• About Us
  • Partners
  • Contact
Tuesday, September 19, 2023
  • Login
No Result
View All Result
NEWSLETTER
The Energy Intelligence
No Result
View All Result
The Energy Intelligence
No Result
View All Result
hhh hhh hhh
ADVERTISEMENT
Home Industry News

Improved Q2 results for Aker Solutions

by The Energy Intelligence
July 14, 2020
in Oil
0
Aker Solutions won several new contracts for projects on the Norwegian Continental Shelf in June, and the order intake is expected to be about NOK 7 billion in the quarter.

Aker Solutions won several new contracts for projects on the Norwegian Continental Shelf in June, and the order intake is expected to be about NOK 7 billion in the quarter.

0
SHARES
Share on FacebookShare on Twitter
Oman Petroleum and Energy Show
ADVERTISEMENT

Aker Solutions’ second quarter of 2020 developed positively compared to expectations earlier this year when the COVID-19 pandemic started.

This has resulted in significant improvement of revenue, earnings and order intake in the quarter, due to faster-than-expected implementation of cost-saving measures, higher activity than first anticipated on existing projects and several new contract awards.

In the second quarter, the company expects operating revenue of about NOK 5.4 billion and EBITDA of about NOK 230 million.

Excluding special items, EBITDA is expected to be about NOK 350 million.

Special items mainly relate to restructuring costs of about NOK 115 million as the company adjusted the organization following lower activity levels.

The result improved as Aker Solutions made good progress on its previously announced NOK 1 billion cost saving program.

The company also experienced increased activity in existing projects during the quarter, as the company and operators managed to keep activity levels up, despite restrictions imposed to manage the COVID-19 pandemic.

ADVERTISEMENT

Sanctioning activity increased after Norwegian authorities introduced temporary tax incentives for oil and gas companies to start new projects.

Aker Solutions won several new contracts for projects on the Norwegian Continental Shelf in June, and the order intake is expected to be about NOK 7 billion in the quarter.

Tags: Aker SolutionsNorwegian continental shelftax incentives for oil and gas companies
The Energy Intelligence

The Energy Intelligence

The Energy Intelligence is a leading energy media consultancy providing senior decision makers access to indepth analysis and commentary on the energy sector.

YES! Summit Connects Africa’s Youth with Opportunities in the Energy Sector

YES! Summit Connects Africa’s Youth with Opportunities in the Energy Sector

June 19, 2023
Game Changer: $100M equipment finance unleashed for solar companies in Nigeria

Game Changer: $100M equipment finance unleashed for solar companies in Nigeria

May 22, 2023
Top HR Expert to Promote Renewable Energy Career Opportunities at ELD 2023

Top HR Expert to Promote Renewable Energy Career Opportunities at ELD 2023

January 17, 2023

Popular News

    Tweet at us!

    Connect with us

    Newsletter

    Join thousands of other senior energy decision makers and gain access to exclusive stories and reports
    SUBSCRIBE

    Category

    • Amazons in Energy
    • Bio Energy
    • Clean Cooking
    • Climate Change
    • EnergyPreneur
    • Environment
    • Events
    • Food and Pharmaceuticals
    • Gas
    • Geothermal Energy
    • Governance
    • GreenTech Made in Africa
    • Hydro Power
    • Hydrogen Power
    • Industry News
    • Insight
    • Logistics
    • Magazine
    • Marine Services
    • Nuclear Power
    • Oil
    • Partners
    • Press Release
    • Recycling
    • Solar Energy
    • Solid Minerals
    • Sustainable Mobility
    • Technergy
    • Uncategorized
    • Wind Power

    Our Mission

    The Energy Intelligence is dedicated to focusing on all the key trends and developments that are emerging from within the Global Energy industry through Business Intelligence, Networking and Strategic Communications.

    • About Us
    • Partners
    • Contact

    © 2020 The Energy Intelligence. All rights reserved

    No Result
    View All Result
    • Home
    • Solid Minerals
    • Oil
    • Marine Services
    • Industry News
    • Insights
    • Partners

    © 2020 The Energy Intelligence. All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    You cannot copy content of this page