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Aker Solutions ASA: Third-quarter results 2026
October 28, 2026 - Aker Solutions continued to deliver solid financial results in the third quarter of 2026. Several milestones have been met across the project portfolio in the period. The company now expects 2026 revenue to be between NOK 53 and 55 billion with an EBITDA margin between 7.5 and 8.0 percent excluding net profit from SLB OneSubsea.
3Q 2026 Financial Highlights
(excluding special items)
- Revenue NOK 13.5 billion
- EBITDA NOK 1.3 billion
- EBITDA margin 9.6 percent
- Earnings per share NOK 1.45
- Order intake NOK 5.4 billion (0.4x book-to-bill)
- Order backlog NOK 69.3 billion
- Net cash position NOK 5.8 billion, including investments in liquid funds
"During the quarter, we have met several important milestones in our project portfolio. Combined with solid financial performance, this reflects the expertise and dedication of our people", said Paal Eikeseth, Chief Executive Officer of Aker Solutions.
"At the same time, we are transforming how we execute projects. By standardizing solutions, moving from documents to data and applying decades of project knowledge to AI-supported digital tools, we are building a more agile, efficient and competitive Aker Solutions", said Eikeseth.
Key Developments
Revenue in the third quarter was NOK 13.5 billion, in line with expectations following peak activity in 2025. Underlying EBITDA was NOK 1.3 billion and EBITDA margin for the quarter was 9.6 percent, or 7.7 percent excluding net profit from SLB OneSubsea. Order intake for the quarter was NOK 5.4 billion, and the secured backlog at the end of the quarter stood at NOK 69.3 billion.
The net cash position increased to NOK 5.8 billion in the quarter, including investments in liquid funds. Working capital improved by NOK 677 million, while CAPEX was NOK 67 million. Aker Solutions received NOK 137 million in quarterly dividends from SLB OneSubsea during the period.
Operationally, Aker Solutions met several important milestones in its project portfolio, including the sail-away of Aker BP's Valhall PWP and Hugin B topside platforms. In addition, the Life Cycle segment delivered strong operational performance across their portfolio of frame agreements and modification projects.
SLB OneSubsea, where Aker Solutions owns 20 percent, also delivered improved financial results. Revenue was USD 1.1 billion, an increase of 12 percent compared to the same period last year. The underlying EBITDA margin in the quarter was 18.5 percent. SLB OneSubsea is on track to deliver on its order intake ambitions, positioning the company for growth from 2027 onwards. Based on its robust financial position, SLB OneSubsea is expected to distribute dividends of around USD 400 million to its shareholders in 2026, in line with full-year distribution in 2025.
Outlook and Guidance
Aker Solutions expects full-year 2026 revenue to be between NOK 53 and 55 billion, with an EBITDA margin between 7.5 and 8.0 percent excluding net profit from SLB OneSubsea.
For 2027, Aker Solutions expects revenue to decline to between NOK 35 and 40 billion, with an EBITDA margin between 7.0 and 8.0 percent excluding net profit from SLB OneSubsea.
Aker Solutions is taking action to reshape the business, reduce the cost base and align capacity with the lower activity expected in 2027, while improving competitiveness.
ENDS