Aker Solutions ASA: Third-Quarter Results 2024
3Q 2024 Financial Highlights
(excluding special items)
- Revenue
NOK 13.2 billion - EBITDA NOK 1.2 billion
- EBITDA margin 9.2 percent
- Earnings per share NOK 1.70
- Net cash position NOK 11.7 billion, including investments in liquid funds
- Order intake NOK 6.0 billion (0.5x book-to-bill)
- Order backlog NOK 64.7 billion
"The solid financial results reflect that we are successfully delivering on our extensive project portfolio, meeting key milestones and fulfilling commitments to our clients. At the same time, we are investing in digital solutions and robotization to both safeguard the delivery of our backlog and improve our competitiveness for future opportunities," said Kjetel Digre, Chief Executive Officer at
Key Developments
Third-quarter revenue increased to NOK 13.2 billion from
Activity levels continue to be high across business segments and locations. During the quarter, Aker Solutions met several important milestones in its project portfolio, including the anchoring of the Johan Castberg FPSO in the
Order intake for the quarter was
Net cash position, including investments in liquid funds not treated as cash under IFRS16, increased to
During the quarter,
Outlook
Despite geopolitical uncertainty and volatile energy prices, the outlook remains positive for Aker Solutions. Tender activity is high at about
Based on secured revenues and backlog, the company expects full-year 2024 revenues to grow by more than 40 percent compared to 2023. EBITDA margins, excluding net income from OneSubsea, are expected to be around 7.5 percent for the full year of 2024.
Capital Allocation
Based on the company's solid financial position and positive market outlook, the Board of Directors has decided to propose an extraordinary dividend of NOK 21 per share to an Extraordinary General Meeting to be held on
"The proposal for an extraordinary dividend is a testament to the achievements of the entire Aker Solutions organization. After the dividend,
Webcast presentation
The third-quarter results will be presented by webcast today,
A Q&A session will follow the presentation. Written questions can be submitted through the webcast solution or sent in advance to preben.orbeck@akersolutions.com, Head of Investor Relations.
An opportunity for individual press interviews will follow the audiocast. Please direct your interest to hallvard.norum@akersolutions.com, Head of Media & Channels.
The reports published today, and previous reports, are also available on https://www.akersolutions.com/investors/quarterly-results/.
For more information, please contact:
Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611
media contact
hallvard.norum@akersolutions.com
+47 913 80 820
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https://mb.cision.com/Public/18353/4059299/96399a813d84d3b9.pdf |
3Q-2024-Presentation |
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