After a year in which revenues started again for the first time since the breakdown of oil, there was little hope that Aker Solutions would have a " Start paying shares again.
But the small light of a sectional section was switched off quickly in the seasonal report of its company that was released on Friday.
Then its company has a & # 39; Write that the board praises a helloon.
The last time the Vikings (through state ownership), Kjell Inge Røkkes Aker and other owners received payment from the company in April 2015.
In fact, the formations on sections in the final quarterly report for 2018 are very similar to the corresponding report for 2017.
This year, as last year, its company has a & # 39; Write "strong finance", but the board "gets it right to do exercise".
In the last 12 months, an energy and company buffer has increased by 1.8 billion to 7.5 billion, net debt has dropped from 970 to 347 million, with fairness increasing from 7.05 to 7.61 billion.
The company has also removed their terminology that "market uncertainty is" and also writes that "one of the companies is going to & # 39 ; make full use of "the increase that is now waiting.
Looking for construction opportunities
From the analysis center that met the quarterly exhibition at Friday's premier office, both Haakon Amundsen at ABG Sundal Collier and Fredrik Lunde in Carnegie went to Carnegie. Understand why there was no share this year.
– You have a strong balance. Is there anything you wait for, do you? ask you on Monday.
Amundsen stated that his company had confirmed that one year ago now that divisions could now come.
– It was not a promise; , but hopefully a divide could be introduced in 2019 for the 2010 fiscal year. But a strong balance sheet is very important to us. We also look at a number of interesting investment opportunities, CFO Svein Stoknes responded.
He said that the company's bank loan is also a 1 billion NOK that is renewing in October, and that is now working to look at how that loan should be re- funding. Stoknes said, in 2017, that the mobile cash register (RCF) was used to repay the loan before finding a perfect time to build new money in the market.
– After an overall evaluation, the board chose to do a patient, he said.
– How long do divisors need to wait for departments until next year?
– We could pay shares now, but the board believes there are better opportunities for cash money and it is wise to look at what's going on in 2019. So if we are now in & # 39; maintaining the good profit development and that we have a low working capital we will return to that. Our section policy states that CEO Luis Araujo says E24 after the show.
She has spent money on wind offshore
It is building on what Aker Solutions has spent some of its money. Their company announced Friday that they bought the final 30% of the Mecanica CSE in Brazil, which bought 70 per cent of it in 2016.
In addition, at the beginning of 2019, its company also invested its interest in Principle Power from 5.0 to 11.8 per cent, as previously stated. Principle Power has developed a wind heat, a base for outdoor wind turbines.
– Is that the type of construction you are currently working when you talk about "investment opportunities"?
– We will look for opportunities everywhere. Our company care is complete, but there may be areas where we can see that we can invest in something that can be added to & # 39; we already have a business that allows us to grow, says Araujo and her. follow:
– The construction in Brazil was important to increase our Brown Brown abilities and it was important to get a scale from the beginning. He has paid off. We have recessed the decline to make added value investments and we look at more opportunities.
Brownfield's concept describes projects on existing oil fields, whether it is extensions, redesigns or satellite areas, rather than Greenfield's place; mentions new developments.
You need to cut costs to avoid holes
When the oil broke in when the oil price hit in 2014, the fall and Aker Solutions started to fall.
After its 2017 base, where the income and the basic edge were to be Exit, revenue has risen to a degree, as long as the edge ended in 2018.
In 2019, the company expects to keep the change into & # 39; tick some, long & long; & nbsp; expect the edge to become flat. Finance director Svein Stoknes was also clear that the cost level had to go further and that there would be a need for ongoing improvements if the company is to direct this:
The case is & # 39; follow under the ad.
"To protect the core edges, the continued performance of a high quality project and improvements in operational efficiency," said Stoknes.
The graph below shows the development from 2016:
One reason why Aker Solutions and the margins of oil suppliers has dropped many of the contracts they are currently working are signing under the oil breakdown.
Then the competition for the hard contracts and the suppliers went down in cost to protect work. This effect still has Aker Solutions, but finally it will decline.
The fault is also significantly higher in the Projects department, which works on improvements and projects, the Services section, which includes maintenance and production services. However, the Services department is not much smaller.
– Do you expect more flocks again, and if so, when?
– We always want a higher edge and we will always work for it. But there is no doubt that we have won many contracts under competitive contracts. I'm very happy because we keep up the edges, that's a Thanks to the hard work of all my colleagues, says CEO Luis Araujo.
"When we hope we get more measure and scale and better prices, the edges will increase in the future," he says.
Aker Solutions has been working hard to share the resources and share its materials all over the world.
This means that the company is both a. giving them more flexibility when it comes to where equipment can be made, and one can increase the edges as the order increases.
– The project division continues to fall on the edge. Did he establish this year or year?
– There is a hard competition everywhere, but sometimes the Services are more competitive projects. Services are one of our strategic pillars and the aim is to grow; business. Today, it accounts for about 20 to 25 percent of the income, but it wants that department to rise, says Araujo.