The net asset value (“NAV”) of Aker ASA and the holding companies (“Aker”) increased by 34.7% in the first quarter to reach NOK 56.2 billion (NOK 757 per share) from NOK 41.7 billion NOK at the end of the year. 2018.
Aker share rose 42.4% in the first quarter, compared to 8.0% for the benchmark of the Oslo Stock Exchange (âOSEBXâ).
âAker and the companies in our portfolio continue to grow, with improvements in both underlying operations and financial performance. In the first quarter, the five listed companies in the industrial portfolio all posted positive value gains. The contribution in this quarter is largely explained by Aker BP, helped by improved sentiment in the oil and gas sector, resulting in a contribution to the net asset value of NOK 13.5 billion, of which NOK 647 million in dividends received at Aker, âsaid Aker President and CEO Ãyvind. Eriksen.
The value of Aker Industrial Holdings’ portfolio reached NOK 60.1 billion in the first quarter, compared to NOK 46.1 billion at the end of the fourth quarter. The value of Aker’s financial investment portfolio was NOK 6.5 billion at the end of the first quarter, compared to NOK 5.1 billion as of December 31, 2018. Aker Energy and Cognite were included in the portfolio. of Aker’s Industrial Holdings in the first quarter.
âI am impressed by the efforts of everyone who works in and for Aker Energy – at the moment the most important and important project of Aker. Aker has big ambitions in Ghana. The objective is to build, via Aker Energy, the first E&P company on the Ghanaian continental shelf, and to contribute to the development of industrial capacities at the national level. Thanks to Aker Energy, we will expand our E&P business into a new, resource-rich region, âsaid Eriksen.
Aker’s liquidity reserve, including unused credit facilities, stood at NOK 6.4 billion as of March 31, 2019.
The value-adjusted capital ratio was 84 percent, down from 82 percent as of December 31, 2018.
The full report and presentation can be downloaded from www.akerasa.com.
The net asset value (NAV) is the main performance indicator of Aker ASA. Aker is an investment company with a majority of listed companies in its portfolio. Thus, the NAV is a more relevant indicator of the evolution of the underlying value of Aker than the consolidated accounts of the company.
For more information, please contact:
Per Kristian Reppe, Chief Investment Officer and Head of Investor Relations
Telephone: +47 24 13 00 67
Mobile: +47 90 03 32 03
Atle Kigen, Head of Corporate Communications
Telephone: +47 24 13 00 08
Mobile: +47 90 78 48 78
This information is subject to disclosure requirements in accordance with Section 5-12 of the Norwegian Securities Law.
Interim report Aker ASA 1Q 2019
Aker ASA 1Q 2019 presentation