30 April 2009 - Aker Solutions first quarter results show consolidated revenues at NOK 14.9 billion and an EBITDA of NOK 1.1 billion. The EBITDA margin was 7.5 percent in the first quarter. Order intake in the first quarter was NOK 10.7 billion.
30 Apr 09
"This is a good result. The order intake reflects the downturn in our markets, but we are very pleased with winning more than 75 percent of our targeted contracts. This reflects our strong focus on maintaining our competitiveness to meet the increased uncertainties in our markets," says Simen Lieungh, President & CEO of Aker Solutions.
Both the Subsea and Product & Technologies business areas increased their revenues by 7 percent compared to the first quarter of 2008, while Energy Development & Services' (ED&S) revenues were 8 percent lower in the first quarter 2009 compared to the same period last year. ED&S has however secured a strong order intake in the first quarter with an estimated value of NOK 2.3 billion.
As part of Aker Solutions' long-term profitable growth strategy, the company announced several strategic acquisitions and a closer integration of its holdings in the beginning of April 2009. Worth some NOK 2 billion, the acquisitions reflect the industrial strategy - strengthening the group's position in well intervention, expanding its offshore marine operations and further developing its technology portfolio.
"We have a solid balance sheet, and the acquisitions we have made are results of long-term industrial development based on long-term trends in our markets. With these transactions we extend the foundation for further industrial development in the interface between energy, the environment and maritime operations - industries which we believe have solid long-term growth potential," adds Lieungh.
Aker Solutions maintains the outlook for 2009, expecting an EBITDA of NOK 4.5 billion and consolidated revenues in excess of NOK 50 billion.
ENDS
For further information, please contact:
Media:
Jannik Lindbæk, SVP Corporate Communications, Aker Solutions. Tel: +47 67 51 30 36, Mob: +47 977 55 622
Investor relations:
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39, Mob: +47 911 37 194
Aker Solutions ASA, through its subsidiaries and affiliates ("Aker Solutions"), is a leading global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation. The Aker Solutions group is organised in a number of separate legal entities. Aker Solutions is used as the common brand/trademark for most of these entities.
Aker Solutions' parent company is Aker Solutions ASA. Aker Solutions has aggregated annual revenues of approximately NOK 58 billion and employs approximately 23 000 people in about 30 countries.
Aker Solutions is part of Aker (
www.akerasa.com), a group of premier companies with a focus on energy, maritime and marine resource industries. The Aker companies share a common set of values and a long tradition of industrial innovation. As an industrial owner controlling 40.27 percent of the shares in Aker Solutions through Aker Holding AS, Aker ASA takes an active role in the development of Aker Solutions.
This press release may include forward-looking information or statements and is subject to our disclaimer, see
www.akersolutions.com.
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