Oslo – October 29, 2026 -- Aker Solutions guided 2027 revenue down to NOK 35-40 billion, well below its 2026 outlook of NOK 53-55 billion, and said it is cutting its cost base to match the lower activity.
Third-quarter revenue reaches NOK 13.5 billion at a 9.6 percent EBITDA margin
Revenue for the third quarter of 2026 was NOK 13.5 billion, which the company said was in line with expectations after peak activity in 2025. Underlying EBITDA was NOK 1.3 billion. The EBITDA margin was 9.6 percent, or 7.7 percent excluding net profit from SLB OneSubsea. Earnings per share were NOK 1.45.
Order intake of NOK 5.4 billion implies a 0.4x book-to-bill
Order intake of NOK 5.4 billion fell well short of quarterly revenue. Order backlog ended the quarter at NOK 69.3 billion.
Net cash rises to NOK 5.8 billion on working capital gains and SLB OneSubsea dividends
The net cash position, including investments in liquid funds, increased to NOK 5.8 billion. Working capital improved by NOK 677 million, and CAPEX was NOK 67 million. Aker Solutions received NOK 137 million in quarterly dividends from SLB OneSubsea.
Aker BP topsides sail away as Life Cycle segment delivers on frame agreements
Aker Solutions completed the sail-away of Aker BP's Valhall PWP and Hugin B topside platforms. The Life Cycle segment also delivered strong operational performance across its frame agreements and modification projects.
SLB OneSubsea posts USD 1.1 billion revenue, up 12 percent
Aker Solutions owns 20 percent of SLB OneSubsea. The joint venture's quarterly revenue was USD 1.1 billion, up 12 percent from the same period last year, with an underlying EBITDA margin of 18.5 percent. The company is on track to deliver on its order intake ambitions and is positioned for growth from 2027 onwards. SLB OneSubsea is expected to distribute around USD 400 million in dividends to its shareholders in 2026, in line with the 2025 full-year distribution.
Guidance: 2026 margin of 7.5-8.0 percent, then 7.0-8.0 percent in 2027
For 2026, Aker Solutions expects an EBITDA margin of 7.5 to 8.0 percent excluding net profit from SLB OneSubsea. For 2027, it guides to a margin of 7.0 to 8.0 percent on the same basis. The company is reshaping the business, reducing the cost base and aligning capacity with the lower activity expected in 2027.
CEO Paal Eikeseth said the company is standardizing solutions and moving "from documents to data", applying AI-supported digital tools to project execution.