On Wednesday morning let Aker Solutions presents its figures for Q2 2015. Profit after tax was NOK 209 million, against 388 million in the same period last year.
According to TDN Finans was expecting a profit of 276 million.
Revenues amounted to 8.048 million compared with 8.060 million in Q2 2014.
Pre tip was for 7.913 million.
According to the quarterly report contributed a slower market in Norway and the North Sea to the disappointing results in the quarter. It led to the weaker profit margin.
Here’s report and presentation.
The news contributed to a solid fall on the Oslo Stock Exchange.
I write traded share for 38.68 dollars, down 7.13 percent.
Analysts TDN Finans has been in contact with is generally little impressed by the company’s report for Q2 2015. Some plan to cut all estimates.
Sparebank 1 Markets analyst Christopher Møllerløkken believes that the figures are not dramatically different than expectations and explains that much of today decline reflects the marked price increase in the last minutes of trading yesterday.
When it comes to guidance, which was largely unchanged, says Møllerløkken that this was as expected.
Bank of America Merrill Lynch writes in an update, according to Bloomberg News, that the weak trend continues for Aker Solutions in Q2, and the company did not show signs of improvement after a weak start to the year.
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