Aker Solutions revenue up by 15 percent in 2022
Aker Solutions delivered solid financials in the fourth quarter and for full-year 2022, as revenue and margins increased, according to the company's release.
Aker Solutions expects revenue to be up by around 15 percent in 2023 from 2022. The Board of Directors proposes a dividend of NOK 1.00 per share for 2022.
Revenue in the fourth quarter increased to NOK 12.5 billion from NOK 8.7 billion a year earlier. EBITDA excl. special items increased to NOK 999 million or 8.0 percent, up from NOK 593 million or 6.8 percent the year before. Aker Solutions ended the year with a net cash position of NOK 5.1 billion, excluding lease liabilities, up from NOK 2.2 billion at the end of 2021, driven by increased margins and improved working capital. The company’s financial position is solid.
In the quarter, Aker Solutions won record-high order intake of NOK 59.3 billion, which represents a book-to-bill ratio of 4.8x for the period. For the full year 2022, the company delivered an order intake of NOK 88.2 billion. This increased the order backlog to a record level of NOK 97.3 billion, of which 60% is related to the NCS activity package.
The Subsea JV transaction announced in the third quarter 2022 is progressing as planned. The transaction continues to be expected to close during the second half of 2023, pending regulatory approvals.
Given the company’s solid financial position and positive outlook, the Board of Directors has proposed a dividend payment of NOK 1.00 per share to be paid in 2023, for the fiscal year 2022. This equals 40 percent of the 2022 net profit. This is a substantial increase from NOK 0.20 per share for 2021, or 30 percent of net profit.
The outlook remains positive for Aker Solutions overall and the company sees increased market activity moving forward.
Aker Solutions delivered a strong revenue growth of 41 percent in 2022. Based on secured order backlog and ongoing projects, the company expects full-year revenue in 2023 to be up by around 15 percent.
Aker Solutions delivers integrated solutions, products and services to the global energy industry. Aker Solutions employs approximately 15,000 people in more than 20 countries.
