Aker Solutions Asa · OSL:AKSO
Aker Solutions Asa — Aker Solutions Hldg — Q2 2026 Earnings Presentation
30 slides from Aker Solutions Asa's earnings presentation, Jul 14, 2026
Slide 1: 2Q 2026 Presentation
2Q 2026 July 14, 2026 Kjetel Digre, CEO Idar Eikrem, CFO
Slide 2: 2Q 2026 | Solid Financial Performance
2Q 2026 | Solid Financial Performance Revenue Excluding special items EBITDA Excluding special items Financials 20 1.6 12% 17.0 16.7 15.2 1.4 10% ▪ Solid financial performance following peak activity levels in 2025 15 13.4 13.1 1.2 9% 8% 10 1.0 0.8 8% 9% 8% 9% 6% ▪ Distributed NOK 4.2 billion to sha
Slide 3: Solid Progress on the Aker BP Portfolio
2Q 2026 | Solid Progress on the Aker BP Portfolio Yggdrasil (Hugin A, Hugin B) Valhall PWP-Fenris Skarv Satellites Status and achievements Status and achievements Status and achievements • Final assembly and commissioning of • Final assembly and commissioning of • Topside modification of host Hugin
Slide 4: Secured Long-Term Frame Agreements in Life Cycle
2Q 2026 | Secured Long-Term Frame Agreements in Life Cycle Selected Life Cycle Frame Agreements Selected Frame First 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035-> Agreements awarded <20001 <2000 <2039 2016 <2038 <2000 2012 2005 Awarded 2Q 2026 2015 2019 1Including period where contract wa
Slide 5: Continuing Our CCS Journey
2Q 2026 | Continuing Our CCS Journey CCS Market Outlook Aker Solutions Engagement in the CCS Market 4x 1st Generation 2nd Generation Next Generation (delivered) (in execution) (early-phase) Heidelberg Brevik Hafslund Celsio Waste-to-Energy Trudvang CCS Carbon Capture Carbon Capture & Storage (Memora
Slide 6: Developing More Efficient Solutions in Hydropower
2Q 2026 | Developing More Efficient Solutions in Hydropower Norway: Electricity Supply1 Contract Award: Tussa II Hydropower Plant Other • New hydropower plant with increased capacity and ~10% enhanced efficiency • Aker Solutions to supply all electromechanical equipment • Early-phase involvement and
Slide 7: Maturing SMR Market Opportunity
2Q 2026 | Maturing SMR Market Opportunity Rolls-Royce SMR selected for multiple SMR projects supported by government-backed initiatives SMR Industrial Partners Project Opportunities United Kingdom • Rolls-Royce SMR preferred technology provider for UK SMR program • Wylfa identified as a potential de
Slide 8: Continued high tendering activity
2Q 2026 | Continued high tendering activity Tender Value Development NOK BILLION 90 60 Europe 30 30 NOK BILLION 0 Americas 2Q 24 3Q 24 4Q 24 1Q 25 2Q 25 3Q 25 4Q 25 1Q 26 2Q 26 3 NOK BILLION APAC Africa/ ME 43 <1 NOK BILLION NOK BILLION Second-Quarter Presentation 8
Slide 9: Financial Performance
Financial Performance July 14, 2026 Idar Eikrem, CFO
Slide 10: Key Figures
2Q 2026 | Key Figures NOK million 2Q 2026 2Q 2025 1H 2026 1H 2025 2025 Revenue and other income Revenue ex. special items 13,074 13,074 15,155 15,157 26,498 26,498 29,544 29,550 63,202 63,207 Financials and Highlights Net profit from SLB OneSubsea 174 185 317 375 749 Revenue ex. special items and Ne
Slide 11: Renewables and Field Development
2Q 2026 | Renewables and Field Development Revenue Excluding special items EBITDA Excluding special items 14 1,200 10% Financials and Highlights 12 1,000 9% 8% 10 800 8% 8% 8% 8% ▪ Revenue of NOK 9.0 billion in quarter 8 6% 6 600 ▪ Revenue development in line with expectations 4% 400 4 2 200 2% ▪ EB
Slide 12: Life Cycle
2Q 2026 | Life Cycle Revenue Excluding special items EBITDA Excluding special items 4.0 300 10% Financials and Highlights 3.5 250 8% 3.0 200 8% ▪ Revenue of NOK 3.6 billion in quarter 2.5 7% 7% 7% 7% 6% 2.0 150 ▪ Drop from same period last year mainly driven by lower offshore hook- 1.5 100 4% up and
Slide 13: Cash Generation
2Q 2026 | Cash Generation Change in Cash and Cash Equivalents NOK MILLION Financials and Highlights 8,726 ▪ Cash flow from operations of negative NOK 195 million ▪ Driven by NOK 1.2 billion working capital reversal in period 2,002 1,199 1,198 197 73 138 ▪ CAPEX investments of NOK 73 million ▪ Mainly
Slide 14: Summary Outlook
Summary Outlook ▪ Solid financial performance following peak activity ▪ Revenue in 2026 is now expected to be between levels in 2025 NOK 50 and 55 billion ▪ Legacy lump sum projects in commissioning phase, ▪ 2026 EBITDA margin is now expected to be around commercial discussions ongoing 7.5% excludin
Slide 15: We solve global energy challenges for future generations
Lk Aker Silane We solve global energy challenges gy for future generations &@ 4 ea EE ea
Slide 16: Additional Information
Additional Information July 14, 2026
Slide 17: Order Intake and Backlog
2Q 2026 | Order Intake and Backlog Order Backlog by Execution Year NOK BILLION Order Backlog by Type % 35 30.3 30 24.6 25 22.3 20 7.2 10.4 24.8 15 10 16.9 5 11.1 4.6 0 2026 2027 2028 -> Renewables and Field Development Life Cycle Other Alliance 1 Reimbursable 2 Lump Sum 3 Renewables and Transitional
Slide 18: 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 Delivery year/ Delivery year/ Project Customer Award year Project Customer Award year completion (est.) completion (est.) Hugin A Platform Aker BP 2022 2026 Aker BP EMM /Modific. Alliance (FA)
Slide 19: Renewables and Transitional Energy Solutions
Renewables and Transitional Energy Solutions NOK million Revenue 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 Total revenue (ex. special items) 12,827 13,181 15,708 53,193 14,393 15,157 16,983 16,674 63,207 13,425 13,074 Renewables and Transitional Energy S
Slide 20: Special Items
Special Items NOK million Special items 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 Restructuring 3 1 5 9 1 2 14 194 211 31 7 Non-qualifying hedges 0 -3 1 -3 5 2 3 -1 9 5 - Other special items 7 6 24 58 4 -3 1 35 37 3 2 Special items EBITDA 10 4 30 63 10 2
Slide 21: Income Statement
Income Statement NOK million Income statement consolidated 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 Revenue 12,642 12,940 15,543 52,411 14,199 14,969 16,689 16,595 62,452 13,281 12,900 Net profit from SLB OneSubsea 185 244 166 789 190 185 295 80 749 143
Slide 22: Cash Flow
Cash Flow NOK million Cash flow 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 EBITDA 1,206 1,204 1,191 4,568 1,203 1,257 1,472 1,095 5,027 1,112 1,190 Change in cash flow from operating activities 217 -1,723 -7 -1,461 -364 -856 -1,045 -148 -2,413 1,574 -1,38
Slide 23: Balance Sheet – Assets
Balance Sheet – Assets NOK million Assets 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Property, plant and equipment 3,956 4,043 4,053 3,925 3,842 3,720 3,626 3,431 3,261 Intangible assets including Goodwill 3,510 3,514 3,487 3,459 3,430 3,428 3,438 3,425 3,414 Right-of-us
Slide 24: Balance Sheet – Liabilities and Equity
Balance Sheet – Liabilities and Equity NOK million Liabilities and equity 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 Total equity attributable to the parent 19,379 20,070 11,270 11,286 9,678 10,540 11,388 12,232 8,769 Non-controlling interests -134 -141 -144 -143 -144 -1
Slide 25: Split per Segment
Split per Segment NOK million Revenue and other income 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 Renewables and Field Development 9,402 9,217 11,469 38,090 10,401 10,757 12,517 12,429 46,105 9,601 8,991 Life Cycle 2,988 3,453 3,776 13,249 3,518 3,898 3,7
Slide 26: Split per Segment
Split per Segment NOK million NCOA 2Q 2024 3Q 2024 4Q 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 NCOA -8,898 -7,655 -7,848 -7,576 -7,057 -6,509 -6,503 -8,299 -7,101 Order intake 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 Renewables and Field Dev
Slide 27: Split per Segment – Excluding Special Items
Split per Segment – Excluding Special Items NOK million EBITDA (ex. special items) 2Q 2024 3Q 2024 4Q 2024 FY 2024 1Q 2025 2Q 2025 3Q 2025 4Q 2025 FY 2025 1Q 2026 2Q 2026 Renewables and Field Development 887 774 820 3,097 870 829 1,008 1,005 3,712 721 846 Life Cycle 205 244 277 920 234 275 275 293 1
Slide 28: Order Backlog by Market
Order Backlog by Market NOK billion, % Order backlog by Market 2Q 2026 2Q 2025 Norway 76% 69% Europe 19% 25% Americas 3% 2% Asia Pacific 1% 3% Africa 1% 1% Total 100% 100% Total backlog (NOK billion) 77.2 68.0 Second-Quarter Presentation 28
Slide 29: Aker Solutions
| Aker Solutions
Slide 30: Copyright and Disclaimer
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