Aker Solutions has concluded its OneSubsea joint venture deal, securing USD 700 million and a 20% stake, while reporting strong financial results and a positive outlook for the energy sector.
Information on the Target
Aker Solutions has reported a successful third quarter, showcasing increased revenues, margins, and cash generation compared to the same period last year. The company announced the final closure of the OneSubsea joint venture in early October, which positions it to receive USD 700 million, while maintaining a 20 percent ownership stake in this enhanced subsea entity.
For the third quarter of 2023, Aker Solutions achieved a revenue of NOK 14.3 billion, along with an EBITDA of NOK 1.5 billion and an EBITDA margin of 10.6 percent. Additionally, it has secured a robust order backlog of NOK 90 billion, demonstrating the positive momentum and strategic direction of the company in the energy sector.
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Industry Overview
The energy sector in Norway is currently exhibiting resilience despite facing challenges such as cost inflation, geopolitical uncertainties, and supply chain issues. Ak
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Aker Solutions
invested in
OneSubsea
in 2023
in a Joint Venture deal
Disclosed details
Transaction Size: $700M
Revenue: $34M