Aker Solutions in the red after turbulent year and merger

2020 was a year of change for Aker Solutions, which enters a new era with a major deficit and expects to stay in the red for the foreseeable future, shows the Norwegian oil service company's financial report.

Photo: Aker Solutions

In the fourth quarter of 2020, Norwegian oil service companies Aker Solutions and Kvaerner merged with each other, keeping the former's name and booking a deficit of NOK 844 million (EUR 82.5 million).

So, even though the merger has "created a stronger and more optimized supplier company" better prepared for the future, according to Chief Executive Kjetel Digre, the company has a cash challenge here and now. For the entire year, Aker Solutions reports a deficit of NOK 1.52 billion.

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