Norway’s Aker Solutions may double revenues over five years

05 December 2012 07:53  [Source: ICIS news]

SINGAPORE (ICIS)--Norway’s Aker Solutions said on Wednesday it may be able to double its revenues over the next five years, adding that it is on track to achieve its business growth targets set for 2015.

In the first nine months of 2012, the company’s revenues were up 32.2% year on year, the company said.

In 2010, Aker Solutions had set a target of doubling its revenues by 2015.

"Based on our record-high order backlog of almost Norwegian kroner (NKr) 60bn ($10.7bn), and an estimated 10% annual growth rate in offshore spending over the next five years, Aker Solutions, with its current portfolio of business areas, has the potential to double its revenues again - from 2012 to 2017," said company executive chairman Oyvind Eriksen in a statement.

Aker Solutions now aims to increase its earnings before interest, tax, depreciation and amortisation (EBITDA) margin to about 15% by the end of 2017, it said.

($1 = NKr5.62)

By: Nurluqman Suratman

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