Aker Solutions ASA (AKRTF) Q4 2024 Earnings Call Transcript

2025-02-11 14:32:02 ET

Aker Solutions ASA (AKRTF)

Q4 2024 Results Conference Call

February 11, 2025 03:00 AM ET

Company Participants

Preben Ørbeck - Head of Investor Relations

Kjetel Digre - Chief Executive Officer

Idar Eikrem - Chief Financial Officer

Presentation

Preben Ørbeck

Good morning, and welcome to Aker Solutions' presentation of our Fourth Quarter and Full Year Results. My name is Preben Ørbeck, and I am the Head of Investor Relations. With me here today is our CEO, Kjetel Digre; and our CFO, Idar Eikrem. They will take you through the main developments of the quarter and the full year.

After the presentation, as always, we have time for questions. Those of you who are following the webcast can submit your questions via the online platform.

And with that, I leave the word to Kjetel Digre.

Kjetel Digre

Thank you, Preben, and welcome to everyone tuning in. As we are putting 2024 behind us and are embarking on 2025, I wanted to start the presentation today highlighting some of the achievements we have made since the merger between Aker Solutions and Kvaerner back in 2020. At that time, we set ambitious targets for the new company, and I'm very proud to see that we have delivered over and beyond our targets, generating solid returns to our shareholders. I think these achievements are a clear testament to the competencies and capabilities of the entire organization of Aker Solutions.

And to give you a few numbers. We have currently about 11,800 people in more than 15 countries. Out of this global workforce, I wanted to highlight our engineering organization, which today counts about 5,000 people. India is our second largest engineering hub, after Norway, with about 1,000 highly skilled engineers. When it comes to the large EPC projects, both in oil and gas and renewables, India currently accounts for more than 1/3 of our engineering hours. So our operations in India is very important for us as it enables us to deliver high-quality engineering services at competitive prices across market segments and geographical regions.

Another critical aspect of growing and developing our company is access to new talents. And I'm happy to see that our focused efforts seem to resonate well with both engineering students and professionals, rating us as the second most attractive employer in Norway for the second year in a row....

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