Aker Solutions

Aker Solutions ASA (OSE: AKSO) is a global engineering company headquartered in Fornebu, Norway. The company provides integrated solutions, products and services to the global energy industry, enabling low-carbon oil and gas production and developing renewable solutions. In February 2024, Aker Solutions reported annual revenue of NOK 36.1 billion for 2023.

Aker Solutions operates through several business segments:

• Front-End Studies and Engineering Services

• Renewable Energy Solutions

• Low-Carbon Oil and Gas Solutions

• Fixed and Floating Solutions

• Subsea Production Systems and lifecycle Services

• Maintenance, Modifications and Decommissioning

The company delivers complex energy projects utilizing digital technology, strategic partnerships and problem-solving expertise. Key offerings include subsea production systems, offshore platforms, and carbon capture solutions. Aker Solutions also provides engineering and project management services for oil and gas field developments.

In October 2023, Aker Solutions formed the OneSubsea joint venture, which reported revenues of NOK 10.7 billion in Q4 2023 with a 19% EBITDA margin. The company has a positive market outlook, expecting increased energy spending in coming years. For 2024, Aker Solutions forecasts revenue growth of around 15% compared to 2023. The company aims to distribute 40-60% of adjusted net income through dividends and share buybacks over time, proposing a dividend of NOK 2.00 per share for 2023 and implementing a share buyback program of up to NOK 500 million for 2024.