Aker Solutions predicts near 10% boost to revenues in 2019

Aker Solutions' base in Dyce, Aberdeen
Aker Solutions' base in Dyce, Aberdeen

Aker Solutions has predicted overall revenues this year will jump by nearly 10 percent from 2018 on the back of a strong order book and tendering activity.

The energy services firm reported revenues of £642.5m in its first quarter results for 2019, up from £482m in the same period last year.

Full-year revenues in 2018 were £2.2billion.

Meanwhile pre-tax income was £20.1m for the first quarter, up from £14.1m in 2018.

Norway makes up the brunt of its £2.9bn order backlog at 58%, with the UK making up 7%.

Other markets include South America (12%), Asia Pacific (11%), Africa (8%) and North America (5%).

The firm pointed to work on major projects including Equinor’s Johan Sverdrup in Norway and Totals’ Kaombo South in Angola.

Going forward, the firm said it is currently bidding for contracts worth £4.9bn.

CEO Luis Araujo said: “An active market for early phase studies, combined with high project tendering activity, means the company is well positioned to take advantage of current market conditions.”

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Craigmill, Pitcaple, Inverurie, Aberdeenshire, United Kingdom, AB51 5HP
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