Welcome to our dedicated page for Aker Solutions news (Ticker: AKRYY), a resource for investors and traders seeking the latest updates and insights on Aker Solutions stock.
Aker Solutions ASA (AKRYY) operates in the oilfield services sector, where news developments typically center on contract awards, project completions, and strategic positioning within the global energy infrastructure market. As a Norwegian engineering company serving the offshore oil and gas industry, the company's newsflow reflects broader industry dynamics including upstream capital expenditure trends, commodity price impacts on project sanctioning, and the evolving balance between traditional hydrocarbon development and renewable energy opportunities.
Key news categories for oilfield services companies include major contract announcements that add to project backlogs, quarterly earnings reports revealing margin trends and order intake patterns, and strategic developments such as technology partnerships or business segment realignments. Engineering and construction firms in this sector generate material news around project milestones, as successful delivery or delays on large-scale offshore installations can significantly impact financial performance and industry reputation. Additionally, developments in offshore wind projects and carbon capture initiatives represent emerging news themes as the energy services industry adapts to decarbonization trends.
For investors tracking AKRYY, news coverage provides insight into the company's competitive position in securing offshore projects, execution capabilities on complex engineering contracts, and strategic direction in navigating energy sector transitions. As an ADR representing a foreign-listed company, material announcements may originate from Oslo Stock Exchange disclosures and Norwegian regulatory filings before appearing in U.S. financial media. Regular monitoring of company-specific developments helps investors understand how Aker Solutions is positioned within the cyclical oilfield services industry and responding to both short-term project opportunities and long-term structural changes in global energy markets.
Aker Solutions reported significant financial growth in Q2 2022, with revenue rising to NOK 10.6 billion, up from NOK 7.0 billion a year prior. The company’s EBITDA reached NOK 691 million and it maintained a strong cash position of NOK 3.1 billion. The order intake was NOK 13.6 billion, suggesting a 1.3x book-to-bill ratio. Aker Solutions raised its revenue guidance, now projecting a 30% increase for the full year compared to 2021. Despite market challenges, the outlook remains positive, driven by high tender activity and a favorable oil and gas pricing backdrop.
Aker Solutions reported a solid performance in Q1 2022, with revenues increasing to NOK 8.3 billion and EBITDA rising to NOK 583 million. The company achieved a net cash position of NOK 3.3 billion, reflecting a healthy financial status. Aker Solutions' order intake was NOK 7.0 billion with a backlog of NOK 48.0 billion, supporting its growth strategy amid a favorable market outlook. The CEO expressed confidence in exceeding 20% revenue growth for the full year despite ongoing geopolitical uncertainties.
Aker Solutions reported strong financial results for the fourth quarter of 2021, achieving revenues of NOK 8.7 billion and an EBITDA of NOK 593 million, with a margin of 6.8%. The company’s order intake reached NOK 9.3 billion, maintaining a backlog of NOK 49.2 billion. For the full year, revenues amounted to NOK 29.5 billion and EBITDA was NOK 1,871 million. A proposed dividend of NOK 0.20 per share reflects a solid financial position. The company anticipates a revenue increase of over 20% in 2022, bolstered by enhanced market activity and strategic contract wins.
Aker Solutions has secured a substantial contract from Petrobras for a subsea production system for the Mero 4 project, part of Brazil's pre-salt area. This marks the fourth consecutive contract for the Mero field, one of Brazil's largest oil discoveries. The contract involves the provision of up to 13 vertical subsea trees, control modules, and related equipment. Work will commence immediately, with installation slated for 2023-2025. The project reinforces Aker's long-term relationship with Petrobras and aims to enhance the development of Brazil's oil fields.
LKAB and Boliden have formed a partnership aimed at extracting pyrite concentrate from mining waste at the Boliden Aitik mine. The extracted pyrite will be used to produce fossil-free sulphuric acid, which LKAB will then use to extract rare earth elements and phosphorus from its mining waste. This initiative will also generate excess heat for LKAB's industrial park and create iron oxide as a by-product. The project is anticipated to be operational by 2027, bolstering the region's role in the climate transition.
Aker Solutions reported strong financial results for 3Q 2021, posting revenues of NOK 7.3 billion and an EBITDA of NOK 459 million, with a margin of 6.3%. The company achieved an order intake of NOK 9.5 billion, resulting in a backlog of NOK 48.4 billion. Significant contracts were secured, including a NOK 3 billion project for the Sunrise Wind offshore wind farm.
Management raised full-year revenue guidance to approximately NOK 29 billion, projecting a 15% increase for 2022, supported by high tendering activity.
Aker Solutions has secured a NOK 3 billion EPCI contract for a high-voltage direct current (HVDC) transmission system as part of a consortium for a large offshore wind project. The scope includes engineering, procurement, construction, and installation of an HVDC converter platform, with work commencing immediately. Installation is scheduled for the second half of 2024, with final deliveries expected in 2025. This contract will be recorded as order intake in the third quarter of 2021, boosting Aker's Renewables and Field Development segment.
Aker Solutions reported a strong second quarter of 2021, with revenues of NOK 7.0 billion and an order intake of NOK 12.2 billion, marking a 30% increase year-over-year. The EBITDA was NOK 392 million, corresponding to an EBITDA margin of 5.6%. Major contracts were secured, including a subsea gas compression system for Chevron, boosting the order backlog to NOK 45.8 billion. The company emphasizes a focus on energy transition, with 60% of new contracts tied to sustainable initiatives. The outlook remains positive for 2021 and beyond.
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