Oil services firm Aker Solutions has reported decreased revenue for the third successive year within its 2017 annual report.
However, despite reporting a drop from £2.3billion in 2016 to just over £2billion in 2017, the firm increased net profits from £13million in 2016 to £21million last year.
Back in 2015, Aker Solutions reported £2.7billion in revenue.
Luis Araujo, cheif executive officer said: “Oil and gas remain central to our business. We have played a key role in bringing down costs in the industry, enabling more projects to move ahead. We rounded off 2017 with a strong order intake. Solid execution on major projects globally and significant efficiency improvements are supporting margins amid increasing signs of a market recovery.
“But we are at heart a technology and engineering company. With those skills you can be anywhere and solve any problem. The world will always need more energy – in whatever form – especially as we transition to a low-carbon society. That is why we are focused on sustainable solutions. Subsea is already playing a major role, but we are also branching out to put our expertise harder to work on gas developments, carbon capture and offshore wind.
“We see ourselves as a key partner in helping provide the sustainable energy solutions the world needs – it’s both the right thing to do and also good business.”
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