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Aker Solutions increases revenue but lowers bottom line

Platform electrification and other carbon reduction measures in the oil sector contribute to increasing revenue and the operating result, with the bottom line in the red.

Photo: INTS KALNINS/REUTERS / X02120

Norwegian oil service company Aker Solutions, which is involved in a range of electrification projects in the oil sector, raised its revenue in 2019 and in the year's final quarter, but its bottom line didn't keep up, states the firm's annual report, published Friday morning CET.

Aker Solutions saw fourth quarter revenue of NOK 7.3 billion (EUR 719.86 million) and finished with an operating result (EBITDA) of NOK 434 million. By the quarter's end, the company had an order book totaling NOK 25.4 billion.

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