Q3 HIGHLIGHTS Completed the transaction to sell KOP Surface Products to the Weir Group PLC, releasing approximately NOK 1 billion in cash EBITDA of NOK 54 million, including several special items with a total negative value of NOK 79 million Net debt reduced by NOK 0.9 billion to NOK 2.4 billion, including financial leases of NOK 1.4 billion MHWirth awarded contract for drilling equipment package to the West [...]
Akastor ASA (OSE: AKA), an oil service investment company, announced today that it is in advanced discussions with MITSUI & CO., LTD. ("Mitsui"), a leading Japanese trading and investment company, to further expand their current partnership to include AKOFS Offshore ("AKOFS"). The parties have entered into a Memorandum of Understanding which includes the following main terms (the "Transaction"): Mitsui, together with [...]
MHWirth AS, a company owned by Akastor ASA, has today received a contract from Wood Group Canada Inc for delivery of a drilling package, including equipment, engineering and services for the West White Rose Project offshore Canada. Husky Energy is developing the West White Rose Project, together with its co-venture partners. This will be a fixed facility with a platform supported by a concrete gravity structure. The [...]
October 20, 2017 3Q 2017 Financial Highlights Sales NOK 5.4 billion EBITDA NOK 401 million EBITDA margin 7.4% EBITDA ex. special items NOK 421 million EBITDA margin ex. special items 7.8% Earnings per share ex. special items NOK 0.41 Order intake NOK 2.6 billion Order backlog NOK 27.2 billion Aker Solutions delivered strong execution on major projects globally in the third quarter of 2017 and made good progress on [...]
October 20, 2017 - Aker Solutions won an order valued at more than NOK 1.6 billion to deliver the largest umbilicals system ever. The contract entails delivery of 250 kilometers of steel-tube umbilicals linking a subsea development to an existing offshore platform. "We are honored to have been selected to work on this project, which is groundbreaking in terms of the size and technology of the umbilicals system," said [...]
October 10, 2017 - Aker Solutions will publish its third-quarter results for 2017 on Friday, October 20, at 07:00 CEST. We invite investors, analysts and media to a presentation of the results at Aker Solutions' headquarters, Oksenøyveien 8, Fornebu. Date: October 20, 2017 Time: 09:00 CEST Location: Oksenøyveien 8, Fornebu, Norway Language: English To attend the presentation, please pre-register using this link: http://akersolutions.com/registration We kindly ask that you pre-register even if you are not yet certain whether you will attend the presentation in person. The presentation will be broadcast live on http://akersolutions.com/webcast at 09:00 CEST. Dial-in details are available here: http://akersolutions.com/dial-in The third-quarter 2017 presentation will be available ... [...]
MHWirth becomes an owner and establishes a market and technology partnership with the Norwegian technology company Electrical Subsea & Drilling Electrical Subsea & Drilling (ESD) is working on the development and qualification of two drilling technologies; all electric control of Blow Out Preventers (BOP) and a durable Rotating Control Device (RCD) for Managed Pressure Drilling (MPD). MHWirth has over the last years [...]
September 21, 2017 - Aker Solutions won a contract from Statoil for front end engineering and design of a module that will increase output at Troll, one of Norway's largest natural gas fields. The order includes an option for engineering, procurement, construction and installation of the module, which will receive and process gas from the Troll West field before it is exported to the onshore Kollsnes facility near Bergen [...]
August 31, 2017 - Aker Solutions secured a framework agreement from Shell to provide brownfield modifications services and maintenance support for the Nyhamna and Draugen facilities in Norway. The agreement has a fixed period of four years and may be extended by up to seven years. It covers the offshore Draugen oil platform and the onshore Nyhamna natural gas processing plant in Aukra that is connected to the Ormen Lange [...]
Fornebu, July 27, 2017: Reference is made to the stock exchange release dated June 12, 2017 regarding Akastor's agreement to sell KOP Surface Products to The Weir Group PLC. All closing conditions have been fulfilled. The closing of the transaction took place on July 27, 2017 according to the terms and conditions described in the release. The transaction will generate an estimated accounting gain of approximately NOK [...]
Q2 HIGHLIGHTS · Entered agreement to sell KOP Surface Products to the Weir Group PLC for USD 114 million · EBITDA of NOK 18 million (including restructuring costs of NOK 52 million) · Net debt at NOK 3.3 billion, including financial leases of NOK 1.6 billion · Working capital at NOK 1.2 billion ___________________________________________________________________________ Media Contact: Akastor ASA Tore Langballe [...]
July 12, 2017 2Q 2017 Financial Highlights Sales NOK 5.4 billion EBITDA NOK 305 million EBITDA margin 5.6% EBITDA margin ex. special items 7.4% Earnings per share ex. special items NOK 0.35 Order intake NOK 3 billion Order backlog NOK 30.7 billion Aker Solutions delivered another period of strong execution on major projects globally in the second quarter of 2017 and made good progress on improvement efforts that [...]
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