Aker Solutions Report Solid, Not Spectacular Financial Progress

Press Release
Friday, February 15, 2013

Aker Solutions ASA release fourth quarter and preliminary annual results 2012.

Aker Solutions reported revenues of NOK 12.0 billion and earnings before interest, tax, depreciation and amortisation of NOK 1.2 billion in the fourth quarter of 2012. Based on the preliminary annual results, which show revenues of NOK 44.9 billion and EBITDA of NOK 4.7 billion, the Board of Directors proposes to pay a dividend of NOK 4.00 per share.

"The performance in the fourth quarter can be described as solid, rather than spectacular. The first full year of operation since the restructuring of Aker Solutions has generated strong results, mainly due to favourable development in the larger business areas like Subsea, Drilling Technologies, MMO and Engineering. Year-on-year group revenues increased 25 per cent and, when non-recurring items are excluded, the EBITDA margin improved by 2.4 percentage points compared with 2011. To put it succinctly, Aker Solutions develops and grows according to our five-year strategic plan", says Øyvind Eriksen, executive chairman of Aker Solutions.

Fourth quarter consolidated revenues amounted to NOK 12 034 million, an increase of 4 per cent compared with the corresponding quarter in 2011. EBITDA in the fourth quarter of 2012 rose 16.5 per cent to NOK 1 220 million. The figures include non-recurring items of NOK 160 million from the sale of real estate.

The increase in operating revenues and EBITDA reflect generally strong markets and high activity in the oil and gas industry. The EBITDA margin in the fourth quarter of 2012 was 10.1 per cent (adjusted EBITDA margin was 8.9 per cent). The corresponding figure for fourth quarter of 2011 was 9.0 per cent. Order intake in the fourth quarter was NOK 9.1 billion, taking the order backlog to NOK 56.7 billion at the end of the year. Revenues for the year rose 23 per cent to NOK 44 922 million from NOK 36 474 million. EBITDA for the year was NOK 4 739 million compared to NOK 3 445 million for the year 2011. The full-year EBITDA margin was 10.5 per cent compared to 9.4 per cent in 2011.

Dividend proposal
Earnings per share for 2012 were NOK 8.44. The board has resolved to propose to the annual general meeting in 2013 that the company pays NOK 4.00 per share in dividend for 2012.






 

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

People & Company News

Modern Solutions Power Systems Conference

Thomas Alva Edison, who is considered to be one of the most prolific inventors in history, once said, “I find out what the world needs. Then I go ahead and try to invent it.

MSI Develops LNG Bunkering Safety Training

The Maritime Simulation Institute in Middletown, Rhode Island is developing a liquefied natural gas (LNG) bunkering safety training course. The first session, which is expected to begin in June,

Cool Runnings: R.W. Fernstrum's Engineered Solutions

A hallmark of the global maritime industry is the proliferation of smaller, family founded and managed businesses. R.W. Fernstrum is one such company: a ubiquitous

Finance

CNR: Innovation Maintains US Naval Advantages

An interview with Rear Adm. Matt Klunder, U.S. Navy Chief of Naval Research What are your near term, mid-term and long term science and technology (S&T) objectives?

BIMCO: Positive Economic Developments Benefits Shipping

The recovery of the Eurozone continues as job creation returns across the region. The hiring of more staff indicates that manufacturing and service industries believes

Korean Prosecutors Raid Home of Ferry's Owner

Prosecutors investigating the fatal sinking of a South Korean ferry have raided the home of Yoo Byung-un, the head of a family that owns the Chonghaejin Marine Co.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1495 sec (7 req/sec)