Aker Solutions’ revenue rose 14 percent to NOK 8.5 billion in the first quarter of 2015 from a year earlier, boosted by progress on major projects from Angola to Brazil and Norway.
Earnings before interest and taxes (EBIT) fell 22 percent to NOK 409 million in the quarter from a year earlier. The EBIT margin in the same period narrowed to 4.8 percent from 7 percent, Aker said in a statement on Wednesday.
Aker Solutions secured NOK 9 billion in orders in the quarter. The order backlog stood at NOK 48.3 billion at the end of the quarter from NOK 39.6 billion a year earlier.
“The markets continued to be challenging as many of our major clients remain vigilant in how they allocate their capital,” said Luis Araujo, Aker Solutions’ chief executive officer. “Still, our healthy order backlog puts us in a strong position as we face this uncertain outlook. We made good progress in the quarter on major projects and also benefited from improvement programs across the business.”
1 NOK = 0.131101 USD
Image: Aker Solutions