Aker Solutions ASA

Third Quarter Highlights Revenue of NOK 926 million, down 35 percent compared with the same quarter previous year Total EBITDA of NOK 66 million Net interest-bearing debt was NOK 1.5 billion Order backlog was NOK 2.5 billion NES Global Talent combined with Fircroft Group to create leading technical workforce provider Subsequent event: Restructuring of DDW Offshore completed in October, with Akastor assuming 100% ownership [...]

Aker Solutions' revenues, excluding special items, were NOK 4.7 billion and the order intake was NOK 7.1 billion in the third quarter of 2020. 3Q 2020 Financial Highlights Revenue NOK 5.5 billion Revenue ex. special items NOK 4.7 billion EBITDA NOK 938 million EBITDA ex. special items NOK 243 million EBITDA margin ex. special items 5.2% Order intake NOK 7.1 billion Order backlog NOK 29.2 billion "This was a [...]

Reference is made to the stock exchange release dated 27 August 2020 regarding the restructuring of DDW Offshore AS . Final agreements consistent with the key principles set out in the release have been entered into by all parties. Effective from 9 October 2020, Akastor AS owns all shares in DDW Offshore AS. DDW Offshore AS will be consolidated into Akastor Group as a subsidiary as from Q4 2020. For further information [...]

Aker Solutions was awarded a front-end engineering and design contract from ConocoPhillips for modifications on the Ekofisk installations to integrate the Tommeliten Alpha discovery, offshore Norway. The FEED starts immediately and is expected to be completed in the second quarter of 2021 with an estimated value of about NOK 130 million. The contract includes an option for the engineering, procurement, construction, and [...]

October 1, 2020 - Aker Solutions won an order from ConocoPhillips to deliver the subsea production system for the Tommeliten Alpha development offshore Norway. The estimated contract value is about NOK 1.2 billion. The scope of work covers a complete subsea production system including 10 vertical subsea trees, two manifolds, wellheads, satellite structures, control systems and tie-in equipment. "We look forward to working [...]

Aker Solutions has been awarded a contract from Equinor for the delivery of a subsea production system for the Breidablikk development in the North Sea. The contract value is estimated at about NOK 2.5 billion, including options. The contract covers the delivery of four subsea templates and up to 23 subsea trees and associated components. The deliveries include Aker Solutions' standard, lightweight vertical subsea trees [...]

NES Global Talent , in which Akastor holds an economic interest of around 17%, has today announced that it has entered into an agreement to combine its business with the Fircroft Group . The transaction represents a strategic alignment to create one of the leading human capital solutions business for engineering and technical talent globally. The combined entity will be known as NES Fircroft. Akastor CEO, Karl Erik [...]

Aker Solutions has secured a three-year contract extension to an existing framework agreement for work at North Sea fields operated by ConocoPhillips. The company will continue as ConocoPhillips' main supplier of maintenance and modifications work offshore Norway. The agreement runs from January 2021 until the end of 2023. The contract value will be determined by future call-offs for maintenance and modifications work and [...]

Aker Solutions has secured a five-year contract extension from ExxonMobil Canada Properties for the provision of engineering, procurement and construction services for the Hebron platform, offshore Newfoundland. The contract is an extension for a 5-year period, starting in the summer of 2020. Aker Solutions has provided EPC services to Hebron since 2015. The work will be led from Aker Solutions' premises in St. John's [...]

Second Quarter Highlights Revenue of NOK 1 254 million in the quarter, down 4 percent compared with the same quarter previous year Total EBITDA of NOK 70 million in quarter, negatively impacted by specific M&A cost of NOK 43 million MHWirth EBITDA of NOK 110 million in quarter, driven by continued good activity within services and demonstrating robustness of business model Net bank debt was NOK 1 595 million per end of [...]