#Norway #Oslo #Aker Solutions #SLB OneSubsea #Hugin B

Aker Solutions' Strong Performance in Q2 and First Half of 2026

Aker Solutions ASA delivered impressive financial results for the second quarter and the first half of 2026, according to the latest reports. The company reached several significant project milestones during this period, indicating a robust operational capability and solid market position.

In the second quarter, Aker Solutions reported revenue of NOK 13.1 billion, with a notable EBITDA of NOK 1.2 billion. The underlying EBITDA margin stood at 9.2 percent, while the margin excluding net profits from SLB OneSubsea was approximately 7.9 percent. Additionally, earnings per share were reported at NOK 1.37, underscoring the company's strong profitability outlook.

For the first half of 2026, overall revenue reached NOK 26.5 billion with an EBITDA of NOK 2.4 billion, and a corresponding EBITDA margin of 8.9 percent. The earnings per share for this period were an impressive NOK 2.67. The order intake remained active, totaling NOK 38.7 billion, which is equivalent to a 1.5 times book-to-bill ratio.

CEO Kjetel Digre commented on the company's performance, stating, "We continue to meet milestones across a broad range of projects, and we are gearing up for major deliveries to Aker BP. This is a period our organization can be proud of." He also expressed satisfaction with the various improvement initiatives being implemented alongside customers, aimed at enhancing value and competitiveness in the market.

Key Developments in Q2 2026

During the second quarter, Aker Solutions achieved several critical project milestones. The load-out of the Hugin B topside for Aker BP was a significant highlight, along with the start of construction for the second-generation CCS projects in Norway.

The company reported an order intake of NOK 9.9 billion for the quarter. Key projects contributing to this were the award for the HVDC substructure and a long-term frame agreement with Cenovus Energy in Canada. By the close of the quarter, Aker Solutions had a staggering order backlog of NOK 77.2 billion, indicating strong future operational activity.

Aker Solutions' financial health remains robust, with a net cash position reported at NOK 4.3 billion, inclusive of liquid fund investments. This quarter, the company distributed a total of NOK 4.2 billion in ordinary and extraordinary cash dividends to its shareholders, reflecting its commitment to returning value to investors.

Future Outlook

The company projects a full-year revenue for 2026 to be between NOK 50 billion and NOK 55 billion. The underlying EBITDA margin, excluding profits from SLB OneSubsea, is anticipated to hover around 7.5 percent. Notably, SLB OneSubsea plays a crucial role in Aker Solutions' value creation, with expectations for increased distributions in the latter half of 2026.

To further delve into these results, Aker Solutions will hold a webcast presentation today at 0900 CEST to discuss the Q2 and half-year results in more detail. Stakeholders are encouraged to join the presentation and participate in the subsequent Q&A session.

Conclusion

In summary, Aker Solutions' positive financial result for the second quarter and the first half of 2026, coupled with significant project achievements, reflects the company's strong operational position and growth potential. The management's strategies and focus on key competitive elements seem to be paving the way for continued success in the energy sector, particularly in renewable energy projects. With a strong order backlog and strategic initiatives in place, Aker Solutions is well-positioned for a promising future.