Øyvind Paaske has been appointed as Chief Financial Officer in Akastor ASA effective from 1 March 2020. He replaces Leif H. Borge who will remain in the position up to this date, after which he will assume a new position in a company outside the Aker group. Øyvind Paaske joined the investment team in Akastor in 2014. Prior to this, he held the position as Investment Manager in Aker ASA. He holds an MSc in [...]
Aker Solutions and a group of the world's leading oil and gas operators have come together in a joint industry project with the aim of making subsea gas separation a reality. Using CO2 injection to increase recovery rates in offshore oil and gas fields can improve the economics of a field significantly, but so far, the separation of `back-produced' CO2 from the well-stream has been considered carried out on an existing [...]
Aker Solutions has been chosen by Equinor as the main supplier for inspection services for more than 15 operating facilities in Norway. A frame agreement is expected to be signed shortly, covering an initial period of six years with options for two additional four-year extensions. The estimated value of the agreement is NOK 1.2 billion for the six-year period. The agreement covers a wide range of inspection services [...]
Highlights Revenue NOK 1 430 million EBITDA NOK 133 million EBITDA margin 9.3 percent Order intake NOK 1 149 million Order backlog NOK 3.3 billion Net interest-bearing debt NOK 1.1 billion Akastor CEO Karl Erik Kjelstad comments: "In an offshore rig market that is still struggling with overcapacity, MHWirth delivered strong revenue growth of 50 percent in [...]
Aker Solutions aims to generate about half of its revenue from renewable or distinct low carbon solutions by 2030, according to the company's 20/25/30 strategy. The oil and gas industry will remain Aker Solutions' biggest market, but over the next decade the company will have a more balanced portfolio of products and technologies that either generate renewable energy or removes or substantially reduces CO2 emissions. "The [...]
Aker Solutions' revenue increased in the third quarter of 2019 compared to the same period a year earlier, as the company experienced higher activity levels across segments with several key deliveries globally. 3Q 2019 Financial Highlights Revenue NOK 7.1 billion EBITDA NOK 553 million EBITDA margin 7.8% EBITDA ex. special items NOK 570 million EBITDA margin ex. special items 8.0% Earnings per share ex. special items NOK [...]
WindPower Korea, EDP Renewables and Aker Solutions have formed a consortium with the ambition to develop an initial 500 megawatt floating wind farm off the coast of Ulsan Metropolitan City in South Korea. The consortium was formed as EDP Renewables, one of the top wind energy producers globally, and Aker Solutions, an engineering and technology company with a 40-year track record of realizing offshore projects, have [...]
Akastor ASA will publish its third quarter 2019 results on Tuesday October 29, 2019 at 7:00 a.m. CET. The presentation will be available through a conference call and audiocast only, at 8:00 a.m. CET. The presentation will be audiocasted live, and available through a dial-in conference call. There will be a Q&A session following the presentation. The replay will be made available on the company website. Please join the [...]
Aker Solutions today launches its Intelligent Subsea offering designed to accelerate field development and maximize performance. The industry has standardized, simplified and reduced the size of equipment in recent years, but a further step-change is needed to drive a sustainable future for the subsea industry and the world it serves. With Aker Solutions' intelligent subsea approach, the time it takes to generate optimal [...]
Aker Solutions has won an order from ADNOC to deliver subsea umbilicals for the Dalma gas development project located offshore UAE in the shallow waters of the Persian Gulf. "This is the first subsea umbilical award by ADNOC in the UAE and the first subsea award for Aker Solutions in the Persian Gulf," said Luis Araujo, chief executive officer of Aker Solutions. "We are very pleased with the opportunity to further develop [...]
Aker Solutions' revenues strengthened in the second quarter of 2019 as the company won new contracts and made good progress executing projects globally. 2Q 2019 Financial Highlights Revenue NOK 7.5 billion EBITDA NOK 623 million EBITDA margin 8.3% EBITDA ex. special items NOK 629 million EBITDA margin ex. special items 8.4% Earnings per share ex. special items NOK 0.56 Order intake NOK 3.8 billion Order backlog NOK [...]
Second Quarter Highlights Revenue of NOK 1 304 million in the quarter with growth of 49 percent from previous year EBITDA of NOK 114 million in the quarter First Geo and AGR merger completed, presented as a new segment AGR MHWirth completed acquisition of Bronco Manufacturing in June Order intake of NOK 1.8 billion in the quarter, resulting in order backlog of NOK 3.5 billion Media Contact Leif Borge Chief Financial [...]
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