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

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Offshore

Coast Guard tactical air squadron holds change of command ceremony

Capt. Kevin P. Gavin relieved Capt. Donna L. Cottrell as commanding officer of Coast Guard Helicopter Interdiction Tactical Squadron Jacksonville during a change of command ceremony at HITRON Friday.

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Finance

Saudi SABIC Q1 Profit Falls 1.8 % On Product Prices

Profit at Saudi Basic Industries Corp (SABIC), one of the world's biggest petrochemical firms, slipped 1.8 percent in the first quarter of this year as lower

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue.

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Ship Simulators 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: 0.1364 sec (7 req/sec)