Huge write-downs for Aker Solutions

The Norwegian service giant, which is on the verge of splitting up its business, is hit with massive impairment charges in Q2, but a new major order with Total in Angolan helps somewhat.

Photo: Aker Solutions

The Norway-based service giant Aker Solutions has presented a pre-tax deficit of more than USD 160 million in the second quarter.

Revenue has gone up to USD 2.1 billion, an year-on-year increase of USD 320 million, but operating profit (EBITDA) has dropped from USD 127 million to USD 69 million, mainly due to non-recurring items- ignoring these items, the operating profit lands at USD 151 million.

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