Norway's Aker Solutions Q3 net profit falls 51%; revenues up 30%

02 November 2012 07:39  [Source: ICIS news]

SINGAPORE (ICIS)--Norwegian oil-platform maker Aker Solutions said on Friday its third-quarter net profit fell by 51% year on year to Norwegian kroner (NKr) 552m ($97m) despite a 30% increase in operating revenues and other income.

The company's operating revenues and other income totalled NKr11.2bn in July-September 2012, while earnings before interest tax, depreciation and amortisation (EBITDA) surged to NKr1.12bn from NKr322m in the same period last year, it said in a statement.

"The increase in operating revenues and EBITDA reflect strong markets and high activity in the businesses," it said.

Aker Solutions' order intake in the third quarter of this year more than doubled to NKr16.9bn from NKr8bn in the same period of 2011.

At the end of the third quarter, the company's order backlog was NKr59.7bn, a 33% year-on-year increase from the same period a year earlier.

($1 = Nkr5.68)

By: Nurluqman Suratman

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