Aker Solutions: adjusted earnings almost doubled in 2023

(CercleFinance.com) - Aker Solutions reports sales of 11 billion Norwegian kroner (NOK) - or almost one billion euros - for Q4 2023, representing an increase in business of almost 34% compared with Q4 2022.


At the same time, adjusted EBITDA increased by a factor of around 2.5 (+168%) to NOK 615 million, while adjusted net income fell by 26% to NOK 385 million.

Aker Solutions thus posted adjusted EPS of NOK 0.96 in Q4, compared with NOK 1.09 NOK a year earlier.

For the full year, the Norwegian industrialist recorded sales of NOK 36 billion, up 31% on 2022, while adjusted EBITDA reached NOK 1,295 million (+93%).

Finally, adjusted net profit almost doubled (+98%) to NOK 2,428 million, giving adjusted EPS of NOK 5.2, compared with NOK 2.53 previously.

The company is proposing a dividend of NOK 2/share for 2023.

As for the future, backed by its secure order book and ongoing projects, the company is targeting 2024 sales growth of almost 15%.

Aker Solutions believes that EBITDA margins should also "increase considerably in 2024", as major oil and gas projects pass profit recognition milestones.


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