May 4, 2023-Aker Solutions has delivered increased year-on-year revenues, margin
growth and improved cash-generation on the strength of solid project execution.
Growing demand for Aker Solutions' offerings for the energy industry is
reflected in a record-high order backlog and high tendering activity.

· 1Q, 2023 Financial Highlights
  · (all figures excluding special items)
  · Revenue NOK 11.4 billion
  · EBITDA NOK 906 million
  · EBITDA margin 7.9 percent
  · Earnings per share NOK 0.92
  · Net cash position NOK 6.6 billion
  · Order intake NOK 12.5 billion (1.1-times book-to-bill)
  · Order backlog NOK 98.9 billion

"Aker Solutions has delivered solid financial results while continuing to
execute on our strategic agenda. With a historically high order backlog and
robust order intake in this quarter, we are on-track to meet financial targets
and to seize opportunities in rapidly changing energy markets," said Kjetel
Digre, Chief Executive Officer of Aker Solutions.

Key developments
Revenue in the first quarter increased to NOK 11.4 billion compared to NOK 8.3
billion in the first quarter of 2022. Driven by solid performance in ongoing
projects, EBITDA increased to NOK 906 million, compared to NOK 583 million in
the same quarter last year.

Order intake for the quarter ended at NOK 12.5 billion, or 1.1-times book-to
-bill, and included offshore projects like the Rosebank FPSO upgrade for Altera,
the electrification of Okea's Draugen platform, Equinor's Åsgard topside
modifications for the Berling tie-in, as well as the subsea production system
for TotalEnergie's Lapa South West field in Brazil. The secured order backlog at
the end-of-the quarter stood at NOK 99 billion, while tendering value in the
quarter increased slightly to NOK 79 billion.

Solid operational performance and pre-payments from newly awarded contracts
resulted in strong cash generation. Our net cash position was?NOK 6.6 billion at
the end of the quarter.

Aker Solutions continues its transformation to a more broadly based energy
services supplier, enabling customers across industry sectors to achieve their
ambitious decarbonization targets. To further decarbonize supply chains, Aker
Solutions joined the First Mover Coalition for the use of green steel.

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. The high order backlog, mainly
made up of projects to be executed in the well-proven alliance model with Aker
BP with balanced risk-reward profile and upside potential through shared
incentives, offers good visibility on activity levels going forward.

Project sanctioning across global energy markets is picking up, and Aker
Solutions is well positioned to capitalize on near-term market recovery and
longer-term structural changes underway in world energy markets.

Based on the secured backlog and tendering activity, full-year revenue in 2023
is expected to increase by more than 15 percent compared to 2022. The underlying
EBITDA margin, at this early stage of the year, continues to be seen up from
2022 levels.

ENDS

Media Contact:
Torbjørn Andersen, mob: +47 928 85 542, email:
torbjorn.andersen@akersolutions.com

Investor Contact:
Preben Ørbeck, mob: +47 470 10 611, email:
preben.orbeck@akersolutions.com (Preben Ørbeck, mob: +47 470 10 611, email:
preben.orbeck@akersolutions.com)

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 15,000
people in more than 20 countries.

Visit akersolutions.com and connect with us on
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LinkedIn (https://www.linkedin.com/company/aker-solutions),
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YouTube (https://www.youtube.com/akersolutions).

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 May 4, 2023 at 07:00 CEST.

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