Norway’s Aker Solutions Q4 net profit falls 26% to $91m

15 February 2013 07:05  [Source: ICIS news]

SINGAPORE (ICIS)--Aker Solutions posted a 26% year-on-year decrease in its fourth quarter net profit to Norwegian kroner (NKr) 504m ($91m), despite an increase in the order intake for the quarter, the Norwegian oil-platform maker said on Friday.

The order intake for the fourth quarter of 2012 was NKr 9.1bn, compared to NKr 7.9bn in the same period of a year earlier, the company said.

The company’s order backlog increased by 37% year on year to NKr 56.7bn, the company said.

The company’s operating revenues for the fourth quarter grew by 3.74% year on year to NKr 12bn, while its earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 16.5% to reach NKr 1.2bn, it added.

For the full year of 2012, the company’s net profit fell to NKr 2.3bn, from NKr 5.3bn as compared to the same period the previous year, while operating revenues increased by 23.2% to NKr 44.9bn, the statement said.

($1 = NKr5.54)

By: Surinder Malhi
+65 6780 4327

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