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Kjell Inge Røkkes Aker reduced its value-adjusted equity by NOK 3.3 billion to NOK 31.0 billion in the third quarter from NOK 34.3 billion in the second quarter.
The main reason is that Aker BP, the oil company which is the largest company in the Aker family, fell in value during the quarter.
The Board of Directors of Aker has decided to pay a dividend of NOK 11.75 per share in the fourth quarter.
– Like a phoenix from the ashes
The total value of Aker’s industrial portfolio fell by NOK 1.9 billion in the quarter to NOK 36.2 billion. The reduction is mainly due to impairment in Aker BP and the krill company Aker Biomarine. This has been partially offset by an increase in value in Aker Carbon Capture and Aker Offshore Wind.
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– Now that the smoke from 2020 disappears, business opportunities have emerged as a phoenix from the ashes. We have witnessed a record number of IPOs and the capital markets report an extraordinary flow of agreements, says Øyvind Eriksen, who says that Aker is quick to seize the opportunities and that the share discount against value-adjusted equity has been at a record low during the period.
In October, Aker and Kjell Inge Røkke joined the American investment company Accel on the ownership side of the technology company Cognite. The agreement prices Cognite at 550 million dollars, around 5.1 billion kroner.
Green values
During the quarter, Aker launched three new companies on the stock exchange: Aker Biomarine, Aker Offshore Wind and Aker Carbon Capture. Aker has traditionally been heavily involved in oil-related activities, but is now also investing more in the green direction.
The latter two were separated from Aker Solutions, which then merged with Kvaerner.
These two new green companies have about zero revenue, but a bright, green future, and are priced accordingly. The two companies have a combined market value of around NOK 7 billion.
Aker Carbon Capture will assist Norcem in CO2-cleansing at the cement factory in Brevik, which is the breakthrough for this company.
Aker Solutions and Kvaerner have a turnover of billions, decent earnings, thousands of employees but operate in the somewhat unpopular oil-heavy supplier industry. In comparison, the market value of these two companies is less than NOK 5 billion. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other form of use of all or part of the content, can only take place with written permission or as permitted by law. For additional terms look here.
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