Aker Solutions saw its revenue decline by NOK2billion in the first quarter of the year compared with 2015 amid the continued oil price decline.
The company, which last week announced it was making job losses from its UK operations, said the drop was caused by the market slowdown as well as some projects reaching their completion.
Earnings before interest and tax were posted of NOK314million compared with NOK409million a year earlier.
Aker said its subsea revenue decline to NOK3.9billion in the first quarter, compared with NOK5.1billion a year earlier.
Meanwhile, revenue in field design fell to NOK2.6billion.
Luis Araujo, chief executive of Aker Solutions, said: “Margins were supported by our drive to improve operations and bring down costs across the business and on projects with customers.
“Our healthy order backlog, consistently strong execution and solid finances will stand us well as we face continued market uncertainty.”
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