Aker Solutions ASA

Latest Results (14.08.2024):

Revenue Growth

Aker Solutions ASA reported a significant increase in revenue for the first half of 2024, reaching NOK 24.3 billion, up from NOK 16.1 billion in the same period last year. This growth reflects the company's strong performance across its various segments, particularly in Renewables and Field Development.

EBITDA Improvement

The company's EBITDA for the first half of 2024 rose to NOK 2,173 million, representing an 8.9 percent margin, compared to NOK 422 million and a 2.6 percent margin in the previous year. Excluding special items, EBITDA was NOK 2,203 million, with a margin of 9.1 percent, up from NOK 466 million and a 2.9 percent margin last year.

Net Income Surge

Aker Solutions ASA's net income for continuing and total operations in the first half of 2024 was NOK 1,426 million, a substantial increase from NOK 49 million for continuing operations and NOK 880 million for total operations in the previous year. This improvement was driven by higher revenues and better operational efficiencies.

Order Intake and Backlog

The order intake for Aker Solutions ASA in the first half of 2024 was NOK 35.3 billion, compared to NOK 22.5 billion in the same period last year. The order backlog at the end of the period stood at NOK 72.7 billion, slightly up from NOK 71.4 billion a year earlier, indicating a strong pipeline of future projects.

Segment Performance

The Renewables and Field Development segment saw its revenue increase to NOK 17.4 billion in the first half of 2024, up from NOK 9.5 billion the previous year. The Life Cycle segment reported a revenue of NOK 6.0 billion, slightly down from NOK 6.3 billion in the same period last year. Both segments showed improved EBITDA margins, reflecting better project execution and cost management.