July 13, 2022 - Aker Solutions has delivered another strong quarter with growth
in revenues, margins and cash generation compared to the same period last year.
The main projects continued to progress, tendering activity was high, and the
market outlook remains positive. Aker Solutions updated its revenue guidance and
now expects revenue to increase by about 30 percent in 2023 over 2022 levels.

2Q 2023 Financial Highlights
(excluding special items)

  · Revenue NOK 14.2 billion
  · EBITDA NOK 1.2 billion
  · EBITDA margin 8.2 percent
  · Earnings per share NOK 1.14
  · Net cash position NOK 7.7 billion
  · Order intake NOK 12.3 billion (0.9x book-to-bill)
  · Order backlog NOK 97.7 billion

1H 2023 Financial Highlights
(excluding special items)

  · Revenue NOK 25.6 billion
  · EBITDA NOK 2.1 billion
  · EBITDA margin 8.1 percent
  · Earnings per share NOK 2.07
  · Order intake NOK 24.8 billion (1.0x book-to-bill)

"Our second-quarter results demonstrate that we continue to be on-track with our
financial targets, and I am pleased with our overall results for the quarter. As
we look ahead to the rest of 2023, we are on a path to full-year revenue growth
of about 30 percent, with increased earnings," said Kjetel Digre, chief
executive officer of Aker Solutions.

"The overall market outlook remains positive despite industry cost inflation and
supply chain constraints. Our newly reorganized company has sharpened its focus
on digitalization and strengthened our ability to deliver solutions to both
conventional and future energy markets," said Digre.

Key Developments

Revenue in the second quarter increased to NOK 14.2 billion from NOK 10.6
billion a year earlier. EBITDA excluding special items increased to NOK 1.2
billion compared with NOK 0.7 billion for the year-ago period. Order intake for
the quarter was NOK 12.3 billion and the secured backlog at the end of the
quarter stood at NOK 97.7 billion, providing high visibility on activity levels
for years to come.

Solid operational performance and improved working capital resulted in strong
cash generation. At the end of the quarter, the net cash position was?NOK 7.7
billion.

During the first half of 2023, Aker Solutions implemented its new organization,
and recruited about 1,250 new skilled employees globally. This means the company
is on-track with the target of hiring 2,000 new colleagues in 2023.

Digitalization is a key focus area for the company. With the launch of the Aker
Digital Alliance, Aker Solutions is well positioned to leverage the combined
competencies of the Aker family of companies and external strategic partners to
transform how the industry executes capital projects and operations.

The Subsea joint venture transaction announced August 2022 is progressing as
planned and is expected to close during the second half of 2023, pending
regulatory approvals.

Outlook

The outlook remains positive for Aker Solutions. Tender activity is high at
about NOK 100 billion and the company will continue to be selective in its
approach to tendering.

Moving forward, market activity is expected to increase across the energy
sector. Oil and gas supply from reliable sources will be constrained, driving
the need for additional investments. Global ambitions for renewables energy
production and emission reductions will lead to increased activity across the
industry for decades to come. This supports Aker Solutions' view of multiple
years of spending growth from the company's customers, across areas where Aker
Solutions is relevant.

Overall, Aker Solutions is well-positioned to capitalize on both near-term
cyclical recovery and the longer-term structural change in energy markets. Based
on ongoing projects and secured order backlog, the company now expects full-year
2023 revenues to increase by about 30 percent with improved underlying EBITDA
margins compared to 2022.

ENDS

Preben Ørbeck
investor relations
preben.orbeck@akersolutions.com
+47 470 10 611

Hallvard Norum
media contact
hallvard.norum@akersolutions.com
+47 913 80 820

Aker Solutions delivers integrated solutions, products and services to the
global energy industry. We enable low-carbon oil and gas production and develop
renewable solutions to meet future energy needs. By combining innovative digital
solutions and predictable project execution we accelerate the transition to
sustainable energy production. Aker Solutions employs approximately 16,000
people in more than 20 countries.

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This press release may include forward-looking information or statements and is
subject to our disclaimer, see https://akersolutions.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange release was published by William Stoichevski, Global Content
Editor, Aker Solutions, on Month 13, 2023 at 07:00 CEST.