How Does Aker Solutions Company's Operating Model Create Value?

Aker Solutions operating model centers on delivering end – to – end subsea systems, topsides engineering, and carbon capture, utilization, and storage (CCUS) solutions. Revenue mixes combine project engineering, long – term service contracts, and life – of – field asset integrity services.

Clients need higher uptime and lower emissions from offshore and onshore assets; Aker Solutions solves that by integrating design, delivery, and operations to reduce downtime and emissions intensity across asset life cycles.

Value is created through reduced total cost of ownership (TCO), faster time – to – first oil/gas/CO2 storage, and measurable emissions cuts; integrated delivery ups cross – sell of service contracts that delivered recurring revenue of NOK ~18 billion in 2025 across services and maintenance (note: company reporting, 2025 fiscal data).

The 20/25/30 strategy set a target of one – third low – carbon revenues by 2025 and scaling toward two – thirds by 2030, aligning engineering strengths to both oil & gas and renewables, and prioritizing CCUS and electrification to capture growth in transition spend.

Integrated EPCI (engineering, procurement, construction, installation) projects in Renewables and Field Development generated NOK 46.1 billion in 2025, forming the bulk of Aker Solutions operating model revenues and driving scale.

Life Cycle services, including maintenance and modifications (M&M), produced NOK 15.0 billion in 2025; long-term six-year frame agreements with clients such as ConocoPhillips raise margin stability and predictability.

Aker Solutions mixes fixed-price EPCI contracts for scale with higher-margin time-and-materials and frame agreements for Life Cycle work; commercial mix shifted margins to deliver EBITDA of NOK 5.3 billion and an 8.4 percent margin in 2025.

Margin expansion in Life Cycle services is the main value lever as clients favor long-term contracts; passive dividends from OneSubsea added NOK 841 million in 2025, complementing operating cash flow.

Aker Solutions operating model secures cash flows via strong North Sea positions and service contracts while expanding into renewables and transitional energy, reducing single-market exposure. By 2Q 2025, renewables and transitional solutions represented 22 percent of total revenue, signaling material revenue diversification and resilience in the value chain Aker Solutions relies on.

Scale in modular engineering, long-term service contracts, and a renewable order backlog of NOK 28.7 billion (42 percent of total backlog in 2Q 2025) underpin operational efficiency and lifecycle value creation. Partnerships, digitalization in project delivery, and a capital-light framework improve margins and shorten project delivery times across the operating model components Aker Solutions uses.

The model depends on timing and scale of large EPC contracts; top-line volatility is evident as 2026 revenue guidance moderates to between NOK 45 billion and 50 billion. Success in CCUS (carbon capture, utilization and storage) and offshore wind hinges on converting bespoke projects into standardized modules-otherwise the firm stays exposed to lumpy project cycles and supply chain timing risk.

The operating model appears fundamentally sound and high-performing in 2025, having shifted to a capital-light stance and improved Aker Solutions performance metrics. Still, durability depends on the pace of standardization in renewables and CCUS; if Aker Solutions can scale modular engineering and reduce project customization, it will transition from a project-house to a scalable energy-tech platform-if not, revenue volatility will persist.