Aker Solutions: highlights 'strong execution' in 2nd quarter
(CercleFinance.com) - Norwegian oil services company Aker Solutions said it delivered another period of "strong execution" on its major projects in the second quarter, despite revenue falling 22%.
The Oslo-listed firm said revenue fell to 5.4 billion Norwegian kronor in the quarter, from 7 billion Norwegian kronor a year earlier.
Second-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) reached 305 million Norwegian kronor in the quarter, compared with 563 million kronor a year earlier.
Aker said the market outlook for oil services remains challenging amid project postponements, and a volatile oil price.
The company hence continues to see overall revenue down by about 10-15% year-on-year in 2017.
The shares were soaring almost 11% at 40.3 Norwegian kronor today after the report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The Oslo-listed firm said revenue fell to 5.4 billion Norwegian kronor in the quarter, from 7 billion Norwegian kronor a year earlier.
Second-quarter earnings before interest, taxes, depreciation and amortization (EBITDA) reached 305 million Norwegian kronor in the quarter, compared with 563 million kronor a year earlier.
Aker said the market outlook for oil services remains challenging amid project postponements, and a volatile oil price.
The company hence continues to see overall revenue down by about 10-15% year-on-year in 2017.
The shares were soaring almost 11% at 40.3 Norwegian kronor today after the report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.