Aker Solutions ASA: First-Quarter Results

Rhea-AI Summary

Aker Solutions reported strong Q1 2025 financial results with revenue reaching NOK 14.4 billion, marking a 25% growth from Q1 2024. The company achieved an EBITDA of NOK 1.2 billion with an 8.4% margin.

Key highlights include:

• Order intake of NOK 25.6 billion with a 1.8x book-to-bill ratio
• Secured order backlog of NOK 72.1 billion
• Earnings per share of NOK 1.35
• Net cash position of NOK 3.4 billion

The company expects 2025 revenue to exceed NOK 55 billion, with an EBITDA margin between 7.0-7.5%. Shareholders will receive a cash dividend of NOK 3.30 per share on May 8, 2025. While facing challenges in legacy renewables projects, Aker Solutions maintains a strong tender pipeline of NOK 85 billion, primarily in European oil and gas opportunities.

Positive

• Revenue grew 25% YoY to NOK 14.4B in Q1 2025
• Strong order intake of NOK 25.6B with 1.8x book-to-bill ratio
• Solid order backlog of NOK 72.1B
• Net cash position of NOK 3.4B
• OneSubsea subsidiary delivered 20.4% EBITDA margin
• Received NOK 152M in quarterly dividends from OneSubsea
• Approved cash dividend of NOK 3.30 per share
• Full year 2025 revenue expected to exceed NOK 55B

Negative

• Legacy renewables projects facing operational and commercial challenges
• EBITDA margin excluding OneSubsea income declined to 7.2%
• Full year 2025 EBITDA margin guidance of 7.0-7.5% shows potential margin pressure

OSLO, Norway, April 30, 2025 /PRNewswire/ -- Aker Solutions has delivered high revenue growth and a strong order intake in the first quarter of 2025. The company continues to have a solid order backlog and high tender activity. Earlier this week, the Annual General Meeting approved the cash dividend of NOK 3.30 per share for the fiscal year of 2024.

1Q 2025 Financial Highlights

(all figures excluding special items)        
Revenue NOK 14.4 billion 
EBITDA NOK 1.2 billion    
EBITDA margin 8.4 percent    
Earnings per share NOK 1.35 
Order intake NOK 25.6 billion (1.8 times book-to-bill) 
Order backlog NOK 72.1 billion 

"We are keeping up momentum in yet another high-activity quarter, resulting in good progress on our project portfolio and solid financials. This speaks volumes about the strength and resilience of our organization," said Kjetel Digre, Chief Executive Officer of Aker Solutions. 

"Our recent contract wins show that we remain a competitive and trusted partner in the broader energy market. At the same time, we continue our efforts together with our clients and strategic partners to improve productivity and drive down costs," said Digre. 

Key developments

Revenue in the first quarter increased to NOK 14.4 billion compared to NOK 11.5 billion in the first quarter of 2024, representing a growth of 25 percent. EBITDA increased to NOK 1,213 million, compared to NOK 987 million in the same quarter last year. The underlying EBITDA margin for the quarter was 8.4 percent, or 7.2 percent if excluding the net income from OneSubsea.

As previously disclosed, the legacy renewables projects have been both operationally and commercially challenging. The projects are progressing for delivery in 2025. Discussions are ongoing with both clients and subcontractors to solve these commercial challenges.

Order intake for the quarter ended at NOK 25.6 billion, or 1.8-times book-to-bill. Most of the new orders relate to the 'second generation' of renewables and transitional energy projects in Aker Solutions, with balanced risk-reward profiles and focus on standardization to reduce costs. The secured order backlog at the end of the quarter stood at NOK 72.1 billion.

OneSubsea, owned 20 percent by Aker Solutions, also delivered strong financial results in the period, with an EBITDA margin of 20.4 percent. OneSubsea has an attractive dividend policy with ambitions to distribute more than USD 250 million during the year. During the first quarter, Aker Solutions received NOK 152 million in quarterly dividends from OneSubsea.   

Aker Solutions' financial position remains solid with a net cash position of NOK 3.4 billion at the end of the first quarter.  

Outlook and financial guiding 

The company continues to have a solid order backlog and a large tender pipeline of about NOK 85 billion, dominated by oil and gas opportunities in Europe.

Based on the secured backlog and market activity, full year revenue in 2025 is now expected to exceed NOK 55 billion. At this early stage, the underlying EBITDA margin, excluding net income from OneSubsea, is expected to be in the 7.0-7.5 percent range for the full year of 2025.

Earlier this week, the Annual General Meeting approved the cash dividend of NOK 3.30 per share which will be paid on May 8, 2025.    

CONTACT:

Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com 
+47 470 10 611

Hallvard Norum
media contact
hallvard.norum@akersolutions.com 
+47 913 80 820

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https://news.cision.com/aker-solutions-asa/r/aker-solutions-asa--first-quarter-results,c4143132

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1Q-2025-Presentation

 

View original content:https://www.prnewswire.com/news-releases/aker-solutions-asa-first-quarter-results-302442243.html

SOURCE Aker Solutions ASA

FAQ

What is AKRYY's revenue and EBITDA for Q1 2025?

Aker Solutions (AKRYY) reported revenue of NOK 14.4 billion and EBITDA of NOK 1.2 billion in Q1 2025, with an EBITDA margin of 8.4%. This represents a 25% revenue growth compared to Q1 2024.

How much dividend will AKRYY pay shareholders in May 2025?

AKRYY shareholders will receive a cash dividend of NOK 3.30 per share, which was approved by the Annual General Meeting and will be paid on May 8, 2025.

What is AKRYY's order backlog and intake for Q1 2025?

Aker Solutions secured an order intake of NOK 25.6 billion (1.8 times book-to-bill) and maintains an order backlog of NOK 72.1 billion as of Q1 2025.

What is AKRYY's revenue forecast for full-year 2025?

Aker Solutions expects full-year 2025 revenue to exceed NOK 55 billion, with an underlying EBITDA margin between 7.0-7.5% (excluding OneSubsea income).

How much did AKRYY receive in dividends from OneSubsea in Q1 2025?

Aker Solutions received NOK 152 million in quarterly dividends from OneSubsea, which achieved an EBITDA margin of 20.4% in Q1 2025.

What is AKRYY's current tender pipeline value?

Aker Solutions has a tender pipeline of approximately NOK 85 billion, primarily consisting of oil and gas opportunities in Europe.