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    AKSO   NO0010716582

AKER SOLUTIONS ASA

(AKSO)
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Aker Solutions ASA Wins Award of Major Offshore Wind Contract

07/19/2021 | 02:30am EDT

Aker Solutions ASA, as part of a consortium, has signed a major EPCI conact with an undisclosed customomer to provide the HVDC (high-voltage, direct current) transmission system for a large offshore wind project. More details about the project is expected to be announced by the customer and its partners during the third quarter of 2021. For Aker Solutions, the scope will involve engineering, procurement, construction and installation (EPCI) of an offshore HVDC converter platform. This platform will consist of a steel jacket substructure and a topside platform deck housing the electrical equipment. Work will start immediately with installation planned to start in the second half of 2024 and final deliveries in the second half of 2025. In an offshore wind project, the role of an offshore HVDC platform is to collect the AC power generated by the wind turbine generators (WTGs) and convert it to DC before transmission through an export cable to the project's onshore converter station and grid connection system. Aker Solutions will book about NOK 3 billion as order intake related to this award in the third quarter of 2021, in the Renewables and Field Development segment.


ę S&P Capital IQ 2021
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Financials
Sales 2021 27 759 M 3 173 M 3 173 M
Net income 2021 107 M 12,2 M 12,2 M
Net Debt 2021 2 632 M 301 M 301 M
P/E ratio 2021 80,7x
Yield 2021 0,18%
Capitalization 8 536 M 983 M 976 M
EV / Sales 2021 0,40x
EV / Sales 2022 0,34x
Nbr of Employees 14 789
Free-Float 41,7%
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 17,63 NOK
Average target price 18,28 NOK
Spread / Average Target 3,67%
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Managers and Directors
Kjetel Digre Chief Executive Officer
Idar Eikrem Chief Financial Officer
Leif Arne Lang°y Chairman
HervÚ Valla Chief Technology Officer
Dean Watson COO & Executive VP-Subsea Lifecycle Services
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