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OSLO, Norway, Feb. 11, 2025 /PRNewswire/ -- Aker Solutions delivered strong revenue growth with improved margins in 2024. The order backlog remains solid at NOK 61 billion and the tender pipeline grew to about NOK 86 billion at year end. Revenues in 2025 are expected to be around NOK 50 to 55 billion with EBITDA margins of 7.0 to 7.5 percent, excluding net income from OneSubsea. In addition, OneSubsea, where Aker Solutions owns 20 percent, has an ambition to distribute dividends of more than USD 250 million to its shareholders in 2025. Based on its robust financial position and positive outlook, Aker Solutions intends to pay out dividends of NOK 3.30 per share for 2024.
2024 Full-Year Financial Highlights
(excluding special items)
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Revenue NOK 53.2 billion
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EBITDA NOK 4.6 billion
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EBITDA margin 8.7 percent
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Earnings per share NOK 6.62
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Order intake NOK 40.1 billion (0.8x book-to-bill)
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Board of Directors will propose dividend of NOK 3.30 per share for 2024.
4Q 2024 Financial Highlights
(excluding special items)
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Revenue NOK 15.7 billion
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EBITDA NOK 1.2 billion
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EBITDA margin 7.8 percent
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Earnings per share NOK 1.70
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Order intake NOK 11.6 billion (0.7x book-to-bill)
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Order backlog NOK 60.9 billion
"Throughout 2024, we continued to raise the bar on our financial performance, carrying a strong momentum into 2025. I am also pleased to see how well our organization is managing the dual challenge of delivering an extensive project portfolio while developing the skills and solutions for the future," said Kjetel Digre, chief executive officer of Aker Solutions.
"It is also encouraging to see the value creation enabled through our 20 percent ownership in OneSubsea. As a proud co-owner and strategic partner, we see great opportunities going forward, which is well reflected in OneSubsea's target to distribute more than USD 250 million to its shareholders in 2025," said Digre.
Key developments
In the fourth quarter, revenue increased to NOK 15.7 billion from NOK 11.0 billion in the same period last year, representing a 43 percent increase. EBITDA excl. special items grew to NOK 1.2 billion or 7.8 percent, up from NOK 0.6 billion or 5.6 percent in the previous year. This was driven by continued strong performance in our Life Cycle segment, while negatively affected by additional losses in the legacy renewables projects, which will be delivered in 2025.
For the full year, revenues increased to NOK 53.2 billion, a year-on-year growth of 47 percent. EBITDA excl. special items for the full year was NOK 4.6 billion or 8.7 percent, up from NOK 1.3 billion or 3.6 percent in 2023. The underlying EBITDA-margin for 2024 excluding net income from OneSubsea was 7.3 percent.