By Dominic Chopping
Aker Solutions on Thursday posted a forecast-beating rise in second-quarter earnings and raised its full-year revenue guidance amid increasing activity in the energy sector.
The energy-industry service provider reported a second-quarter net profit attributable to shareholders of 528 million Norwegian kroner ($52.2 million), compared with NOK269 million a year earlier. Revenue rose 34% to NOK14.25 billion.
Analysts polled by FactSet had forecast net profit of NOK444 million on revenue of NOK12.41 billion.
The company said the outlook remains positive with a high order backlog offering good visibility on activity levels for years to come.
For 2023, the company now sees full-year revenue increasing by about 30% versus 2022, from more than 15% previously. The underlying earnings before interest, tax, depreciation and amortization margin is still expected to be higher.
Order intake in the quarter was NOK12.3 billion from NOK13.6 billion last year, as the backlog rose to NOK97.7 billion from NOK52.7 billion, the company said.
A FactSet poll had seen order intake of NOK9.06 billion with a backlog of NOK92.31 billion.
Aker Solutions is currently tendering for contracts valued at around NOK100 billion.
Write to Dominic Chopping at [email protected]
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