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Aker Solutions

Aker Solutions is a global oil service company that delivers services, technologies, products and solutions within Subsea and Field Design.

AKER’S ENGAGEMENTAker owns 70 per cent of the shares in Aker Kværner Holding AS, which in turn owns 40.6 per cent of the shares in Aker Solu- tions, giving Aker an equity interest equivalent to 28.4 per cent in Aker Solutions. Aker also owns 6.4 per cent of the shares in Aker Solutions directly, bringing its total stake to 34.8 per cent. Øyvind Eriksen and Kjell Inge Røkke represent Aker on Aker Solutions’ board of directors.

In 2017, Aker Solutions’ share price rose from NOK 41.37 to NOK 46.19 as of 31 December 2017. Aker’s shareholding was valued at NOK 4.4 billion at the end of 2017, equivalent to 9 per cent of Aker’s total assets.

AKER’S OWNERSHIP AGENDA
Aker Solutions is satisfactorily delivering its orders and pro- jects. It has also reduced its cost base signi cantly through operational improvement programs. Capital discipline has high priority, and the company’s balance sheet is robust.

In its ownership capacity, Aker is focused on ensuring that Aker Solutions wins new contracts and delivers on them with satisfactory margins. In 2017, the company won important contracts linked to the Johan Sverdrup, Njord A, Johan Castberg and Ærfugl  elds on the Norwegian continental shelf, as well as an unprecedentedly large international umbilical contract. Aker Solutions also secured a framework agreement with Statoil for the provision of subsea services on the Norwegian shelf, and a major rig-modi cation contract with Maersk Drilling. Further, Aker Solutions acquired the Norwegian company Reinertsen in 2017. Aker Solutions’ backlog of NOK 34.6 billion at the beginning of 2018, is higher compared to the expected revenue.

Work is continuing on operational improvements, optimisation of the capital base and development of  rst-class customer re- lationships. Aker Solutions has ambitions to transform its busi- ness by utilizing new technology and has, among other things, entered into a partnership with Cognite. As owner, Aker is committed to strengthen Aker Solutions' operations in a global market characterized by consolidations.

For more information, please visit www.akersolutions.com .

Aker Solutions

Listed:
Oslo Børs

Geographic marked:
International

Sector:
Oil and gas

Category:
Oil and gas service

Share of Aker's total assets (4Q17)
9%

CEO:
Luis Araujo

Chairman:
Øyvind Eriksen

Website:
www.akersolutions.com