Aker Solutions Asa · OSL:AKSO
Aker Solutions Asa — Aker Solutions Hldg — Q2 2025 Earnings Presentation
29 slides from Aker Solutions Asa's earnings presentation, Jul 11, 2025
Slide 1: 2Q 2025 Results
2Q 2025 July 11, 2025 Kjetel Digre, CEO Idar Eikrem, CFO
Slide 2: 2Q 2025 | Solid Financial Performance
2Q 2025 | Solid Financial Performance Revenue Excluding special items EBITDA Excluding special items 16 13.2 15.7 14.4 15.2 1.4 12% Financials 14 12.8 1.2 10% 12 10 1.0 9% 9% 8% 8% 8% ▪ Solid financial performance in period of high activity 0.8 8% 8 6% 6 0.6 4% ▪ Ongoing commercial discussions on le
Slide 3: Solid Progress on the Aker BP Portfolio
2Q 2025 | Solid Progress on the Aker BP Portfolio ▪ Alliance model with balanced risk-reward profile and aligned incentives ▪ 4 topsides and jacket substructures with a combined dry weight of about 90,000 tons ▪ High activity across own and partner locations, all key milestones met in quarter ▪ Inno
Slide 4: Enabling a full-scale CCS value chain in Norway
2Q 2025 | Enabling a full-scale CCS value chain in Norway ▪ Leveraging 3 decades of experience in the carbon capture and storage markets together with industry-leading partners ▪ Official opening of the world’s first CO2 capture facility at Brevik, Norway Subsea CO2 injection system ▪ First 15,000 t
Slide 5: Leveraging new technology to solve energy challenges
2Q 2025 | Leveraging new technology to solve energy challenges Autonomous Drone Inspection • Resident drone at offshore site • Piloted from onshore control center • Autonomous navigation and operations • Advanced sensors and cameras collecting high resolution data <70% reduction in inspection costs
Slide 6: Continued high tendering activity
2Q 2025 | Continued high tendering activity Tender Value Development NOK BILLION 90 60 Europe 30 74 NOK BILLION 0 Americas 2Q’23 3Q’23 4Q’23 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 2Q’25 1 NOK BILLION APAC Africa/ ME 4 1 NOK BILLION NOK BILLION Second-Quarter Results 2025 July 11, 2025 6
Slide 7: Outlook
Outlook ▪ Solid secured order backlog for execution ▪ Continued focus on predictable project execution ▪ High tendering and early-phase study activity ▪ Continued high activity in studies and FEED work ▪ Leveraging new technology solutions to solve energy challenges ▪ Solid financial position with a
Slide 8: Financial Performance
Financial Performance July 11, 2025 Idar Eikrem, CFO
Slide 9: Key Figures
2Q 2025 | Key Figures NOK million 2Q 2025 2Q 2024 1H 2025 1H 2024 2024 Total revenue Total revenue ex. special items 15,155 15,157 12,826 12,827 29,544 29,550 24,307 24,303 53,201 53,193 Financials and Highlights Net income from OneSubsea 185 185 375 379 789 Total revenue excl. special items and Net
Slide 10: Cash Generation
2Q 2025 | Cash Generation Change in Cash and Cash Equivalents NOK MILLION Financials and Highlights ▪ Cash flow from operations of NOK 0.4 billion 520 ▪ Driven by solid operational performance 1,259 339 ▪ NOK 520 million working capital reversal in period 135 145 3,434 1,591 ▪ CAPEX investments of N
Slide 11: Renewables and Field Development
2Q 2025 | Renewables and Field Development Revenue Excluding special items EBITDA Excluding special items 12 900 10% Financials and Highlights 800 10 9% 700 8% 8% 8% ▪ Revenue of NOK 10.8 billion in quarter 8 600 8% 7% 6% 6 500 ▪ 14% increase compared to same period last year 400 4% 4 300 200 2% 2 1
Slide 12: Life Cycle
2Q 2025 | Life Cycle Revenue Excluding special items EBITDA Excluding special items 4.0 300 10% Financials and Highlights 3.5 250 8% 3.0 ▪ Revenue of NOK 3.9 billion in quarter 200 7% 2.5 7% 7% 7% 6% ▪ 30% increase from same period last year 7% 2.0 150 1.5 4% 100 1.0 50 2% ▪ EBITDA of NOK 275 millio
Slide 13: Summary Outlook
Summary Outlook ▪ Increased revenues in the quarter compared to ▪ Revenues in 2025 expected to exceed NOK 55 last year billion ▪ Solid backlog of NOK 68 billion, key focus on ▪ 2025 EBITDA margin expected to be between 7.0% delivering predictable project execution and 7.5% excluding net income from
Slide 14: We solve global energy challenges for future generations
Lk — | We solve global energy challenges gy for future generations &@ 4 ea EE ea
Slide 15: Additional Information
Additional Information July 11, 2025
Slide 16: Order Intake and Backlog
2Q 2025 | Order Intake and Backlog Order Backlog by Execution Year NOK BILLION Order Backlog by Type NOK BILLION 30 27.1 25.3 25 6.6 8.8 20 15.6 15 4.9 10 18.4 17.8 5 10.3 0 2025 2026 2027 -> 1 2 3 4 Renewables and Field Development Life Cycle Other Alliance Reimbursable Lump sum Renewables and Tran
Slide 17: Timing of Selected Large Projects in the Portfolio, by Segment
Timing of Selected Large Projects in the Portfolio, by Segment Renewables and Field Development Life Cycle Project Customer Award year Delivery year (est.) Project Customer Award year Delivery year (est.) Johan Castberg FPSO Equinor 2017 2025 Aker BP EMM /Modific. Alliance (FA) Aker BP 2024 2026 Hug
Slide 18: Renewables and Transitional Energy Solutions
Renewables and Transitional Energy Solutions NOK million Revenue 2Q 2023 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 Total revenue (excl. special items) 8,826 9,114 11,021 36,107 11,477 12,827 13,181 15,708 53,193 14,393 15,157 Renewables and Transitional Energy S
Slide 19: Special Items
Special Items NOK million Special items (EBITDA) 2Q 2023 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 Restructuring 0 3 19 24 0 3 1 5 9 1 2 Non-qualifying hedges 10 3 -0 17 -2 0 -3 1 -3 5 2 Other special items 16 15 46 87 22 7 6 24 58 4 -3 Total special items EBITD
Slide 20: Income Statement
Income Statement NOK million Income statement consolidated 2Q 2023 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 Revenue 8,880 9,094 10,870 36,057 11,273 12,661 12,940 15,537 52,410 14,197 14,967 Net profit equity accounted investees 1 8 197 205 207 166 245 173 790
Slide 21: Cash Flow
Cash Flow NOK million Cash flow 2Q 2023 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 EBITDA continuing operations 193 194 551 1,166 967 1,206 1,204 1,191 4,568 1,203 1,257 EBITDA discontinued operations 906 1,225 0 2,772 - - - - - - - Change in cash flow from opera
Slide 22: Balance Sheet – Assets
Balance Sheet – Assets NOK million Assets 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Property, plant and equipment 4,246 2,883 3,487 3,830 3,956 4,043 4,053 3,925 3,842 Intangible assets including Goodwill 5,933 3,413 3,563 3,536 3,510 3,514 3,487 3,459 3,430 Right-of-us
Slide 23: Balance Sheet – Liabilities and Equity
Balance Sheet – Liabilities and Equity NOK million Liabilities and equity 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 Total equity attributable to the parent 10,506 11,187 19,082 20,176 19,379 20,070 11,270 11,286 9,678 Non-controlling interests -3 -56 -129 -134 -134 -141
Slide 24: Split per Segment
Split per Segment NOK million Revenue 2Q 2023 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 Renewables and Field Development 5,369 5,576 7,447 22,520 8,003 9,402 9,217 11,469 38,090 10,401 10,757 Life Cycle 3,343 3,249 3,547 13,072 3,031 2,988 3,453 3,776 13,249 3,5
Slide 25: Split per Segment
Split per Segment NOK million NCOA 2Q 2023 3Q 2023 4Q 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 NCOA -5,753 -6,631 -8,484 -8,774 -8,898 -7,655 -7,848 -7,576 -7,057 Order intake 2Q 2023 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 Renewables and Field Dev
Slide 26: Split per Segment – Excluding Special Items
Split per Segment – Excluding Special Items NOK million EBITDA (excl. special items) 2Q 2023 3Q 2023 4Q 2023 FY 2023 1Q 2024 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 Renewables and Field Development 208 239 362 979 617 887 774 820 3,097 870 829 Life Cycle 164 163 197 686 195 205 244 277 920 2
Slide 27: Order Backlog by Market
Order Backlog by Market NOK billion, % Order backlog by Market 2Q 2025 2Q 2024 Norway 69% 84% Europe 25% 9% Americas 2% 4% Asia Pacific 3% 2% Africa 1% 2% Total 100% 100% Total backlog (NOK billion) 68.0 71.4 Second-Quarter Results 2025 July 11, 2025 27
Slide 28: Aker Solutions
| Aker Solutions
Slide 29: Copyright and Disclaimer
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