Aker Solutions Secures Future with Record Orders, Eyes New Energy

OSLO, Norway – April 30, 2026 – Aker Solutions has demonstrated robust financial health and a clear strategic vision for the future, announcing solid first-quarter results headlined by a record-breaking order intake of NOK 28.8 billion. The performance secures years of activity and reinforces the company's market position, even as revenues begin to normalize from the peak levels seen in 2025. Coupled with a significant dividend payout to shareholders, the Norwegian energy services giant is also making decisive moves to enter new energy markets, most notably through a new partnership in the small modular reactor (SMR) sector.

Financial Resilience and Shareholder Rewards

Aker Solutions reported first-quarter revenue of NOK 13.4 billion, a figure that, while down from NOK 14.4 billion in the same period last year, aligns with the company's guidance for a normalization of activity. More telling is the underlying financial strength, with an EBITDA of NOK 1.2 billion and a healthy EBITDA margin of 8.6 percent. Excluding income from its SLB OneSubsea joint venture, the margin stood at a solid 7.6 percent.

Demonstrating confidence in its financial position and commitment to shareholder returns, the company's Annual General Meeting approved a total dividend distribution of NOK 8.60 per share. This payout consists of a NOK 3.60 ordinary dividend and a NOK 5.00 extraordinary dividend, the latter fueled by the successful NOK 2.5 billion sale of shares in SLB received during a prior subsea transaction. The company's balance sheet remains strong, boasting a net cash position of NOK 8.7 billion at the end of the quarter.

"In the first quarter, we delivered solid financials and a strong order intake, while our major projects continue to progress according to plan," said Kjetel Digre, Chief Executive Officer of Aker Solutions, in a statement. "This performance reflects the skills, commitment and dedication of our people."

Record Backlog Built on Long-Term Agreements

The standout figure from the Q1 report is the monumental NOK 28.8 billion in new orders, resulting in a book-to-bill ratio of 2.2. This influx has swelled the company's secured order backlog to an impressive NOK 80.2 billion, providing significant revenue visibility for several years.

The bulk of this record intake stems from major, long-term frame agreements for maintenance, modification, and operations (MMO) services with key clients on the Norwegian Continental Shelf, Equinor and Aker BP.

For Equinor, Aker Solutions secured multiple five-year contracts covering a wide range of critical offshore assets, including Johan Sverdrup, Troll, and Åsgard, as well as onshore facilities. Similarly, a five-year agreement with Aker BP encompasses all of its key assets, including the major new Yggdrasil development area, which is poised to set new standards in remote operations. These agreements are not simple renewals; they represent an expanded scope and trust in Aker Solutions' capabilities, securing activity for its engineering hubs and fabrication yards across Norway.

This domestic strength is complemented by a growing international tender pipeline, which expanded by 10 percent during the quarter to nearly NOK 90 billion, with significant opportunities for FPSO projects and service agreements emerging in the Asia Pacific and Australian markets.

A Strategic Pivot to Future Energy Frontiers

While solidifying its core oil and gas services business, Aker Solutions is actively positioning itself for the global energy transition. CEO Kjetel Digre highlighted this strategic direction, stating, "Beyond securing long-term frame agreements with key clients, I am encouraged by the steps we are taking to position our company in emerging markets such as small modular reactors."

This comment was substantiated by the recent signing of a Memorandum of Understanding (MoU) with Rolls-Royce SMR Ltd. The partnership aims to combine Aker Solutions' extensive experience in modularization and complex project execution with Rolls-Royce's advanced nuclear technology. Aker Solutions will focus on developing non-nuclear modules for SMR power plants, initially targeting projects in the United Kingdom and the Czech Republic. This move allows the company to leverage decades of expertise from the offshore industry and apply it directly to a critical, low-carbon energy source, marking a significant step in its diversification strategy.

Outlook and Competitive Landscape

Aker Solutions reaffirmed its full-year 2026 revenue guidance of around NOK 50 billion, with an expected underlying EBITDA margin between 7.0 and 7.5 percent. This forecast is underpinned by its massive secured backlog and high tendering activity.

In a competitive global market, Aker Solutions' performance holds strong. While competitors like TechnipFMC and Subsea 7 reported higher revenue growth and margins in some segments for the quarter, Aker Solutions' record-breaking order intake and NOK 80.2 billion backlog provide it with one of the most robust and visible long-term revenue streams in the industry. The strategic pivot towards SMRs and other new energy ventures also differentiates it from peers more singularly focused on traditional or renewable offshore sectors.

The company's dual strategy is clear: execute with excellence on its vast and growing backlog in traditional energy while simultaneously investing its expertise and capital into the energy systems of the future. This approach is designed to ensure resilience and growth, navigating the normalization of the current market cycle while building a foundation for long-term relevance in a changing world.