Aker ASA
LSE:0MJX

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Aker ASA
LSE:0MJX
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Price: 1 074 NOK Market Closed
Market Cap: kr79.8B

Aker ASA
Investor Relations

Aker ASA is a Norwegian industrial investment company. It does not usually sell products directly to end customers; instead, it owns major stakes in operating businesses, mainly in energy, offshore services, maritime industries, and other industrial areas. Its role is to put capital into companies it believes can build long-term value, then help guide strategy and ownership decisions. The company makes money in the same way a holding company does: through dividends from portfolio companies, gains when it sells investments, and returns from ownership interests and related arrangements. The businesses it backs sell to industrial customers such as energy producers, ship and offshore operators, and companies that need engineering, marine, or technology services. What makes Aker different is that it sits one step above the operating businesses. It is not a manufacturer or a service contractor itself; it is an owner and capital allocator. That gives it a concentrated exposure to a set of industrial assets, with value tied to how well those companies perform and how effectively Aker chooses, develops, and exits investments.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Feb 13, 2026
AI Summary
Q4 2025

Net Asset Value: Aker's net asset value rose to NOK 67.3 billion in 2025, up 22.4% for the year with an additional NOK 3.9 billion paid in dividends.

Shareholder Return: Total shareholder return reached nearly 50%, reflecting strong portfolio performance and strategic decisions.

Dividend Outlook: The board proposes a NOK 29 per share dividend for 2026, with potential for an additional payout later in the year.

Portfolio Diversification: Significant progress in listed (up 28%) and unlisted (up 33%) holdings, with notable growth in technology, AI, and real estate platforms.

Cognite & AI: Cognite's revenue hit USD 164 million, ARR up 32% to USD 124 million, with over 70% of new bookings including Atlas AI.

Nscale Investment: Aker deepened its AI infrastructure exposure, acquiring a 9.3% stake in Nscale, valued at NOK 3.8 billion, with expansion underway in Norway.

Financial Strength: Aker maintains a strong liquidity buffer of NOK 5.9 billion and a value-adjusted equity ratio of 82%.

Key Financials
Net Asset Value
NOK 67.3 billion
Total Shareholder Return
nearly 50%
Dividend Income
NOK 6 billion
Listed Holdings Growth
28%
Unlisted Holdings Growth
33%
Dividend (Fourth Quarter)
NOK 2 billion
Cognite Revenue
USD 164 million
Cognite ARR
USD 124 million
Cognite Gross Margin
68%
Cognite Software Gross Margin
over 80%
Aize Recurring Revenue
over USD 14 million
Nscale Series B Funding
USD 1.1 billion
Nscale Series C Safe
USD 433 million
Listed Equity Investments (Q4)
NOK 57 billion
Dividend Income (Q4 from Listed Investments)
NOK 1 billion
Unlisted Equity Investments (Q4)
NOK 20 billion
Cash and Other Assets (Q4)
NOK 38 per share
Cash Balance (Q4 end)
NOK 0.8 billion
Gross Asset Value (fair value adjusted)
NOK 79.4 billion
Net Asset Value (fair value adjusted)
NOK 65.1 billion
Net Asset Value per Share (fair value adjusted)
NOK 876 per share
Value-adjusted Equity Ratio
82%
Liquidity Buffer
NOK 5.9 billion
Revolving Credit Facility
NOK 15 billion
Net Interest-bearing Debt (Q4 end)
NOK 9.7 billion
Loan-to-value Ratio
14%
Weighted Average Debt Maturity
2.9 years
Operating Expenses (Q4)
NOK 170 million
Profit Before Tax (Q4)
NOK 659 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Kjell Inge Røkke
Owner & Chairman
No Bio Available
Mr. Oyvind Eriksen
President & CEO
No Bio Available
Mr. Svein Oskar Stoknes
Chief Financial Officer
No Bio Available
Dr. Martin Bech Holte
Investment Director
No Bio Available
Mr. Fredrik Berge
Head of Investor Relations
No Bio Available
Ms. Charlotte Hakonsen
General Counsel
No Bio Available
Mr. Atle Kigen
Head of Media Relations & Public Affairs
No Bio Available
Mr. Torbjorn Kjus
Chief Economist
No Bio Available
Ms. Christina Chappell Glenn
Head of Corporate Communications & Investor Relations (Leave Of Absence)
No Bio Available
Mr. Kristian Monsen Rokke
Chief Executive Officer of Aker Horizon
No Bio Available

Contacts

Address
AKERSHUS
Lysaker
Oksenoyveien 10
Contacts
+4724130000.0
www.akerasa.com
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