Ebitda at Norwegian energy service firm Aker Solutions dropped by 33% to £128 million in 2020, a year of “unprecedented challenges”.
But Aker managed to increase revenues by 0.5% to £2.5bn in spite of the Covid pandemic and related oil price volatility.
More encouragingly, order intake grew to £2.9bn in 2020, thanks to high levels of activity in core oil and gas markets, following the introduction of tax incentives in Norway.
Full-year 2019 order intake totalled £1.7bn, according to Aker’s corresponding annual report.
Aker also said it had realised its £128m overhead cost saving target through its merger with Kvaerner.
In addition, the company is tendering for £6.5bn of new work, a third of which relates to renewables and low-carbon projects.
The company provided the preliminary figures ahead of the publication of its full year results for 2020 on February 15.