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Aker Solutions ASA: Second-quarter and half-year results 2024 - Solid performance and upgraded guiding
OSLO, Norway, July 12, 2024 /PRNewswire/ -- Aker Solutions has delivered another strong quarter with growth in revenues, margins and cash generation compared to the same period last year. Several key milestones have been met on the project portfolio in the period. Aker Solutions now expects revenues in 2024 to grow to a level of around NOK 50 billion, representing a year-on-year growth of around 40 percent, with EBITDA margins around 7.5 percent excluding net income from OneSubsea.
2Q 2024 Financial Highlights(excluding special items)
Revenue NOK 12.8 billion
EBITDA NOK 1.2 billion
EBITDA margin 9.5 percent
Earnings per share NOK 1.78
Net cash position NOK 11.0 billion (including investments in liquid funds)
Order intake NOK 15.5 billion (1.2x book-to-bill)
Order backlog NOK 71.4 billion
1H 2024 Financial Highlights(excluding special items)
Revenue NOK 24.3 billion
EBITDA NOK 2.2 billion
EBITDA margin 9.1 percent
Earnings per share NOK 3.19
Order intake NOK 22.5 billion (0.9x book-to-bill)
"This high-activity quarter really highlights the strength of our organization as we keep surpassing our financial targets while meeting important project milestones and positioning Aker Solutions for the future," said Kjetel Digre, chief executive officer at Aker Solutions.
"A solid order intake and high tendering activity point to a positive outlook for Aker Solutions. I am also pleased to see the successful launch of the ENTR brand for our energy consultancy business, which is a key part of our strategy to uncover new opportunities in shifting energy markets," said Digre.
Key Developments
Revenue in the second quarter increased to NOK ...