Aker Solutions ASA: Fourth-quarter and full-year 2025 results

Core Viewpoint - Aker Solutions reported strong financial results for the fourth quarter and full year of 2025, highlighting record-high activity levels and solid project execution, with a proposed dividend of NOK 3.60 per share for 2025 [1]. Financial Highlights - Full-year 2025 revenue reached NOK 63.2 billion, marking a year-on-year growth of 19 percent [1]. - EBITDA for the full year was NOK 5.3 billion, with an EBITDA margin of 8.4 percent [1]. - Fourth-quarter revenue increased to NOK 16.7 billion, a 6 percent rise from NOK 15.7 billion in the same period last year [1]. - Fourth-quarter EBITDA was NOK 1.3 billion, with a margin of 7.9 percent [1]. - Order intake for 2025 totaled NOK 66.4 billion, with a book-to-bill ratio of 1.1x [1]. - The order backlog at the end of 2025 stood at NOK 64.8 billion [1]. Cash Position and Dividends - The net cash position at year-end was NOK 3.7 billion, bolstered by strong cash generation and dividends from a 20 percent stake in SLB OneSubsea [1]. - Aker Solutions received a total dividend of NOK 841 million from SLB OneSubsea for the full year [1]. - The proposed dividend of NOK 3.60 per share represents approximately 60 percent of net income excluding special items [1]. Outlook and Strategic Positioning - Aker Solutions anticipates revenues between NOK 45 billion and NOK 50 billion for 2026, with expected EBITDA margins of 7.0 to 7.5 percent [1]. - The company is taking steps to adjust capacity and costs in line with anticipated activity levels [1]. - Aker Solutions has secured several long-term frame agreements for maintenance and modifications services, providing visibility on activity levels for the next 5-10 years [1]. - The company is expanding its customer network through engineering and consultancy studies, leveraging its engineering capabilities and innovative digital solutions [1]. Contribution from SLB OneSubsea - SLB OneSubsea, in which Aker Solutions holds a 20 percent stake, generated revenues of USD 3.8 billion with an EBITDA margin of 19.4 percent in 2025 [1]. - SLB OneSubsea aims to secure new orders exceeding USD 9 billion over the next two years, positioning for growth from 2027 onwards [1].