#financial results #Norway #Oslo #Aker Solutions #OneSubsea

Aker Solutions Financial Highlights for 2024

Aker Solutions has recently announced its impressive financial results for the fourth quarter and the full year of 2024. The company has exhibited notable revenue growth and improved margins, signaling a strong performance in a competitive landscape. The order backlog remains robust at NOK 61 billion, with the tender pipeline also experiencing a rise to approximately NOK 86 billion by year-end.

Key Financial Metrics

In 2024, Aker Solutions has reported a revenue of NOK 53.2 billion, translating to a significant year-on-year growth of 47%. The EBITDA for the same period was NOK 4.6 billion, reflecting an EBITDA margin of 8.7%. The earnings per share stood at NOK 6.62, showing the company's strong financial health. The order intake for the year reached NOK 40.1 billion, resulting in a book-to-bill ratio of 0.8, demonstrating effective management of both incoming orders and revenue realization.

For the fourth quarter alone, Aker Solutions' revenue rose to NOK 15.7 billion, highlighting a 43% increase compared to NOK 11.0 billion in the same quarter of the previous year. The EBITDA for Q4 was reported at NOK 1.2 billion, with an EBITDA margin of 7.8%. Earnings per share for Q4 reached NOK 1.70, underlining the company's profitability during this key period.

CEO Remarks

Kjetel Digre, the Chief Executive Officer of Aker Solutions, expressed his satisfaction with the company's financial performance. He stated, “Throughout 2024, we continued to raise the bar on our financial performance, carrying a strong momentum into 2025.” He further emphasized that the firm is strategically managing a dual challenge: executing extensive project portfolios while also developing future-ready skills and solutions.

The partnership with OneSubsea is central to Aker Solutions' future strategies, as the company aims to leverage its 20% ownership stake to enhance shareholder value. OneSubsea targets a dividend distribution exceeding USD 250 million for its shareholders in 2025, which reflects the collaborative success of both entities.

Performance Drivers

Aker Solutions attributes its favorable results to robust performance in various segments, especially its life cycle segment. However, it also noted that some challenges arose due to ongoing losses in legacy renewable projects, which they expect to deliver by 2025. Despite these challenges, the overall outlook remains optimistic.

The secured order backlog increased to NOK 60.9 billion, primarily driven by projects in collaboration with Aker BP, showcasing the effectiveness of their operational model. The company’s strategic approach to contract selection and diligence regarding capacity continues to be a cornerstone of its operations.

Outlook for 2025

Looking ahead, Aker Solutions anticipates continued growth, expecting full-year revenues in 2025 to range between NOK 50 billion and NOK 55 billion. The EBITDA margins are projected to be between 7.0% and 7.5%, excluding net income from OneSubsea. The company is focused on selective contract engagements while actively pursuing potential large-scale opportunities across the energy market. The consultancy business has shown considerable growth, with revenues rising over 50% in 2024, signaling a healthy expansion trajectory.

Dividend Distribution

In light of its solid financial standing and positive outlook, Aker Solutions' Board of Directors has proposed a dividend payout of NOK 3.30 per share for the fiscal year 2024, pending the approval of shareholders during the Annual General Meeting on April 28, 2025. This payout aligns with their commitment to returning value to shareholders while supporting future growth.

As Aker Solutions moves forward into 2025, its strategic focus, strong financial health, and collaboration with OneSubsea are likely to position it strongly in the evolving energy landscape

For more information, please contact investor relations at Aker Solutions.