Aker Solutions AS, a Norwegian engineering company, has provided a comprehensive overview of its strong financial performance for the fourth quarter of 2023 and the entire fiscal year. The company’s outlook for 2024 is optimistic, with intentions to propose a dividend and implement a share buyback program.

Aker Solutions AS, the distinguished Norwegian engineering firm, has recently disclosed its financial results for the fourth quarter of 2023 and the entirety of the year. The figures illustrate a promising trend of expansion, marked by notable increases in revenue and margins.

Key Highlights:

1. Impressive Financial Performance:
   • Aker Solutions witnessed a remarkable 33 percent revenue surge in Q4, reaching NOK 11.0 billion, with EBITDA climbing to NOK 615 million, reflecting an EBITDA margin of 5.6 percent.
   • The company’s annual revenue for 2023 reached NOK 36.1 billion, accompanied by an EBITDA of NOK 1,295 million and an EBITDA margin of 3.6 percent, demonstrating robust performance across the fiscal year.
   • Earnings per share for 2023 stood at a robust NOK 5.20, underscoring the company’s profitability.
2. Strong Order Intake and Backlog:
   • Aker Solutions reported a substantial order intake of NOK 35.3 billion, resulting in a book-to-bill ratio of 1.0x.
   • The company’s order backlog stood impressively at NOK 72.7 billion by the end of 2023, indicating a healthy pipeline of future projects.
3. Dividend Proposal and Share Buyback Program:
   • The Board of Directors proposed a dividend of NOK 2.00 per share for 2023, in line with the updated dividend policy aiming to distribute 40 to 60 percent of adjusted net income through dividends and share buybacks.
   • Aker Solutions announced plans to implement a share buyback program of up to NOK 500 million for 2024, demonstrating its commitment to shareholder returns and value creation.
4. Optimistic Outlook for 2024:
   • Aker Solutions anticipates a revenue increase of around 15 percent from 2023, with a significant improvement in EBITDA margins for the upcoming fiscal year.
   • The company’s positive outlook is fueled by major oil and gas projects reaching profit recognition milestones, as well as the successful formation of the OneSubsea joint venture, which reported strong Q4 revenues and a substantial backlog.
   • A robust tender pipeline of NOK 74 billion at year-end indicates favorable market conditions and increased demand for Aker Solutions’ energy services and solutions.

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Aker Solutions’ stellar financial performance, coupled with its optimistic outlook and strategic initiatives, positions the company for continued success and value creation in the energy sector.