Aker ASA: Third Quarter 2021 Results


Oslo, Norway, November 5, 2021 / PRNewswire / – The Net Asset Value (NAV) of Aker ASA and the holding companies (“Aker”) increased by 3.9 billion NOK in the third quarter of 2021. At the end of the third quarter, the NAV was NOK 70.8 billion, the highest net asset value on record for the company for the second consecutive quarter. For the first nine months of the year, NAV increased by NOK 18.3 billion, or 34 percent, adjusted for the dividend.

“Aker creates shareholder value through active industrial property and transactions. This has been essential in the creation of our fast growing industrial companies like Aker BP, Aker Horizons and Cognite ”, said Kjell Inge Røkke, Chairman of the Board of Directors and majority shareholder of Aker ASA and Øyvind Eriksen, President and CEO of the management of Aker ASA, in a joint statement to the shareholders. “Our industrial portfolio is the center of gravity of Aker’s financial and industrial development and has contributed with a total of 4.0 billion crowns on the rise in value in the third quarter. The industrial portfolio is where Aker leverages its opportunities and partnerships to develop technologies, projects, organizations and business models, creating value quarter by quarter. Our entry into offshore salmon farming, with SalMar Aker Ocean, in partnership with SalMar, is a good example. “

The NAV per share amounts to 953 NOK according to September 30, 2021, compared to 901 NOK and NOK 718, according to June 30, 2021 and December 31, 2020, respectively. Aker stock rose 9 percent, to 692.00 NOK in the third quarter, against a 4.0% increase in the benchmark (OSEBX).

The increase in the value of Aker’s Industrial Holdings portfolio was NOK 4.0 billion in the quarter to NOK 75.5 billion. Quarterly results were mainly driven by increases in the value of investments in Aker BP, Aker Horizons and Ocean Yield. The value of Aker’s financial investment portfolio was NOK 8.0 billion at the end of the quarter, up 6.3% from the second quarter.

“Aker’s DNA is industrial development across generations and value-creating transactions. We are satisfied with the positive development of our portfolio. At the same time, we recognize that the number of opportunities that present themselves exceeds our capacity. We realize that our ability to create shareholder value through transactions can advantageously be institutionalized to become more scalable, ”said Røkke and Eriksen. To further strengthen Aker’s development, Asset Management is established as a new platform for growth. “The direction is clear. Long-term industrial development and active asset management go hand in hand. Aker is now erecting asset management as a new platform in the Aker ecosystem, with venture capital and private equity firms as first initiatives, to develop and strengthen the capital base to realize new opportunities and deliver further more room for active ownership. “

Aker’s liquidity reserve, including unused credit facilities, amounted to NOK 2.1 billion according to September 30, 2021. The value-adjusted equity ratio was 85 percent, up slightly from the second quarter.

Based on the equity and liquidity position of the company, the board of directors of Aker has taken the decision to distribute a cash dividend to the shareholders of 11.75 NOK per share in the fourth quarter. The dividend is based on the 2020 annual accounts.

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
Phone. : +47 924 22 106
Email: joachim.bjorni@akerasa.com

Atle Kigen, Head of Media Relations and Public Affairs, Aker ASA
Phone. : +47 907 84 878
Email: atle.kigen@akerasa.com

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

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https://news.cision.com/aker-asa/r/aker-asa–third-quarter-results-2021—record-high-net-asset-value-of-nok-70-8-billion , c3447804

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