stato di NOK 4,6 miliardi con un margine dell'8,7%, in aumento rispetto a NOK 1,3 miliardi nel 2023. Il portafoglio ordini rimane forte a NOK 61 miliardi, con un pipeline di gare di NOK 86 miliardi.

Per il 2025, Aker Solutions prevede entrate tra NOK 50-55 miliardi con margini EBITDA del 7,0-7,5%. La partecipazione del 20% della società in OneSubsea dovrebbe generare ritorni significativi, con OneSubsea che mira a distribuzioni di dividendi superiori a USD 250 milioni agli azionisti nel 2025. Il Consiglio propone un dividendo di NOK 3,30 per azione per il 2024, che rappresenta circa il 50% dell'utile netto escluse le voci straordinarie.

Aker Solutions reportó resultados financieros sólidos para 2024, con ingresos que alcanzaron NOK 53.2 mil millones, lo que representa un crecimiento del 47% en comparación con el año anterior. El EBITDA de la compañía, excluyendo elementos especiales, fue de NOK 4.6 mil millones con un margen del 8.7%, un aumento respecto a NOK 1.3 mil millones en 2023. El backlog de órdenes se mantiene sólido en NOK 61 mil millones, con un pipeline de licitaciones de NOK 86 mil millones.

Para 2025, Aker Solutions proyecta ingresos entre NOK 50-55 mil millones con márgenes de EBITDA del 7.0-7.5%. Se espera que la participación del 20% de la compañía en OneSubsea genere retornos significativos, con OneSubsea apuntando a distribuciones de dividendos que superen USD 250 millones a los accionistas en 2025. La Junta propone un dividendo de NOK 3.30 por acción para 2024, lo que representa aproximadamente el 50% de las ganancias netas excluyendo elementos especiales.

Aker Solutions는 2024년 강력한 재무 결과를 보고했으며, 수익은 NOK 532억에 도달하여 전년 대비 47% 성장한 것으로 나타났습니다. 이 회사의 특수 항목을 제외한 EBITDA는 NOK 46억으로 8.7%의 마진을 기록했으며, 2023년의 NOK 13억에서 증가했습니다. 수주 잔고는 NOK 610억이며, 입찰 파이프라인은 NOK 860억입니다.

2025년에 대해 Aker Solutions는 NOK 500-550억의 매출과 7.0-7.5%의 EBITDA 마진을 전망하고 있습니다. 회사의 OneSubsea에 대한 20% 지분은 상당한 수익을 창출할 것으로 예상되며, OneSubsea는 2025년에 주주에게 USD 2억 5천만 이상의 배당금 지급을 목표로 하고 있습니다. 이사회는 2024년 주당 NOK 3.30의 배당금을 제안하며, 이는 특별 항목을 제외한 순이익의 약 50%에 해당합니다.

Aker Solutions a annoncé des résultats financiers solides pour 2024, avec un chiffre d'affaires atteignant NOK 53,2 milliards, représentant une croissance de 47% par rapport à l'année précédente. L'EBITDA de l'entreprise, hors éléments spéciaux, s'élevait à NOK 4,6 milliards avec une marge de 8,7%, en hausse par rapport à NOK 1,3 milliard en 2023. Le carnet de commandes reste solide à NOK 61 milliards, avec un pipeline d'appels d'offres de NOK 86 milliards.

Pour 2025, Aker Solutions prévoit un chiffre d'affaires compris entre NOK 50-55 milliards avec des marges EBITDA de 7,0 à 7,5%. La participation de 20% de l'entreprise dans OneSubsea devrait générer des retours significatifs, OneSubsea visant des distributions de dividendes dépassant USD 250 millions aux actionnaires en 2025. Le Conseil propose un dividende de NOK 3,30 par action pour 2024, représentant environ 50% du bénéfice net hors éléments spéciaux.

Aker Solutions hat für 2024 starke Finanzergebnisse gemeldet, mit einem Umsatz von NOK 53,2 Milliarden, was einem Wachstum von 47% im Jahresvergleich entspricht. Das EBITDA des Unternehmens ohne Sonderposten betrug NOK 4,6 Milliarden mit einer Marge von 8,7%, im Vergleich zu NOK 1,3 Milliarden im Jahr 2023. Der Auftragsbestand bleibt solide bei NOK 61 Milliarden, mit einer Ausschreibungspipeline von NOK 86 Milliarden.

Für 2025 prognostiziert Aker Solutions Umsätze zwischen NOK 50-55 Milliarden mit EBITDA-Margen von 7,0-7,5%. Der 20% Anteil des Unternehmens an OneSubsea wird voraussichtlich erhebliche Erträge abwerfen, wobei OneSubsea Dividendenzahlungen an die Aktionäre von über USD 250 Millionen für 2025 anstrebt. Der Vorstand schlägt eine Dividende von NOK 3,30 pro Aktie für 2024 vor, was etwa 50% des Nettoergebnisses ohne Sonderposten entspricht.

Positive
  • Revenue grew 47% year-over-year to NOK 53.2 billion
  • EBITDA margin improved to 8.7% from 3.6% in 2023
  • Strong net cash position of NOK 2.9 billion
  • Solid order backlog of NOK 60.9 billion
  • Expected OneSubsea dividend distribution exceeding USD 250 million in 2025
Negative
  • Book-to-bill ratio declined to 0.7x in Q4 2024
  • Additional losses reported in legacy renewables projects
  • Order intake decreased to NOK 40.1 billion (0.8x book-to-bill for full year)

OSLO, Norway, Feb. 11, 2025 /PRNewswire/ -- Aker Solutions delivered strong revenue growth with improved margins in 2024. The order backlog remains solid at NOK 61 billion and the tender pipeline grew to about NOK 86 billion at year end.  Revenues in 2025 are expected to be around NOK 50 to 55 billion with EBITDA margins of 7.0 to 7.5 percent, excluding net income from OneSubsea. In addition, OneSubsea, where Aker Solutions owns 20 percent, has an ambition to distribute dividends of more than USD 250 million to its shareholders in 2025. Based on its robust financial position and positive outlook, Aker Solutions intends to pay out dividends of NOK 3.30 per share for 2024.

2024 Full-Year Financial Highlights
(excluding special items)           

  • Revenue NOK 53.2 billion           
  • EBITDA NOK 4.6 billion          
  • EBITDA margin 8.7 percent           
  • Earnings per share NOK 6.62           
  • Order intake NOK 40.1 billion (0.8x book-to-bill)           
  • Board of Directors will propose dividend of NOK 3.30 per share for 2024.

4Q 2024 Financial Highlights
(excluding special items)           

  • Revenue NOK 15.7 billion           
  • EBITDA NOK 1.2 billion           
  • EBITDA margin 7.8 percent           
  • Earnings per share NOK 1.70           
  • Order intake NOK 11.6 billion (0.7x book-to-bill)           
  • Order backlog NOK 60.9 billion

"Throughout 2024, we continued to raise the bar on our financial performance, carrying a strong momentum into 2025. I am also pleased to see how well our organization is managing the dual challenge of delivering an extensive project portfolio while developing the skills and solutions for the future," said Kjetel Digre, chief executive officer of Aker Solutions.

"It is also encouraging to see the value creation enabled through our 20 percent ownership in OneSubsea. As a proud co-owner and strategic partner, we see great opportunities going forward, which is well reflected in OneSubsea's target to distribute more than USD 250 million to its shareholders in 2025," said Digre.

Key developments

In the fourth quarter, revenue increased to NOK 15.7 billion from NOK 11.0 billion in the same period last year, representing a 43 percent increase. EBITDA excl. special items grew to NOK 1.2 billion or 7.8 percent, up from NOK 0.6 billion or 5.6 percent in the previous year. This was driven by continued strong performance in our Life Cycle segment, while negatively affected by additional losses in the legacy renewables projects, which will be delivered in 2025.

For the full year, revenues increased to NOK 53.2 billion, a year-on-year growth of 47 percent. EBITDA excl. special items for the full year was NOK 4.6 billion or 8.7 percent, up from NOK 1.3 billion or 3.6 percent in 2023. The underlying EBITDA-margin for 2024 excluding net income from OneSubsea was 7.3 percent.

Aker Solutions secured new orders worth NOK 11.6 billion in the quarter, which means a book-to-bill ratio of 0.7x for the period. The total order intake for 2024 was NOK 40.1 billion. The secured backlog at the end of the year was NOK 60.9 billion, dominated by projects under the well-proven alliance model with Aker BP.

During the fourth quarter, Aker Solutions paid out an extraordinary dividend of NOK 10 billion. Net cash position at year-end was NOK 2.9 billion, positively affected by a one-off effect of about NOK 1.3 billion from cash in transit related to the joint venture in Dubai.  

Outlook

The outlook remains positive for Aker Solutions, with a solid order backlog and high activity within tenders and early-phase studies. The tender pipeline at the end of the year was about NOK 86 billion. The company is actively engaged in early-phase studies on future large-scale opportunities across the energy market, with revenues in the consultancy business growing more than 50 percent in 2024. The company remains very selective about which contracts it takes on and continues to be vigilant about capacity.

Based on the secured order backlog and ongoing projects, the company expects full-year revenue in 2025 to be between NOK 50 and 55 billion. EBITDA margins are expected to be in the range of 7.0 to 7.5 percent, excluding net income from OneSubsea. In addition, OneSubsea, where Aker Solutions owns 20 percent, is expected to pay out dividends of more than USD 250 million to its shareholders in 2025.

Capital Allocation and Dividend

Based on Aker Solutions' financial position and positive outlook, the Board of Directors will propose a dividend of NOK 3.30 per share for the fiscal year 2024, to be paid in 2025, pending approval in the Annual General Meeting on April 28, 2025. The dividend payment represents approximately 50 percent of net income excl. special items, in line with the ordinary dividend policy. 

Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611

Hallvard Norum

media contact
hallvard.norum@akersolutions.com
+47 913 80 820

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/aker-solutions-asa/r/aker-solutions-asa-fourth-quarter-and-full-year-2024-results,c4103466

The following files are available for download:

https://mb.cision.com/Public/18353/4103466/9097906e24ea815b.pdf

4Q-2024-Presentation

 

Cision View original content:https://www.prnewswire.com/news-releases/aker-solutions-asa-fourth-quarter-and-full-year-2024-results-302373144.html

SOURCE Aker Solutions ASA

FAQ

What is Aker Solutions' (AKRYY) revenue guidance for 2025?

Aker Solutions expects full-year revenue in 2025 to be between NOK 50 and 55 billion, with EBITDA margins ranging from 7.0 to 7.5% excluding OneSubsea income.

How much dividend will AKRYY pay for fiscal year 2024?

The Board of Directors has proposed a dividend of NOK 3.30 per share for fiscal year 2024, to be paid in 2025 subject to approval at the Annual General Meeting.

What was Aker Solutions' (AKRYY) order backlog at the end of 2024?

Aker Solutions' order backlog at the end of 2024 stood at NOK 60.9 billion.

What was AKRYY's EBITDA margin in Q4 2024?

Aker Solutions reported an EBITDA margin of 7.8% in Q4 2024, up from 5.6% in the same period last year.

How much is OneSubsea expected to distribute in dividends for 2025?

OneSubsea, in which Aker Solutions owns 20%, aims to distribute more than USD 250 million in dividends to its shareholders in 2025.

Aker Solutions

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