Aker Solutions Hldg Asa (AKRTF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Aake Solutions presentation of our second quarter and half year results. My name is Preben Ørbæk and I'm the Head of Investor Relations. Joining me today is our CEO Kjetil Digre and our CFO Ida Reikre. They will take you through the main developments of the quarter and the first half of 2025. After the presentation, we have time for questions. Those of you who are following the webcast can submit your questions via the online platform. And with that, I leave the floor to Kjetil Didle. Thank you, Preben. And welcome to everyone tuning in. As always, let me start the presentation with the main messages for today. First and foremost, I'm pleased to see that we continue to deliver solid financial results. The second quarter revenue was 15.2 billion kroner, which is a growth of about 20% compared with the same period last year. And the EBITDA margin for the quarter was 8.3%. And I'm especially impressed by our lifecycle segment delivering 30% growth with improved margins. This is a result not only driven by strong execution, but also continuous focus on improvements. In the renewables and field development segment, the legacy lump sum projects continue to be a drag on margins. The projects are scheduled for sale away in the second half of 2025, and commercial discussions with clients and subcontractors are ongoing. During the quarter, we continued to have high activity across our locations and markets. The Aker BP portfolio is progressing as planned, with several important milestones met in the quarter. I would also like to highlight our achievements in the CCS market, where we celebrated the official opening and the first successful capture of CO2 at Heidelberg's cement plant in Brevik this quarter. Lastly, we continue to have high activity wi...