Aker Solutions’ operating revenues in the fourth quarter of 2010 were NOK 15 billion (US$2.65 billion). The preliminary results for full year 2010 show revenues of NOK 50.8 billion ($8.97 billion).
“The 2010 accounts show that Aker Solutions has emerged from the 2008-09 financial turmoil and on a strong note. Although revenues declined in 2010, earnings remained at the same levels as in the previous year,” said Øyvind Eriksen, executive chairman of Aker Solutions ASA.
The market fundamentals for Aker Solutions are good, according to a company statement. Aker Solutions is experiencing high tender activity. Order intake in the fourth quarter of 2010 was NOK 14.5 billion ($2.56 billion), and the order backlog at the end of 2010 was NOK 55.4 billion ($9.79 billion) (NOK 50.8 billion ($8.97 billion) for the continuing Aker Solutions operations).
“Although operations have improved in many parts of the business, a more detailed analysis reveals opportunities for further improvement and increased profits,” Eriksen underlines.
He points to the fact that NOK 478 million ($84.48 million) losses and provisions related to the Drilling riser business and the Longview project respectively were booked in the fourth quarter of 2010. These negative results were offset by strong project execution in other parts of the company.
