Aker Solutions loses big on sales in time of change

The Norwegian offshore service operator, which is nearing a merger with Kværner, has raised its profit in Q3, but did so mainly via divestments and subsidiary spin-offs as revenue continues to lag.

Photo: Aker Solutions

Even though oil prices have rebounded somewhat during in the third quarter, the Covid-19 and oil price crises can still be felt at Norwegian offshore operator Aker Solutions, whose order intake has yet to return in force.

In its third quarter interim report for 2020, the company reports sliding 23 percent in revenue, landing at NOK 5.5 billion (EUR 500 million) against NOK 7.13 billion from the same period last year.

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