Values realized, strengthened for further growth (29.02.2008)
The fourth quarter of 2007 rounded off an outstanding year for Aker: major shareholder value was realized, significant capital was freed up, and a solid foundation was built for continued industrial development and greater predictability as to future returns.
The parent company Aker ASA and its wholly owned holding companies had a pre-tax profit of NOK 5.1 billion in the fourth quarter of 2007, up from NOK 3.4 billion in the corresponding 2006 reporting period. For 2007 as a whole, pre-tax profit amounted to NOK 12.7 billion, up from NOK 4.2 billion in 2006. The company’s revenues are largely attributable to sales gains.
Both in the fourth quarter and throughout 2007, Aker strengthened its balance sheet and reinforced its robustness and flexibility for achieving long-term value creation via continued industrial development. At year-end 2007, Aker ASA and wholly owned holding companies had NOK 12.3 billion in cash and cash equivalents — up from NOK 0.9 billion a year earlier and NOK 5.7 billion as of 30 September 2007.
Value-adjusted equity amounted to NOK 29.8 billion as of 28 February 2008. A year earlier, at the presentation of the fourth-quarter 2006 report, the corresponding figure was NOK 33.4 billion.
In accord with Aker’s established dividend policy, and as a reflection of the company’s solid 2007 profit, the Board of Directors will propose to the 3 April 2008 annual shareholders’ meeting that an ordinary dividend of NOK 18.50 per-share will be paid.
Status and outlook
Aker’s main companies are developing favorably and largely as projected. Aker Kværner, Aker’s largest asset in terms of market value, delivered a record profit for 2007. Consistent with its policy of active ownership, Aker is directing a major proportion of its resources to the many companies it has established in recent years. This is how Aker helps each company to fully realize its potential.
2007 revenues of Aker companies totaled NOK 61.7 billion. As of 31 December 2007, Aker companies had an aggregate workforce of 35 630, of whom 27 100 were company employees.
The bulk of Aker’s assets is in companies associated with the energy sector in general, and the oil and gas industry in particular. Worldwide consumption of hydrocarbon fuels is rising. This trend has generated significant demand for the technologies, products, and services offered by Aker companies.
Greater popular awareness of the value of a healthy diet is driving demand for seafood and dietary products made from marine raw materials. This trend also is favorable for Aker and its Seafoods & Marine Biotech companies.
Enclosed please find the Q4 2007 report.
For further information, please contact
Geir Arne Drangeid, EVP, Aker ASA, tel: +47 913 10 458
Both in the fourth quarter and throughout 2007, Aker strengthened its balance sheet and reinforced its robustness and flexibility for achieving long-term value creation via continued industrial development. At year-end 2007, Aker ASA and wholly owned holding companies had NOK 12.3 billion in cash and cash equivalents — up from NOK 0.9 billion a year earlier and NOK 5.7 billion as of 30 September 2007.
Value-adjusted equity amounted to NOK 29.8 billion as of 28 February 2008. A year earlier, at the presentation of the fourth-quarter 2006 report, the corresponding figure was NOK 33.4 billion.
In accord with Aker’s established dividend policy, and as a reflection of the company’s solid 2007 profit, the Board of Directors will propose to the 3 April 2008 annual shareholders’ meeting that an ordinary dividend of NOK 18.50 per-share will be paid.
Status and outlook
Aker’s main companies are developing favorably and largely as projected. Aker Kværner, Aker’s largest asset in terms of market value, delivered a record profit for 2007. Consistent with its policy of active ownership, Aker is directing a major proportion of its resources to the many companies it has established in recent years. This is how Aker helps each company to fully realize its potential.
2007 revenues of Aker companies totaled NOK 61.7 billion. As of 31 December 2007, Aker companies had an aggregate workforce of 35 630, of whom 27 100 were company employees.
The bulk of Aker’s assets is in companies associated with the energy sector in general, and the oil and gas industry in particular. Worldwide consumption of hydrocarbon fuels is rising. This trend has generated significant demand for the technologies, products, and services offered by Aker companies.
Greater popular awareness of the value of a healthy diet is driving demand for seafood and dietary products made from marine raw materials. This trend also is favorable for Aker and its Seafoods & Marine Biotech companies.
Enclosed please find the Q4 2007 report.
For further information, please contact
Geir Arne Drangeid, EVP, Aker ASA, tel: +47 913 10 458
2Q 2010 Report