Aker Solutions ASA: First-Quarter Results
Aker Solutions ASA: First-Quarter Results |
| [30-April-2025] |
OSLO, Norway, April 30, 2025 /PRNewswire/ -- Aker Solutions has delivered high revenue growth and a strong order intake in the first quarter of 2025. The company continues to have a solid order backlog and high tender activity. Earlier this week, the Annual General Meeting approved the cash dividend of NOK 3.30 per share for the fiscal year of 2024. 1Q 2025 Financial Highlights (all figures excluding special items) "We are keeping up momentum in yet another high-activity quarter, resulting in good progress on our project portfolio and solid financials. This speaks volumes about the strength and resilience of our organization," said Kjetel Digre, Chief Executive Officer of Aker Solutions. "Our recent contract wins show that we remain a competitive and trusted partner in the broader energy market. At the same time, we continue our efforts together with our clients and strategic partners to improve productivity and drive down costs," said Digre. Key developments Revenue in the first quarter increased to NOK 14.4 billion compared to NOK 11.5 billion in the first quarter of 2024, representing a growth of 25 percent. EBITDA increased to NOK 1,213 million, compared to NOK 987 million in the same quarter last year. The underlying EBITDA margin for the quarter was 8.4 percent, or 7.2 percent if excluding the net income from OneSubsea. As previously disclosed, the legacy renewables projects have been both operationally and commercially challenging. The projects are progressing for delivery in 2025. Discussions are ongoing with both clients and subcontractors to solve these commercial challenges. Order intake for the quarter ended at NOK 25.6 billion, or 1.8-times book-to-bill. Most of the new orders relate to the 'second generation' of renewables and transitional energy projects in Aker Solutions, with balanced risk-reward profiles and focus on standardization to reduce costs. The secured order backlog at the end of the quarter stood at NOK 72.1 billion. OneSubsea, owned 20 percent by Aker Solutions, also delivered strong financial results in the period, with an EBITDA margin of 20.4 percent. OneSubsea has an attractive dividend policy with ambitions to distribute more than USD 250 million during the year. During the first quarter, Aker Solutions received NOK 152 million in quarterly dividends from OneSubsea. Aker Solutions' financial position remains solid with a net cash position of NOK 3.4 billion at the end of the first quarter. Outlook and financial guiding The company continues to have a solid order backlog and a large tender pipeline of about NOK 85 billion, dominated by oil and gas opportunities in Europe. Based on the secured backlog and market activity, full year revenue in 2025 is now expected to exceed NOK 55 billion. At this early stage, the underlying EBITDA margin, excluding net income from OneSubsea, is expected to be in the 7.0-7.5 percent range for the full year of 2025. Earlier this week, the Annual General Meeting approved the cash dividend of NOK 3.30 per share which will be paid on May 8, 2025. CONTACT: Preben Ørbeck Hallvard Norum This information was brought to you by Cision http://news.cision.com https://news.cision.com/aker-solutions-asa/r/aker-solutions-asa--first-quarter-results,c4143132 The following files are available for download:
SOURCE Aker Solutions ASA | ||||
Company Codes: Bloomberg:AKSO@NO, ISIN:NO0010716582, Oslo:AKSO, OTC-PINK:AKRYY, RICS:AKSO.OL |
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