Aker Solutions ASA: Second-quarter and half-year results 2024 - Solid performance and upgraded guiding
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
"A solid order intake and high tendering activity point to a positive outlook for
Key Developments
Revenue in the second quarter increased to NOK 12.8 billion from
Order intake for the quarter was
Solid operational performance and the settlement of proceeds related to the subsea transaction resulted in strong cash generation. At the end of the quarter, the net cash position was NOK 11.0 billion, including investments in liquid funds not treated as cash and cash equivalents under IFRS. During the first half of 2024,
During the first half of 2024,
Outlook
The outlook remains positive for Aker Solutions. The high order backlog, mainly made up of projects to be executed in the well-proven alliance model with Aker BP with balanced risk-reward profile and upside potential through shared incentives, offers good visibility on activity levels going forward. Tender activity is high at about
Based on the secured backlog and market activity, full year revenue in 2024 is now expected to increase by around 40 percent compared to 2023. The underlying EBITDA margin, excluding net income from OneSubsea, is expected to be around 7.5 percent for the full year of 2024.
Audiocast presentation
The second-quarter and half-year results will be presented by audiocast today,
A Q&A session will follow the presentation. Written questions can be submitted through the audiocast solution or sent in advance to preben.orbeck@akersolutions.com, Head of Investor Relations.
An opportunity for individual press interviews will follow the audiocast. Please direct your interest to hallvard.norum@akersolutions.com
The reports published today, and previous reports, are also available on https://www.akersolutions.com/investors/quarterly-results/
Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611
media contact
hallvard.norum@akersolutions.com
+47 913 80 820
Visit akersolutions.com and connect with us on Facebook, Instagram, LinkedIn and YouTube.
This press release may include forward-looking information or statements and is subject to our disclaimer, see https://akersolutions.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This
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