Aker Solutions Targets 55 Billion NOK Revenue After Strong Second Quarter

The company’s underlying EBITDA margin reached 9.2 percent for the quarter, or 7.9 percent when excluding profit contributions from its 20 percent stake in SLB OneSubsea. CEO Kjetel Digre noted that the organization is successfully hitting key project milestones, including the Hugin B topside load-out and the commencement of second-generation carbon capture and storage projects in Norway.

New business activity remains active, with 9.9 billion NOK in order intake during the quarter. Significant additions include a frame agreement with Cenovus Energy, an HVDC substructure contract, and an equipment supply deal for the Tussa II hydropower plant. Following a 4.2 billion NOK dividend distribution to shareholders earlier this quarter, the firm maintains a strong financial footing with a net cash position of 4.3 billion NOK. Looking ahead, management anticipates that distributions from SLB OneSubsea will accelerate in the second half of the year, supporting the company's annual guidance of a 7.5 percent EBITDA margin.