AKER SOLUTIONS LIMITED

Company Information

Company Number
04977339
Registered Address
1 Park Row, Leeds, United Kingdom, LS1 5AB
Status
Active
Employee Count
779.0
Turnover
263067000.0
EBITDA
31845000.0

Additional Details

Company Type
Private limited Company
Incorporated On
26 November 2003
Nature of Business
28990 - Manufacture of other special-purpose machinery not elsewhere classified
Industries
0
Region
Yorkshire and The Humber

Company Location

Google
Map data ©2025
Map data ©2025

Financial Metrics

Cash
£0.00
Net Worth
£51,097,000.00
Total Current Assets
£261,114,000.00
Total Current Liabilities
£149,314,000.00
Reporting Period
2023-07-01 to 2023-12-31Filed: 2024-01-31

Time to Pay

Average Time to Pay
84 days
Shortest Period:0 days
Longest Period:90 days
Max Contractual:90 days

Payment Timeline

Within 30 Days
49%
31-60 Days
22%
After 60 Days
29%
Not Paid Within Terms37%

Payment Features

Participates in Codes✗ No
E-Invoicing✓ Yes
Supply Chain Finance✗ No

Payment Time Trends

Dec 2023Jun 2023Dec 2022Jun 2022Dec 2021Jun 2021Dec 2020Jun 2020Dec 2019Jun 2019Dec 2018Jun 20180255075100

Payment Distribution Trends

Dec 2023Jun 2023Dec 2022Jun 2022Dec 2021Jun 2021Dec 2020Jun 2020Dec 2019Jun 2019Dec 2018Jun 2018015304560

Performance Reports History

Reporting PeriodFiling DateAverage Time to Pay (days)Paid within 30 daysPaid 31-60 daysPaid after 60 daysNot Paid within Terms
01 Jul 2023 - 31 Dec 202331 Jan 20248449%22%29%37%
01 Jan 2023 - 30 Jun 202324 Jul 20234826%39%35%15%
01 Jul 2022 - 31 Dec 202231 Jan 20234927%36%37%11%
01 Jan 2022 - 30 Jun 202213 Jul 20225227%43%30%16%
01 Jul 2021 - 31 Dec 202125 Jan 20225528%44%29%15%
01 Jan 2021 - 30 Jun 202123 Jul 20216327%33%40%22%
01 Jul 2020 - 31 Dec 202029 Jan 20215430%34%36%2%
01 Jan 2020 - 30 Jun 202030 Jul 20205129%39%32%3%
01 Jul 2019 - 31 Dec 201929 Jan 20205028%41%31%10%
01 Jan 2019 - 30 Jun 201924 Jul 20195840%27%33%13%
01 Jul 2018 - 31 Dec 201830 Jan 20195029%43%28%4%
01 Jan 2018 - 30 Jun 201826 Jul 20185127%45%28%4%

Company Summary

AKER SOLUTIONS LIMITED is a leading global provider of engineering, design, and technology solutions for the energy industry

The company is committed to sustainability and has implemented various initiatives to reduce its environmental impact

Their sustainability program focuses on reducing carbon emissions, managing waste and water usage, and promoting employee health and safety

They also work closely with their suppliers and customers to ensure sustainable practices are implemented throughout their supply chain

The company offers a wide range of products and services, including subsea production systems, drilling equipment, and maintenance and modifications for offshore platforms

They also provide digital solutions to improve efficiency and reduce costs in the energy sector

The key people at AKER SOLUTIONS LIMITED include Kjetel Digre, the CEO, and Svein Stoknes, the CFO

Both have extensive experience in the energy industry and are committed to driving the company's sustainability efforts

The company's website address is www.akersolutions.com, where customers can find information on their products and services, sustainability initiatives, and career opportunities

The registered office address is Oksenøyveien 10, 1366 Lysaker, Norway

In summary, AKER SOLUTIONS LIMITED is a leading player in the energy industry, with a strong focus on sustainability

Their commitment to reducing their environmental impact, along with their innovative products and services, make them a key player in the global energy market

Company Review

Trend Analysis

From 2018 to 2023, AKER SOLUTIONS LIMITED has shown a fluctuating trend in their average time to pay. The average time to pay has ranged from 48 to 84 days, with the highest being in 2023 and the lowest in 2018. The company has also shown inconsistent percentages for invoices paid within 30 days, with a low of 26% in 2023 and a high of 49% in 2023. However, the company has consistently maintained a low percentage of invoices not paid within agreed terms, with a range of 2 to 37%.

Volatility Analysis

During the period of 2018 to 2023, AKER SOLUTIONS LIMITED has shown high volatility in their average time to pay, with a range of 36 days. The company has also shown a high volatility in their percentages for invoices paid within 30 days, with a range of 23%. However, the company has maintained a low volatility in their percentages for invoices not paid within agreed terms, with a range of 35%.

Summary Analysis

In the last three periods, AKER SOLUTIONS LIMITED has shown a slight increase in their average time to pay, from 49 days in 2020 to 55 days in 2021. This is mainly due to an increase in the percentage of invoices paid later than 60 days, from 32% in 2020 to 40% in 2021. However, the company has also shown an improvement in their percentage of invoices paid within 30 days, from 29% in 2020 to 30% in 2021. The best period for AKER SOLUTIONS LIMITED was in 2018, where they had the lowest average time to pay and the highest percentage of invoices paid within 30 days. The worst period was in 2023, where the company had the highest average time to pay and the lowest percentage of invoices paid within 30 days.

Invoice Payment Practices

This information is as reported by the business, and responses are in their own words.

Payment Terms

Standard payment terms

Aker Solutions’ standard payment terms state that payment of third-party invoices for goods and services will be made within 60 days of receipt of a correct, undisputed and properly due VAT invoice. In certain circumstances, where it has been agreed in writing by a duly authorised representative, Aker Solutions’ standard payment terms may differ from the standard of 60 days. In any event, the payment terms that apply are clearly stated on each purchase order issued / raised.

Were there any changes to the standard payment terms in the reporting period?

No

Any other information about payment terms

Aker Solutions performed an exercise in September 2023 to settle legacy intercompany balances. These invoices were mostly aged over 1000 days, and if excluded from the payment practices reporting would have resulted in an average time taken to pay invoices of 38 days.

Maximum contractual payment period agreed

90

Dispute Resolution Process

Integrity is at the core of Aker Solutions’ values and, as such, the business endeavours to resolve all queries / disputes in a fair and timely manner. Queries / disputes are resolved by discussion and agreement with a supplier and are typically managed by the buyer responsible for the affected purchase order.

Other Payment Information

Has this business signed up to a code of conduct or standards on payment practices?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

Does this business offer e-invoicing in relation to qualifying contracts?

This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.

Does this business offer supply chain finance?

This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.

Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available

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