Aker Solutions Extends Growth Ambitions

Press Release
Wednesday, December 05, 2012

Aker Solutions announce it is on track to meet its 2015 growth targets, with growth to continue into at least 2017.

The company made its announcement on its recent capital markets day, sayiing that in 2010, Aker Solutions set an ambitious target of doubling the size of the company by 2015. The company is on track to reach this target. Year-to-date revenues (Q3) are 32.2 per cent higher than in the first nine months of 2011. Now the company sees growth continuing beyond 2015.

"Based on our record high order backlog of almost NOK 60 billion, and an estimated 10 per cent annual growth rate in offshore spending over the next five years, Aker Solutions, with its current portfolio of business areas, has the potential to double its revenues again - from 2012 to 2017," says Øyvind Eriksen, executive chairman of Aker Solutions.

The international oil services company today also outlines an ambition to increase its margins in parallel with the planned revenue growth. The aim is to increase the EBITDA margin further, up to approximately 15 per cent by the end of 2017.

"No-one should expect us to pursue revenue growth at the cost of profitability. Improvement in quality is the most significant contributor to the favourable development in Aker Solutions. Additionally, we will prioritise our financial and human resources harder than what we have done in the past, and develop a better balance in our portfolio of products and services," adds Øyvind Eriksen.

The compamy maintains its dividend policy of 30 - 50 per cent of the net profit, either through cash dividend and/or share buy-back.

Aker Solutions business is to provide oilfield products, systems and services for customers in the oil and gas industry world-wide. The company's knowledge and technologies span from reservoir to production and through the life of a field.


 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Ultra-deepwater Drillship 'Maersk Valiant' Delivered

Maersk Drilling advises that its second new drillship, 'Maersk Valiant', has been delivered from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea.

Miami Tugboat Oil Spill: Coast Guard Respond

The US Coast Guard says that its crewmembers are responding to a fuel spill in the vicinity of Government Cut in Miami, following a leak discovered aboard the 95-foot tugboat 'Neptune'.

Latest Shipbuilding Contracts Include VLCC Order for Philippine Yard

In the latest Clarkson Hellas S&P Weekly Bulletin newbuilding orders are reported in Far East shipyards for a range of vessels as follows: Bulk carriers Clarkson

Offshore

POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier,

BOEM gives more time to submit plans OCS

The Bureau of Ocean Energy Management (BOEM) announced today the publication of its Final Rule to extend time requirements for submitting a Site Assessment Plan

Offshore Driller Noble Corp Q1 Earnings Beat Forecasts

Noble Corp., a leading offshore driller, reported first-quarter net income on Wednesday of $0.99 a share, higher than consensus forecasts, as new rigs helped lift revenues.

Finance

POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier,

Holland American Line donates $100,000 to Desmond Tutu Peace Foundation

In honor of Archbishop Emeritus Desmond Tutu’s work to spread peace, justice and democracy around the globe, Holland America Line has made a $100,000 donation to

Woodside Q1 earning up, no Leviathan deal

Woodside Petroleum, Australia's largest independent oil and gas producer, reported a 5 percent rise in first quarter production on Thursday but said it had not

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1234 sec (8 req/sec)