Aker ASA: First Quarter 2022 Results


Oslo, Norway, May 4, 2022 /PRNewswire/ — The Net Asset Value (“NAV”) of Aker ASA and Holding Companies (“Aker”) Hits an All-Time High NOK 74.7 billion in the first quarter of 2022, a NOK 4.9 billionan increase of 7.1% compared to the end of 2021.

The NAV per share amounts to NOK1,006 according to March 31, 2022compared to NOK939 according to December 31, 2021. Aker shares fell 1.8% to NOK 810 in the first quarter, compared to a 5.0% increase in the benchmark (“OSEBX”).

Russia invasion of Ukraine and its ramifications are not limited to Eastern Europe but shook the financial market and disrupted the global economy. It has the potential to reverse decades of progress for globalization and growth. In the midst of such a brutal and senseless conflict, where entire energy markets are being recalibrated, the significance of a single company’s first quarter results pales,” said Øyvind Eriksen, President and CEO. from Aker ASA.

The increase in value of Aker’s Industrial Holdings portfolio from NOK 3.9 billion in the first trimester for NOK 71.5 billion mainly due to the increase in the value of Aker BP and Aker Solutions. The value of Aker’s financial investment portfolio amounted to NOK 13.4 billion at the end of the first quarter, compared to NOK 12.5 billion according to December 31, 2021.

“Our portfolio companies continue to demonstrate their ability to adapt to volatile market conditions and drive growth. As uncertainty looms on many fronts, our way forward is – as always – both to strengthen and use our industrial base for responsible and sustainable value creation,” says Eriksen. “Aker’s net asset value increased by NOK 4.9 billion for NOK 74.7 billionor a recording NOK1,006 per share. The increase is largely due to growth in the oil and gas segment, where Aker BP contributed with an increase of NOK 7.9 billion of the quarter, excluding dividend. More than one company is contributing to our results, however, I am encouraged by the overall development of our portfolio, which reflects the strong activity and industrial development underway.”

Aker’s liquidity reserve, including undrawn credit facilities, amounted to NOK 7.4 billion according to March 31, 2022. The value-adjusted capital ratio was 88%, up slightly from the end of 2021.

The full report and presentation are available at www.akerasa.com and www.newsweb.no

For more information please contact:


Joachim Bjørni, Head of Investor Relations, Aker ASA
Tel: +47 924 22 106
Email: joachim.bjorni@akerasa.com


Atlé KigenHead of Media Relations and Public Affairs, Aker ASA
Tel: +47 907 84 878
Email: atle.kigen@akerasa.com

This information is subject to the disclosure requirements in accordance with Section 5-12 of the Norwegian Securities Act.

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