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Aker Solutions Q2 Net Income Rises; Revenue Up 15% - Quick Facts

Aker Solutions ASA (AKKVF.PK) reported second-quarter net income of 117 million Norwegian Kroner compared to 33 million Kroner, prior year. Earnings per share was 0.42 Kroner compared to 0.08 Kroner. Earnings before interest, taxes, depreciation and amortization (EBITDA) was 439 million Norwegian Kroner, compared to 305 million Kroner a year earlier. Underlying EBITDA increased by 10% year-on-year to 441 million Kroner. Earnings per share ex. special items was 0.48 Kroner, compared to 0.34 Kroner.

Second-quarter revenue rose to 6.3 billion Norwegian Kroner from 5.4 billion Kroner a year earlier, driven by increased North Sea modifications work and continued good progress on a number of key projects. Orders totaled 5.7 billion Kroner in the quarter, bringing the backlog to 37 billion Kroner.

Aker Solutions' CEO Luis Araujo said: "Our order intake in the quarter was almost double the same period a year earlier and we're seeing high tendering activity in our main markets."

Looking forward, Aker Solutions sees overall revenue up by close to 10 percent in 2018 from 2017, helped by the strong order intake in the first half and continued high tendering activity.

by RTTNews Staff Writer

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