- AKSO.OL
- AKSOA
Investing.com — Shares in Aker Solutions fell over 5% on Wednesday after the Norwegian oilfield engineering group guided to a roughly 30% drop in 2027 revenue and reported third-quarter order intake almost half the level of a year earlier.
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Aker expects 2027 revenue of NOK 35-40 billion with an EBITDA margin (operating profit before depreciation) of 7-8%, excluding net profit from its SLB OneSubsea stake, as it reduces costs to match lower expected activity.
For 2026 it guided revenue of NOK 53-55 billion and a margin of 7.5-8.0% on the same basis.
Third-quarter order intake was NOK 5.40 billion versus NOK 10.32 billion a year earlier, a book-to-bill ratio (orders to revenue) of 0.4x versus 0.6x.
Life Cycle unit order intake was NOK 1.23 billion versus NOK 2.59 billion, which Aker said is lumpy by nature because it depends on large long-term frame agreements and project award timing. Backlog was NOK 69.35 billion versus NOK 77.17 billion in the second quarter.
Revenue was NOK 13.46 billion versus NOK 16.98 billion a year earlier, which Aker said was in line with expectations after peak activity in 2025.
EBITDA excluding one-off items was NOK 1.29 billion versus NOK 1.49 billion a year earlier, a margin of 9.6% versus 8.8%. Excluding OneSubsea profit, the margin was 7.7% versus 7.2% and EBITDA was NOK 1.01 billion versus NOK 1.20 billion.
Net profit from the SLB OneSubsea stake was NOK 281 million versus NOK 295 million a year earlier.
OneSubsea’s own net profit before purchase price adjustments was $152 million, impacted by a one-off tax provision release.
Aker described its legacy lump sum projects as “commercially and operationally challenging” and said commercial discussions are ongoing.
Renewables and Field Development EBITDA excluding one-off items was NOK 775 million, a margin of 8.4% versus 8.0% a year earlier, which Aker said was negatively affected by legacy lump sum projects.
Net cash was NOK 5.77 billion, including NOK 2.05 billion in liquid funds. Aker expects working capital, NOK -7.78 billion at quarter-end, to settle at NOK -4 to -6 billion over time.
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