The Net Asset Value ("NAV") of Aker ASA and holding companies ("Aker") ended the
first quarter at NOK 59.7 billion, down 10.8 percent from NOK 66.9 billion at
the end of the fourth quarter.
The per-share NAV amounted to NOK 803, as per 31 March 2023, compared to NOK 900
as per 31 December 2022. The Aker share decreased 6.6 percent in the quarter to
NOK 672, compared to an 8.1 percent decrease in the Brent oil price and a 0.4
percent increase in the Oslo Stock Exchange's benchmark index ("OSEBX").
"Aker closed the first quarter of 2023 with high activity across the portfolio
both within conventional energy, renewables, and other segments. Oil and gas
production reached a new record level coupled with industry-leading and record
low emissions intensity," said Øyvind Eriksen, President and CEO at Aker ASA.
"Looking ahead, Aker's active ownership priorities in 2023 are on executing on
growth projects, especially the project portfolio in Aker BP with Aker Solutions
as a main supplier, while simultaneously driving progress towards sustainable
energy production through predictable project execution, strong partnerships,
and deployment of innovative digital solutions," said Eriksen.
The value of Aker's Industrial Holdings portfolio decreased by NOK 7.9 billion
in the quarter, to NOK 56.0 billion. This was mainly driven by the negative
value development of the investment in Aker BP by 5.6 billion and in Aker
Horizons by 1.7 billion, in addition to NOK 751 million in dividend paid from
Aker BP to Aker in the quarter. The value of Aker's Financial Investments
portfolio stood at NOK 12.6 billion at the end of the first quarter, compared to
NOK 12.2 billion at the end of the fourth quarter. Please note that Aker Energy
(now Pecan Energies), and the future potential earn-out from the sale, is from 1
January 2023 onwards reported as part of the Financial Investments portfolio.
Comparative figures are re-presented correspondingly.
Aker's liquidity reserve, including undrawn credit facilities, stood at NOK 6.6
billion at the end of the quarter. The value-adjusted equity ratio was 87
percent, compared to 88 percent at the end of the fourth quarter.
For further information or questions following the presentation, please email
the relevant contact below. The quarterly presentation and material will be made
available at www.akerasa.com and www.newsweb.no
ENDS
Media contact
Atle Kigen, Head of Media Relations and Public Affairs Aker ASA
Tel: +47 90 78 48 78
E-mail: atle.kigen@akerasa.com
Investor contact
Fredrik Berge, Head of Investor Relations Aker ASA
Tel: +47 45 03 20 90
E-mail: fredrik.berge@akerasa.com
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange announcement was published by Laila Hop, Paralegal, Aker
ASA, on May 5, 2023, at 07:00 CEST.