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pay an additional cash dividend of NOK 35.50 per share, for a total of NOK 2.6
billion, in the fourth quarter, bringing the total dividend to NOK 3.8 billion,
or NOK 51 per share, for the full year.
“Aker ended the third quarter with a more streamlined and cash-generative
investment portfolio. This enables us to pay an additional NOK 35.50 per share
in cash dividend. Furthermore, for the first time, the Aker’s board is adjusting
the dividend policy upward to 4-6% of NAV annually. Despite a decrease in our
Net Asset Value this quarter, primarily due to lower oil prices, these actions
reflect how we are playing to our strengths, including active ownership and
transactional capabilities, to drive value creation,” said Øyvind Eriksen,
President & CEO of Aker ASA.
Key financials - third quarter 2024
. GAV: NOK 66.2 billion
. Industrial NOK 54.9 billion
Holdings:
. Financial NOK 11.3 billion
Investments:
. NAV: NOK 57.0 billion
. NAV per NOK 767
share:
. Share NOK 548
price:
. Dividend NOK 35.50 per share, to be paid in Nov.
approved:
. Liquidity: NOK 7.9 billion* of which NOK 0.7bn cash and liquid funds
*incl. undrawn credit facilities
“All eyes are on the US this morning. Like the rest of the world, we are closely
monitoring the outcome of the election. Despite the potential impact on global
markets and trade dynamics, many aspects relevant to Aker are expected to remain
unchanged. We anticipate a continued fragmented world, geopolitical uncertainty
and conflicts, and significant incentives for the US to maintain its technology
-leadership and energy self-sufficiency. At Aker, we are used to managing
volatilities and remain committed to maintaining a steady course, continuing to
deliver value to our shareholders.”
The third quarter of 2024 reflected high activity levels across the portfolio.
Aker continued to progress on its strategy of a more streamlined investment
portfolio, by over time focusing on fewer portfolio companies with potential for
secular growth, profitability, and cash flow generation. Aker’s portfolio
companies announced more than NOK 18 billion of total shareholder distributions
during the quarter. Consequently, Aker has increased its estimated upstream
dividends to more than NOK 11 billion in 2024, a significant increase from NOK
4.4 billion last year and NOK 2.8 billion in 2022. Recent dividend announcements
across the portfolio include:
. Aker Solutions: NOK 10 billion (OneSubsea JV transaction)
. Aker BP: USD 379 million quarterly dividend
. Aker BioMarine: NOK 3.9 billion (Feed Ingredients transaction)
. Solstad Maritime: NOK 233 million for Q3 and initiated quarterly dividends
. AMSC: increased quarterly dividends to NOK 43 million
Aker’s revised dividend policy of 4-6% of year-end NAV is rooted in a commitment
to a balanced approach to capital allocation, maintaining a solid balance sheet,
preserving financial flexibility and investment capacity, while delivering
consistent returns to shareholders.
Despite a negative impact on Aker’s NAV in the quarter due to oil price
fluctuations, Aker BP remains a cornerstone of the industrial investment
portfolio. The company delivered strong operational performance, marked by high
efficiency, low costs, and low emissions. Cognite continued its positive
commercial development, with Annual Recurring Revenue (ARR) reaching a new
record high. SalMar Aker Ocean has successfully completed four production cycles
showing stronger biological results compared to traditional fish farming.
For further information, or questions following the presentation, please email
the relevant contact below. The quarterly presentation and materials are
available at www.akerasa.com and www.newsweb.no
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 November 6, 2024, at 07:00 CET.
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