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Yahoo
30-04-2025
- Business
- Yahoo
Aker Solutions ASA: First-Quarter Results
OSLO, Norway, April 30, 2025 /PRNewswire/ -- Aker Solutions has delivered high revenue growth and a strong order intake in the first quarter of 2025. The company continues to have a solid order backlog and high tender activity. Earlier this week, the Annual General Meeting approved the cash dividend of NOK 3.30 per share for the fiscal year of 2024. 1Q 2025 Financial Highlights (all figures excluding special items) Revenue NOK 14.4 billion EBITDA NOK 1.2 billion EBITDA margin 8.4 percent Earnings per share NOK 1.35 Order intake NOK 25.6 billion (1.8 times book-to-bill) Order backlog NOK 72.1 billion "We are keeping up momentum in yet another high-activity quarter, resulting in good progress on our project portfolio and solid financials. This speaks volumes about the strength and resilience of our organization," said Kjetel Digre, Chief Executive Officer of Aker Solutions. "Our recent contract wins show that we remain a competitive and trusted partner in the broader energy market. At the same time, we continue our efforts together with our clients and strategic partners to improve productivity and drive down costs," said Digre. Key developments Revenue in the first quarter increased to NOK 14.4 billion compared to NOK 11.5 billion in the first quarter of 2024, representing a growth of 25 percent. EBITDA increased to NOK 1,213 million, compared to NOK 987 million in the same quarter last year. The underlying EBITDA margin for the quarter was 8.4 percent, or 7.2 percent if excluding the net income from OneSubsea. As previously disclosed, the legacy renewables projects have been both operationally and commercially challenging. The projects are progressing for delivery in 2025. Discussions are ongoing with both clients and subcontractors to solve these commercial challenges. Order intake for the quarter ended at NOK 25.6 billion, or 1.8-times book-to-bill. Most of the new orders relate to the 'second generation' of renewables and transitional energy projects in Aker Solutions, with balanced risk-reward profiles and focus on standardization to reduce costs. The secured order backlog at the end of the quarter stood at NOK 72.1 billion. OneSubsea, owned 20 percent by Aker Solutions, also delivered strong financial results in the period, with an EBITDA margin of 20.4 percent. OneSubsea has an attractive dividend policy with ambitions to distribute more than USD 250 million during the year. During the first quarter, Aker Solutions received NOK 152 million in quarterly dividends from OneSubsea. Aker Solutions' financial position remains solid with a net cash position of NOK 3.4 billion at the end of the first quarter. Outlook and financial guiding The company continues to have a solid order backlog and a large tender pipeline of about NOK 85 billion, dominated by oil and gas opportunities in Europe. Based on the secured backlog and market activity, full year revenue in 2025 is now expected to exceed NOK 55 billion. At this early stage, the underlying EBITDA margin, excluding net income from OneSubsea, is expected to be in the 7.0-7.5 percent range for the full year of 2025. Earlier this week, the Annual General Meeting approved the cash dividend of NOK 3.30 per share which will be paid on May 8, 2025. CONTACT: Preben Ørbeckinvestor +47 470 10 611 Hallvard Norummedia +47 913 80 820 This information was brought to you by Cision The following files are available for download: 1Q-2025-Presentation View original content: SOURCE Aker Solutions ASA Sign in to access your portfolio
Yahoo
28-01-2025
- Business
- Yahoo
SLB Capturi, Aker Solutions delivering carbon capture solution for Hafslund Celsio
SLB Capturi and Aker Solutions have been granted an engineering, procurement, construction, installation and commissioning (EPCIC) contract from Hafslund Celsio, to deliver a carbon capture solution at Halslund's waste-to-energy facility based in Klemetsrud, Oslo. Hafslund Celsio is one of the largest producer and supplier of district heating in Norway and supplied 25% of the district heating generated in the naition in 2023. The company's carbon capture project is part of Longship, Norway's full value-chain carbon capture and storage (CCS) project. This project is the second carbon capture plant within Longship, where SLB Capturi is already delivering the carbon capture plant at Heidelberg Materials' cement facility in Brevik, southern Norway, in collaboration with Aker Solutions. Kjetel Digre, CEO of Aker Solutions, said in a statement that the collaboration 'marks a significant milestone for Aker Solutions and the CCS industry in Norway.' Aker Solutions recently signed a partnership agreement with Vår Energi, to provide maintenance and modification services for assets and projects on the Norwegian Continental Shelf (NCS). The contract includes the delivery of a carbon capture plant, liquefaction system, temporary storage and a loading facility at the waste incineration site. It also includes an intermediate CO2 storage and ship-loading system at Oslo harbour. From here, the CO2 will be transported to the Northern Lights permanent storage facility on the NCS. The new carbon capture plant is forecast to capture 350,000 metric tonnes of CO2 annually. The EPCIC contract follows a cost reduction phase for Hafslund Celsio's project, which identified opportunities for efficiencies. The project will now be delivered based on SLB Capturi's modularised Just Catch 400 unit. Egil Fagerland, chief executive officer, SLB Capturi, said 'standardisation and modularisation play a key role in shifting the economics of carbon capture projects.' 'We are extremely proud of our collaboration with Hafslund Celsio and Aker Solutions to align our Just Catch plant design with the techno-economic requirements of this project to help make it a reality,' he added. "SLB Capturi, Aker Solutions delivering carbon capture solution for Hafslund Celsio" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
28-01-2025
- Business
- Yahoo
Schlumberger JV Lands Carbon Capture Deal In Oslo, Norway: Details
SLB Capturi, a joint venture between Schlumberger (NYSE:SLB) and Aker Solutions, secured an engineering, procurement, construction, installation, and commissioning (EPCIC) contract from Hafslund Celsio. The company plans to deliver a carbon capture solution at its Klemetsrud waste-to-energy facility in Oslo. The contract includes a carbon capture plant, liquefaction system, temporary storage, and a loading facility at the waste incineration site, along with an intermediate CO2 storage and ship loading system at Oslo harbor. The project will use SLB Capturi's modularized Just Catch 400 unit, which enables a cost-effective solution by minimizing onsite footprint, installation, and outfitting work. The plant is expected to capture 350,000 metric tons of CO2 annually, upon operational, which will be transported to the Northern Lights storage facility. The EPCIC award follows a cost-reduction phase that identified efficiencies, including layout optimization. The project is part of Longship, Norway's full value-chain CCS initiative. Hafslund Celsio's project is the second carbon capture plant in Longship, with SLB Capturi also delivering the carbon capture plant at Heidelberg Materials' Brevik cement facility in collaboration with Aker Solutions. Martin S. Lundby, chief executive officer at Hafslund Celsio, stated, 'Our partners bring valuable expertise from large industrial developments both in Norway and internationally. Together, we will construct a carbon capture solution that is expected to be operational by third quarter 2029.' 'This project is a testament to important public and private collaboration to build an industrial value chain for carbon capture and storage. The project will also significantly contribute to reducing emissions and will create value for both industry and society,' added Kjetel Digre, CEO of Aker Solutions. Last week, SLB, along with Star Energy Geothermal, a subsidiary of Indonesian renewable energy company Barito Renewables, entered into a partnership to boost geothermal technology. Recently, the company reported better-than-expected fourth-quarter 2024 results, with revenue of $9.28 billion, beating the consensus of $9.18 billion. Adjusted EPS increased 7% to 92 cents, above the consensus of 90 cents. SLB raised its dividend by 3.6% and initiated $2.3 billion in accelerated share repurchase, boosting shareholder returns. Investors can gain exposure to the stock via iShares U.S. Oil Equipment & Services ETF (NYSE:IEZ) and VanEck Oil Services ETF (NYSE:OIH). Price Action: SLB shares are down 0.40% at $42.08 premarket at the last check Monday. Read Next:Image via Shutterstock. Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? SCHLUMBERGER (SLB): Free Stock Analysis Report This article Schlumberger JV Lands Carbon Capture Deal In Oslo, Norway: Details originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Associated Press
27-01-2025
- Business
- Associated Press
SLB Capturi and Aker Solutions Win Contract To Deliver Carbon Capture Solution for Hafslund Celsio
SLB (NYSE: SLB) today announced that SLB Capturi, in collaboration with Aker Solutions, has been awarded an engineering, procurement, construction, installation and commissioning (EPCIC) contract from Hafslund Celsio AS to deliver a carbon capture solution at its waste-to-energy facility in Klemetsrud, Oslo. Hafslund Celsio is Norway's largest district heating supplier and the owner and operator of Norway's largest waste-to-energy plant. Hafslund Celsio's carbon capture project is part of Longship, the Norwegian Government's full value-chain carbon capture and storage (CCS) project. The contract award includes delivery of a carbon capture plant, liquefaction system, temporary storage, and a loading facility at the waste incineration site. It also includes an intermediate CO2 storage and ship loading system at Oslo harbor, from where the CO2 will be transported to the Northern Lights permanent storage facility on the Norwegian continental shelf. When operational, the carbon capture plant is expected to capture 350,000 metric tons of CO2 annually. The EPCIC award follows a cost reduction phase for Hafslund Celsio's project, which identified opportunities for efficiencies, including layout optimization. The project will now be delivered based on SLB Capturi's modularized Just Catch™ 400 unit. The space-efficient Just Catch design has been fundamental to enabling a viable, cost-effective solution by reducing onsite footprint, installation, and outfitting work. 'Standardization and modularization play a key role in shifting the economics of carbon capture projects,' said Egil Fagerland, chief executive officer, SLB Capturi. 'We are extremely proud of our collaboration with Hafslund Celsio and Aker Solutions to align our Just Catch plant design with the techno-economic requirements of this project to help make it a reality. We look forward to delivering this flagship project as a successful blueprint for industrial decarbonization projects in Norway and across the globe.' Hafslund Celsio's project is the second carbon capture plant in Longship, where SLB Capturi is already delivering the carbon capture plant at Heidelberg Materials' cement facility in Brevik in collaboration with Aker Solutions. 'Today marks a significant milestone for Aker Solutions and the CCS industry in Norway. We are proud to be part of this key project and look forward to contributing with our effective project execution, based on three decades of experience in the CCS market. This project is a testament to important public and private collaboration to build an industrial value chain for carbon capture and storage. The project will also significantly contribute to reducing emissions and will create value for both industry and society,' said Kjetel Digre, CEO for Aker Solutions. 'We are pleased to have Aker Solutions and SLB Capturi collaborating with us on this significant industrial project,' stated Martin S. Lundby, chief executive officer at Hafslund Celsio. 'Working with reputable partners who possess extensive experience in carbon capture and storage from the Longship project provides us with security and strength. Our partners bring valuable expertise from large industrial developments both in Norway and internationally. Together, we will construct a carbon capture solution that is expected to be operational by third quarter 2029.' About SLB SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at About SLB Capturi SLB Capturi is a joint venture between SLB and Aker Carbon Capture, dedicated to carbon removal and reduction solutions. The company's proven modular technologies enable industries to deploy capture technology at speed and scale, meeting the requirements of tomorrow and the opportunities of today. The company is currently delivering seven carbon capture plants to bioenergy, waste to energy, and cement facilities. Find out more at About Aker Solutions Aker Solutions delivers integrated solutions, products and services to the global energy industry. The company enables low-carbon oil and gas production and develops renewable solutions to meet future energy needs. By combining innovative digital solutions and predictable project execution Aker Solutions aims to accelerate the transition to sustainable energy production. Find out more at About Hafslund Celsio Hafslund Celsio AS is the largest producer and supplier of district heating in Norway and supplied 25 % of the district heating generated in Norway in 2023. In 2024, the company produced 1.9 TWh of district heating. Hafslund Celsio's waste-to-energy plant at Klemetsrud, Oslo, is Norway's largest with a capacity to end-treat 350,000 tonnes of waste per year. The company is also expanding its activities to district cooling. The company employs approximately 232 people. Hafslund Celsio is owned by a Norwegian investor consortium comprising Hafslund (60%), Infranode (20%) and HitecVision (20%). Media Josh Byerly – SVP of Communications Moira Duff – Director of External Communications SLB Tel: +1 (713) 375-3407 Email: [email protected] Investors James R. McDonald – SVP of Investor Relations & Industry Affairs Joy V. Domingo – Director of Investor Relations SLB Tel: +1 (713) 375-3535 Email: [email protected] Cautionary Statement Regarding Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as 'expect,' 'may,' 'can,' 'estimate,' 'intend,' 'anticipate,' 'will,' 'potential,' 'projected' and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB's new technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB's strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in SLB's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, and SLB disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise. View original content here.
