Aker Solutions Stock Earnings Reports

Aker Solutions delivered solid Q2 2026 results with revenue of NOK 13.1 billion and an underlying EBITDA margin of 9.2% (7.9% excl. net profit from SLB OneSubsea). Management paid NOK 4.2 billion in dividends in April and reports a net cash position of NOK 4.3 billion. Operationally, key milestones were reached on the Aker BP portfolio (topsides/substructures at Stord and Verdal) and Skarv Satellites is on track for first gas in H2 2026. Lifecycle won a five-year frame agreement with Cenovus in Canada, completing renewal of multiple lifecycle frame agreements; management targets a c.50% improvement in lifecycle costs and delivery times through co-creation, digitization/AI and standardization. The tender pipeline stands at roughly NOK 77 billion, dominated by oil & gas but with growing opportunities in CCS, hydropower and SMR (partnership with Rolls‑Royce SMR; major construction expected from 2029). Backlogs: Renewables & Field Development secured backlog NOK 32.6 billion (2026 revenue guide NOK 35–40 billion); Lifecycle backlog NOK 42.4 billion (including options ~NOK 80 billion total implied; 2026 revenue guide ~NOK 15 billion). Group 2026 guidance revised upward: revenue NOK 50–55 billion and EBITDA margin around 7.5% (excl. SLB OneSubsea). SLB OneSubsea remains an important value contributor; dividends from that holding are expected to rise in H2 2026 supporting full-year distributions broadly in line with 2025. Working capital is expected to normalise to between NOK -4 and -6 billion; CapEx guidance 0.5–1% of revenue.