Aker Solutions Reports Strong Profits With Increased Activities In Brazil And Abroad

Written by Paulo Nogueira

Published on 12/07/2018 at 08:59

Updated on 12/07/2018 at 09:06

Be the first to react!

The Norwegian Oil Services Company Aker Solutions Recorded an Increase in Profits and Revenues as Orders Nearly Doubled in the Second Quarter of 2018 Compared to the Previous Year Amidst a Recovery in Activity.a

In its Q2 2018 report on Thursday, Aker Solutions reported that its orders totaled NOK 5.7 billion (US $ 703 million) in the quarter, raising the backlog to NOK 37 billion (US $ 4.6 billion), with most projects coming from Norway. Revenue rose to NOK 6.3 billion in the second quarter of 2018, up from NOK 5.4 billion a year earlier, driven by increased modification work in the North Sea and ongoing progress on a number of key projects.

The company’s net profit rose to NOK 117 million, up from NOK 33 million in the same quarter of the previous year.

ARTICLE CONTINUES BELOW

See also

Aker Solutions noted that it is on track with its program to increase cost efficiency across the business by at least another 20% over the four years ending in December 2021.

“While the market remains highly competitive, activity is increasing as lower break-even costs and higher oil prices stimulate project sanctions,” said Aker Solutions CEO Luis Araujo.

“Our order volume in the quarter was nearly double that of the same period last year, and we are seeing high bidding activity in our key markets,” Araujo said.

Looking ahead, Aker Solutions said that the outlook for oil services remains competitive and there is pressure on prices. Still, there are even more signs of recovery amid lower break-even costs and higher oil prices.

Brazil Is One of the Key Assets

According to the company, bidding activity is high in the company’s key markets. Aker Solutions is offering contracts totaling about NOK 50 billion. About two-thirds of these are in the subsea area, where the company expects some major projects to be awarded in the next six to 12 months, including in Brazil, the UK, Africa, and Asia-Pacific.

Aker Solutions expects global revenue to rise by about 10% in 2018 compared to 2017, supported by strong order intake in the first half and continued high bidding activity. Want to Work at Aker Solutions? Click Here to Access Some Company Emails.

Aker Solutions Reports Strong Profits With Increased Activities In Brazil And Abroad

The Norwegian Oil Services Company Aker Solutions Recorded an Increase in Profits and Revenues as Orders Nearly Doubled in the Second Quarter of 2018 Compared to the Previous Year Amidst a Recovery in Activity.a

Brazil Is One of the Key Assets

Mayor orders wireless network turned off in municipal schools due to fear of electromagnetic radiation in children, replaces connection with Ethernet cables, and transforms small Italian city into a symbol of technological panic.

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

Goodbye traditional washing machine: Xiaomi surprises and launches an ultra-slim version with 27 programs, 3D water flow, steam sterilization, app control, enlarged drum, and a silent system with double suspension

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

Magalu has a clearance sale on JBL Boombox 4 with 210W of power, 34-hour battery, and 3-way system.

Venezuela sits on almost 20% of the planet’s proven oil, but exploring the Orinoco Belt could turn the world’s largest reserve into a climate, environmental, and industrial problem.

Neither robots, nor war drones: China transforms the Kunming dog into a national symbol of security, extreme resilience, keen sense of smell, and police autonomy at high altitudes.

White layer hidden in supermarket meat intrigues Brazilians and reveals an essential precaution before preparation

After being stalled at the TCU, the Santos-Guarujá submerged tunnel has R$ 2.6 billion in federal funding released, unblocking the connection between two coastal cities and entering a new phase under the requirement of legal governance.

The Yellowstone supervolcano may hide much more magma than science imagined: a study in Science rekindles fears of a volcanic winter capable of darkening the planet and collapsing crops for years.

Aker Solutions Reports Strong Profits With Increased Activities In Brazil And Abroad

The Norwegian Oil Services Company Aker Solutions Recorded an Increase in Profits and Revenues as Orders Nearly Doubled in the Second Quarter of 2018 Compared to the Previous Year Amidst a Recovery in Activity.a

Brazil Is One of the Key Assets

Mayor orders wireless network turned off in municipal schools due to fear of electromagnetic radiation in children, replaces connection with Ethernet cables, and transforms small Italian city into a symbol of technological panic.

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

Goodbye traditional washing machine: Xiaomi surprises and launches an ultra-slim version with 27 programs, 3D water flow, steam sterilization, app control, enlarged drum, and a silent system with double suspension

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

Magalu has a clearance sale on JBL Boombox 4 with 210W of power, 34-hour battery, and 3-way system.

Saltwater is encroaching on coastal aquifers worldwide: a study with 480,000 monitoring points reveals where underground freshwater reserves are becoming vulnerable to seawater intrusion.

Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.

Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.

Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.

Hungarian mothers began confronting electric car battery factories over fears of contaminated water and industrial waste, saying the green industry was poisoning the neighborhood.

Venezuela sits on almost 20% of the planet’s proven oil, but exploring the Orinoco Belt could turn the world’s largest reserve into a climate, environmental, and industrial problem.

Neither robots, nor war drones: China transforms the Kunming dog into a national symbol of security, extreme resilience, keen sense of smell, and police autonomy at high altitudes.

White layer hidden in supermarket meat intrigues Brazilians and reveals an essential precaution before preparation

After being stalled at the TCU, the Santos-Guarujá submerged tunnel has R$ 2.6 billion in federal funding released, unblocking the connection between two coastal cities and entering a new phase under the requirement of legal governance.

The Yellowstone supervolcano may hide much more magma than science imagined: a study in Science rekindles fears of a volcanic winter capable of darkening the planet and collapsing crops for years.