Offshore energy contractor Aker Solutions reported second quarter earnings before interest, taxes, depreciation and amortisation (EBITDA) of NKr232m (€22m), compared with Nkr623m for the same period in 2019.
Revenues also fell in the second quarter of 2020 to Nkr5.4bn from Nkr7.5bn in the same period last year, as activity levels declined due to the Covid-19 pandemic and lower oil prices.
“We continue to see demand for studies and front-end work for larger and more complex projects, related to both our traditional oil and gas market and our renewables business,” said Aker chief executive Luis Araujo (pictured).
“This puts us in a strong position to secure more work in future phases of projects and in the growing renewables segments,” he added.
Araujo said activity is likely to be driven by the home market and the low-carbon agenda.
In total, Aker Solutions sees overall revenue at around Nkr21-22bn in 2020.