Aker Solutions ASA: Q3 2012 Results

Press Release
Friday, November 02, 2012

Aker Solutions' operating revenues were NOK 11 158 million in the third quarter of 2012.

Year-to-date revenues are 32 percent higher than in the first nine months of 2011. Quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1,122 million with a margin of 10.1 percent.

"The quarter can be summarized in three headlines: continued stable operational performance, strong order intake and a number of breakthrough contracts," said Øyvind Eriksen, executive chairman of Aker Solutions.


The order intake in the quarter was NOK 16.9 billion. Order backlog at the end of the quarter stood at NOK 59.7 billion, an increase of 44 percent from the beginning of the year.


"For today's Aker Solutions - as a streamlined provider of oilfield products, systems and services - our order backlog is at its highest level ever. Furthermore, the backlog stretches over several years, thereby providing greater visibility of future operations. We remain on track to reach our objective of doubling in size from 2010 to 2015," adds Eriksen.


Aker Solutions were awarded some major contracts during the third quarter. The company signed a USD 250 million deal with Total E&P Angola to provide deepwater well intervention services from the Skandi Aker vessel. A contract was also won to deliver complete drilling equipment packages for six deepwater drillships being built by Jurong Shipyard for the Brazilian market.


Additionally, Aker Solutions was selected as management contractor to provide offshore construction and maintenance services to Brunei Shell Petroleum Co for NOK 2.3 billion.  "Just as important as the size and value of these three contracts is that they represent significant market breakthroughs in their respective segments. They are a result of long-term strategies and investments to get ourselves into winning positions," says Øyvind Eriksen.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

Day of Seafarer: ICS Highlights Seafarers Role in Migrant Rescues

Gerardo Borromeo, Vice Chairman of the International Chamber of Shipping (ICS) took the opportunity today to highlight the courage that is currently being displayed by seafarers,

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Contracts

UAE Top Court: Physical Bunkers Suppliers Have No Right to Recourse against Owners/Charterers

The OW saga - UAE Federal Supreme Court decides that physical suppliers of bunkers have no right to recourse against Owners/Charterers. In the first decision

Panama Opens Canal Extension Amid Risk, Cost Issues

Panama opened the long-delayed $5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping

Wärtsilä to Power Two Indian Dredgers

Wärtsilä has won an order for two new 8000m3 trailing suction hopper dredgers being built for the Adani group, India's largest private multi-port operator. The

Offshore

Norwegian Unions Say 755 O&G Workers Could Strike

About 755 Norwegian workers on seven oil and gas fields could go on strike from Saturday, hitting output from western Europe's top producer, if a new wage deal is not agreed before a Friday deadline,

POSH Bags Shell FLNG Contract

Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

Finance

Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year,

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

Panama Opens Canal Extension Amid Risk, Cost Issues

Panama opened the long-delayed $5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping

 
 
Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.1112 sec (9 req/sec)