#Norway #Oslo #Aker Solutions #OneSubsea #Kjetel Digre

Aker Solutions Delivers Strong Financial Performance for 2024

Aker Solutions ASA has announced impressive financial results for the fourth quarter and the full year of 2024, showcasing significant revenue growth and improved margins. With an eye on future opportunities, the company has maintained a robust order backlog and enhanced its dividend outlook, signaling a positive trajectory for stakeholders.

Financial Overview

In 2024, Aker Solutions reported a revenue of NOK 53.2 billion, reflecting a staggering year-on-year growth of 47%. The company achieved an EBITDA of NOK 4.6 billion, resulting in an EBITDA margin of 8.7%. Notably, the earnings per share also rose to NOK 6.62, underlining the effective management and growth strategies employed throughout the year.

In the fourth quarter alone, the revenue surged to NOK 15.7 billion, demonstrating a remarkable 43% increase from NOK 11.0 billion in the same period the previous year. The EBITDA for this quarter rose to NOK 1.2 billion, yielding a margin of 7.8%. Although the recent figures included additional losses tied to legacy projects in renewables, which are set to complete in 2025, the overall performance remained robust.

Strategic Developments

Kjetel Digre, the CEO of Aker Solutions, expressed his satisfaction with the company's performance, highlighting the team’s capability to juggle an extensive project portfolio while innovating solutions for the future. The company secured new orders worth NOK 11.6 billion during the fourth quarter, leading to a total order intake of NOK 40.1 billion in 2024, establishing a solid order backlog of NOK 60.9 billion.

Digre also pointed out the positive contributions from OneSubsea, where Aker Solutions holds a 20% stake. OneSubsea is projected to distribute over USD 250 million to its shareholders in 2025, further strengthening Aker's financial positioning.

Outlook for 2025

Looking ahead, Aker Solutions anticipates revenue between NOK 50 billion and NOK 55 billion for 2025. The EBITDA margin is expected to range from 7.0% to 7.5%. The company is currently focused on several preliminary studies, particularly in the energy market, which saw consultancy revenues exceed 50% growth in 2024. The tender pipeline has also grown impressively, reaching approximately NOK 86 billion, indicating a proactive approach to future contracts.

Dividends and Shareholder Returns

In light of its financial strength and optimistic outlook, Aker Solutions plans to propose a dividend of NOK 3.30 per share for 2024, pending shareholder approval in the upcoming Annual General Meeting on April 28, 2025. This dividend represents about 50% of the net income, excluding special items and aligns with the company's commitment to return value to its shareholders.

With a net cash position of NOK 2.9 billion at year-end, positively influenced by a one-off cash flow from its joint venture in Dubai, Aker Solutions stands poised for sustainable growth amidst a favorable energy market landscape.

Aker Solutions' management remains committed to maintaining a balance between growth and prudent financial management, ensuring continuous value creation for all stakeholders involved.

More information regarding Aker Solutions’ financial performance can be accessed through their investor relations contact, Preben Ørbeck, or through public releases on their corporate website.