Aker Solutions Presents Strategic Goals After Company Split
(Thomson Reuters ONE) -
March 17, 2015 - Aker Solutions today presents five strategic objectives after
splitting in two in September last year to better position all parts of the
business and meet the needs of customers.
The company, which meets today with investors in London, will build on its
strengths in key subsea and field design markets as it seeks to:
* Be the preferred partner, with an unparalleled level of safety and
performance
* Capture growth in offshore deepwater, subsea and harsh environment markets
* Maintain and expand a global presence through disciplined, organic growth
* Further develop portfolio with a diversity of customers, regions and strong
contract mix
* Deliver operational excellence, realize synergies, strengthen cost control
and capital discipline
"The split allows us to reduce complexity, build on synergies and bring down
costs, which makes us much better equipped to respond to the needs of customers
in the 22 countries where we operate," said Chief Executive Officer Luis Araujo.
"Our focus now is on creating value for our clients and shareholders through the
right technology development, quality in execution, cost control and by applying
the full force of our engineering skills at the conceptual stage of a project to
find the most effective solutions."
Aker Solutions yesterday won a contract from Statoil to deliver a concept study
for future phases of the North Sea Johan Sverdrup development, Norway's largest
oil find in three decades. While Norway is the company's single largest regional
market, Aker Solutions is this year set to get 60 percent of its revenue outside
its home market amid an expansion in key offshore oil and gas markets in Africa,
Brazil and Asia Pacific. That share is growing from 50 percent last year and
about 40 percent the year before.
Aker Solutions had a near-record order backlog of NOK 48 billion kroner in 2014
after winning major contracts including a NOK 14 billion order from Total at the
Kaombo field in Angola, one of the world's largest subsea developments, and a
more than USD 300 million contract from Petrobras in Brazil to deliver subsea
manifolds.
The company's subsea, umbilicals, engineering and maintenance, modifications and
operations (MMO) areas were spun off in September 2014 to create a new business
under the Aker Solutions name.
"We're ideally placed to excel in key subsea, deepwater and field design markets
through our considerable local content, strong client relationships, leading
technology and unique engineering," said Araujo. "We're taking on current market
challenges from a position of strength, with a robust order backlog and a sharp
eye on our operational and financial performance.''
Aker Solutions has intensified its focus on operational excellence and cost
control through improvement agendas within the company and externally with
customers. New cost-savings programs in all business segments and corporate
functions are well underway. These include a goal for the engineering business
to reduce engineering and procurement services costs 30 percent by the end of
2017. The MMO area is also on track to lower the cost of modifications 30
percent by the end of 2016. The subsea segment has set a target to improve
operational efficiency 15 percent annually. This was achieved in 2013 and 2014.
Outlook
Uncertainty has increased for oil-services providers as oil companies scale back
spending amid concern over capital and the slump in oil prices since last
summer. This is particularly affecting the Norwegian MMO market and the company
anticipates a continued slowdown in this area over the next one to two years.
Major projects such as the Johan Sverdrup development will help offset some of
the decline.
Aker Solutions expects to grow with its key markets over the medium term and at
least maintain market share in its core businesses. Margins are expected to
remain robust in Engineering and gradually recover in MMO. Aker Solutions
targets peer-group margins over time for Subsea.
"Longer term, we are optimistic," said Araujo. "Our leading technology,
engineering and project management skills put us in a prime position to benefit
from a shift toward more complex offshore resources. Few companies are better
placed in the global deepwater and subsea segments, which are among the fastest-
growing offshore oil and gas markets in recent years."
ENDS
For further information, please contact:
Media:
Bunny Nooryani, Chief Communications Officer, Aker Solutions. Tel:
+47 67 59 42 71, Mob: +47 480 27 575, E-mail: bunny.nooryani(at)akersolutions.com
Anne Cecilie Lund-Andersen, Media Relations Manager, Aker Solutions. Tel:
+47 22 94 74 52, Mob: +47 99 62 12 13, E-mail: anne.cecilie.lund-
andersen(at)akersolutions.com
Investor relations:
David Phillips, Head of Industry & Investor Relations, Aker Solutions. Tel:
+44 208 811 7111, Mob: +44 7788 338 887, E-mail:
david.phillips(at)akersolutions.com
Lasse Torkildsen, SVP Investor Relations, Aker Solutions. Tel: +47 67 51 30 39,
Mob: +47 911 37 194, E-mail: lasse.torkildsen(at)akersolutions.com
Suppliers:
For further information about sourcing and potential subcontracts for this
project, please visit www.akersolutions.com/suppliers
Career opportunities:
Visit http://www.akersolutions.com/careers
Aker Solutions is a global provider of products, systems and services to the oil
and gas industry. Its engineering, design and technology bring discoveries into
production and maximize recovery. The company employs approximately 17,000
people in about 20 countries. Go to www.akersolutions.com for more information
on our business, people and values.
This press release may include forward-looking information or statements and is
subject to our disclaimer, see www.akersolutions.com.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Aker Solutions presentation - Investor Day 2015 :
http://hugin.info/163509/R/1903988/677262.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Aker Solutions ASA via GlobeNewswire
[HUG#1903988]
Unternehmensinformation / Kurzprofil:
Datum: 17.03.2015 - 08:56 Uhr
Sprache: Deutsch
News-ID 378954
Anzahl Zeichen: 7270
contact information:
Town:
Fornebu
Kategorie:
Business News
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"Aker Solutions Presents Strategic Goals After Company Split"
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