The following is a summary of the Aker Solutions ASA (AKRTF) Q2 2024 Earnings Call Transcript:
Financial Performance:
Aker Solutions reported Q2 revenue of NOK12.8 billion, a 45% growth year-on-year, driven by strong project execution and contributions from OneSubsea.
Underlying EBITDA for Q2 stood at NOK1.2 billion with a margin of 9.5%, reflecting a robust operational performance.
Net income for the quarter rose to NOK862 million, showcasing substantial profitability improvements.
Business Progress:
Successfully initiated sea trials for the Castberg FPSO, which will contribute to energy security and value creation for the next 30 years.
Engaged in significant projects such as the Adriatic LNG facility's debottlenecking in Italy and major electrification projects like Draugen power from shore and Troll West reducing carbon emissions by about 500,000 tonnes annually.
Opportunities:
Aker Solutions is expanding services in their newly launched ENTR energy consultancy, indicating growing capabilities in the complex energy landscape.
The secured high-value backlog gives Aker Solutions clear visibility on future activity levels, with services in high demand allowing selectivity in project engagements.
Risks:
No explicit risks detected.
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
