Aker Solutions has reported a significant increase in its third-quarter earnings, outperforming analysts' forecasts with a net profit of NOK853 million ($76.4 million). This figure represents a substantial rise from last year's NOK305 million. The firm also experienced a 42% revenue spike to NOK14.26 billion, surpassing analysts' predictions of NOK550 million net profit and NOK14.19 billion revenue.
The company recently concluded the OneSubsea joint venture, securing $700 million and retaining a 20% stake in a larger subsea entity. This move forms part of Aker Solutions' strategic growth plan and diversification into new areas of the energy sector.
Looking ahead, Aker Solutions projects its 2023 revenues (excluding subsea) to be around NOK34 billion, maintaining steady Ebitda margins excluding subsea operations. The firm anticipates about a 10% revenue growth in 2024 with an Ebitda margin of 6%-7%.
Despite this positive financial performance, the company's order intake for the third quarter was NOK6.8 billion, a decrease from last year's NOK8.2 billion. However, the company's backlog dramatically rose to NOK90 billion, indicating a strong pipeline of future business.
Currently, Aker Solutions is tendering for contracts valued at approximately NOK103 billion, demonstrating its commitment to growth and expansion in both existing and new markets.
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