OSLO, Norway, Feb. 11, 2025 — Aker Solutions achieved robust revenue growth and improved profit margins in 2024. The order backlog remains strong at NOK 61 billion, and the prospective project pipeline increased to approximately NOK 86 billion by year’s end. Projected 2025 revenue is estimated at NOK 50 to 55 billion, with EBITDA margins of 7.0 to 7.5 percent, excluding OneSubsea’s net income. Furthermore, OneSubsea, in which Aker Solutions holds a 20 percent stake, aims to distribute over USD 250 million in dividends to its shareholders in 2025. Given its solid financial standing and positive outlook, Aker Solutions plans to distribute a dividend of NOK 3.30 per share for 2024.

2024 Full-Year Financial Highlights
(excluding special items)

• Revenue NOK 53.2 billion
• EBITDA NOK 4.6 billion
• EBITDA margin 8.7 percent 
• Earnings per share NOK 6.62 
• Order intake NOK 40.1 billion (0.8x book-to-bill) 
• The Board of Directors will propose a dividend of NOK 3.30 per share for 2024.

4Q 2024 Financial Highlights
(excluding special items)

• Revenue NOK 15.7 billion
• EBITDA NOK 1.2 billion 
• EBITDA margin 7.8 percent 
• Earnings per share NOK 1.70 
• Order intake NOK 11.6 billion (0.7x book-to-bill)
• Order backlog NOK 60.9 billion

“Throughout 2024, we consistently improved our financial performance, carrying this positive momentum into 2025. I am also pleased with our organization’s effective management of the dual challenge of delivering a significant project portfolio while simultaneously developing future skills and solutions,” stated Kjetel Digre, chief executive officer of Aker Solutions.

“The value creation facilitated by our 20 percent ownership in OneSubsea is also encouraging. As a committed co-owner and strategic partner, we see significant future opportunities, as clearly demonstrated by OneSubsea’s target to distribute over USD 250 million to its shareholders in 2025,” Digre added.

Key developments

In the fourth quarter, revenue rose to NOK 15.7 billion from NOK 11.0 billion in the same period of the previous year, representing a 43 percent increase. EBITDA, excluding special items, increased to NOK 1.2 billion or 7.8 percent, up from NOK 0.6 billion or 5.6 percent the previous year. This growth was driven by the continued strong performance of the Life Cycle segment, partially offset by additional losses in legacy renewable energy projects, scheduled for completion in 2025.

For the full year, revenues increased to NOK 53.2 billion, a year-on-year increase of 47 percent. Full-year EBITDA, excluding special items, reached NOK 4.6 billion or 8.7 percent, compared to 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.

Aker Solutions secured new orders totaling NOK 11.6 billion during the quarter, resulting in a book-to-bill ratio of 0.7x for the period. Total order intake for 2024 was NOK 40.1 billion. The secured backlog at the year’s end was NOK 60.9 billion, primarily comprising projects under the established alliance model with Aker BP.

During the fourth quarter, Aker Solutions paid an extraordinary dividend of NOK 10 billion. The net cash position at year-end was NOK 2.9 billion, positively impacted by a one-time effect of approximately NOK 1.3 billion from cash in transit related to the joint venture in Dubai.

Outlook

The outlook remains positive for Aker Solutions, with a strong order backlog and significant activity in tenders and early-stage projects. The tender pipeline at year-end was approximately NOK 86 billion. The company is actively involved in early-phase studies for future large-scale opportunities across the energy market, with consultancy business revenue growing by over 50 percent in 2024. The company maintains a highly selective approach to contract selection and continues to carefully manage its capacity.

Based on the secured order backlog and ongoing projects, the company anticipates full-year revenue in 2025 to range between NOK 50 and 55 billion. EBITDA margins are projected to be in the range of 7.0 to 7.5 percent, excluding net income from OneSubsea. In addition, OneSubsea, in which Aker Solutions holds a 20 percent stake, is expected to distribute dividends exceeding USD 250 million to its shareholders in 2025.

Capital Allocation and Dividend

Given Aker Solutions’ financial strength and positive outlook, the Board of Directors will propose a dividend of NOK 3.30 per share for the 2024 fiscal year, payable in 2025, subject to approval at the Annual General Meeting on April 28, 2025. This dividend payment represents approximately 50 percent of net income excluding special items, aligning with the company’s standard dividend policy. 

Preben Ørbeck
investor relations

+47 470 10 611

Hallvard Norum
media contact

+47 913 80 820

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