Aker Options ASA has reported NOK 15.71 billion ($1.41 billion) in income for the fourth quarter (This fall) of 2024, up 41.97 p.c from the identical three-month interval final yr, attributing the rise to excessive exercise throughout segments and places.
Income excluding particular gadgets totaled NOK 15.708 billion for This fall 2024, up 42.53 p.c year-on-year (YoY). The changes have been primarily acquisition prices, restructuring prices, impairments, prices linked to the impression of foreign money derivatives not qualifying for hedge accounting and modifications within the worth of SLB shares, Aker Options mentioned in its quarterly report.
Aker Options, SLB and Subsea7 are co-venturers in subsea provider One Subsea, which contributed NOK 166 million to Aker Options’ This fall internet revenue.
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Internet revenue excluding particular gadgets rose 117.4 p.c year-over-year to NOK 837 million, or NOK 1.7 per share.
Earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) climbed 99.78 p.c year-on-year to NOK 1.19 billion. EBITDA excluding particular gadgets elevated 5.6 p.c year-on-year to NOK 1.2 billion. “This was pushed by continued sturdy efficiency in our Life Cycle section, whereas negatively affected by extra losses within the legacy renewables initiatives, which will likely be delivered in 2025”, the vitality engineering firm mentioned in its quarterly report.
EBIT elevated 209.85 p.c year-on-year to NOK 849 million. Excluding particular gadgets, EBIT elevated 125.95 p.c to NOK 888 million.
Internet money circulate from working actions was NOK 1.18 billion, up 99.86 p.c year-on-year.
Oslo-listed Aker Options distributed NOK 10 billion in extraordinary dividends throughout This fall. The board is proposing NOK 3.3 dividend per share for 2024. “The dividend cost represents roughly 50 p.c of internet earnings excl. particular gadgets, according to the atypical dividend coverage”, the corporate mentioned.
Aker Options ended 2024 with NOK 17.92 billion in present property together with NOK 2.86 billion in money and money equivalents. Its present liabilities stood at NOK 21.19 billion.
“The outlook stays optimistic for Aker Options, with a stable order backlog and excessive exercise inside tenders and early-phase research”, the corporate mentioned. Backlog totaled NOK 61 billion.
“The corporate is actively engaged in early-phase research on future large-scale alternatives throughout the vitality market, with revenues within the consultancy enterprise rising greater than 50 p.c in 2024”, Aker Options added. The consultancy arm was launched in Q2 2024.
“The corporate stays very selective about which contracts it takes on and continues to be vigilant about capability”, it mentioned.
Aker Options expects 2025 income to land between NOK 50 billion and NOK 55 billion.
Chef government Kjetel Digre mentioned, “All through 2024, we continued to boost the bar on our monetary efficiency, carrying a robust momentum into 2025”.
“Additionally it is encouraging to see the worth creation enabled via our 20 p.c possession in OneSubsea”, Digre added. “As a proud co-owner and strategic companion, we see nice alternatives going ahead, which is nicely mirrored in OneSubsea’s goal to distribute greater than USD 250 million to its shareholders in 2025”.
To contact the writer, e mail jov.onsat@rigzone.com
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