|"A strong global oil and gas market"|
| [14.08.2012, 10:05am, Tue. GMT]|
|The Norwegian oil services company Aker Solutions reports second-quarter earnings above expectations and said its outlook remains bullish. "We are pleased to see revenue and margin growth in almost all business segments. This is a reflection of continued improved operational performance in a strong global oil and gas market," says Øyvind Eriksen, executive chairman in Aker Solutions, in a statement. Aker Solutions' operating revenues were NOK 11.9 billion (USD 2 billion) in the second quarter and NOK 21.7 billion (USD 3,66 billion) for the first six months of 2012. The latter is 33 per cent higher that the same period in 2011.|
Earnings before interest, tax, depreciation and amortisation (EBITDA), excluding non-recurring items, amounted to NOK 1192 million (USD 201 million) with an adjusted margin of 10.0 per cent.
Including non-recurring items, which includes a NOK 165 million (USD 27,9 million) gain related to sale of real estate, EBITDA for the quarter was at NOK 1357 million (USD 229 million).
Order intake in the quarter was NOK 23.0 billion (USD 3,88 billion), bringing the order backlog to NOK 54.1 billion (USD 8,67 billion), an increase of 31 per cent from the beginning of the year.