Aker ASA: Third quarter results 2013 - Net Asset Value of NOK 21.8 billion
The net asset value of Aker ASA and holding companies (Aker) rose 2.1 per cent in the quarter to NOK 21.8 billion. Per-share net asset value (NAV) amounted to NOK 302 as of 30 September 2013, compared to NOK 296 as per 30 June 2013 and NOK 309, after allocated dividend, as per year end 2012.
The third quarter saw a rebound in the performance of our Industrial Holdings, after a slow first half of the year, said Aker President and CEO Øyvind Eriksen. Aker Solutions and Kvaerner posted quarterly results largely in line with market expectations, Det norske made important steps in establishing a financial structure to fund upcoming developments and Ocean Yields stock posted a solid performance following its initial public offering. Aker BioMarine and Havfisk revealed some of their underlying values through divestments at attractive prices.
Cash holdings gained NOK 642 million to NOK 4.8 billion in the third quarter, primarily due to Aker BioMarines reimbursement of a NOK 300 million receivable to Aker. Ocean Yield disbursed NOK 246 million in dividend and loan repayment to Aker in the quarter. Cash holdings stood at NOK 3.1 billion as per 31 December 2012.
The value of Akers Industrial Holdings portfolio rose to NOK 18.3 billion in the quarter, from NOK 17.9 billion as of 30 June 2013. Akers Financial Investments portfolio amounted to NOK 9.4 billion, compared to NOK 9.3 billion as of 30 June 2013.
The value-adjusted equity ratio was 79 per cent, up from 78.6 per cent as of 30 June 2013. The Aker share advanced 7.6 per cent during the third quarter to NOK 183, compared to a 7 per cent gain in the Oslo Stock Exchanges benchmark index (OSEBX). Aker received NOK 200 million in total dividend payments from Aker BioMarine and Ocean Yield in the quarter.
As an owner, Aker is concerned with building solid companies that can generate competitive returns to all shareholders, Eriksen said. The third quarter was one that brought us further along this path.
The full report and presentation can be downloaded from www.akerasa.com
For further information, please contact:
Atle Kigen, Head of Corporate Communications
Phone: +47 24 13 00 08
Mobile: +47 907 84 878
Marianne Stigset, Head of Investor Relations
Phone: +47 24 13 00 66
Mobile: +47 41 18 84 82
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Source: Aker ASA via Thomson Reuters ONE