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Industrial investor Aker Q3's NAV hits record on Aker BP gains

By Reuters News


Overview

  • Norway industrial investment firm's Q3 NAV rose to record high, driven by Aker BP gains

  • Company declared additional NOK 29.00/share dividend, bringing full-year payout to NOK 58.00/share

  • Company repurchased 565,000 shares for NOK 766 mln to settle Aker BioMarine merger


Outlook

  • Company expects Cognite sale to close in Q4, adding NOK 14.7 bln in proceeds

  • Company sees continued growth focus in AI infrastructure and real estate investments


Result Drivers

  • AKER BP MARKET VALUE - NAV growth mainly attributed to higher market value and dividends from Aker BP

  • ENERGY HOLDINGS - Co said energy holdings generated strong cash flows due to solid operations and tight oil and gas market

  • NSCALE CONTRACTS - Nscale doubled total contract value with new multi-year deals in US


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Asset Value

NOK 111.20 bln

Q3 Net Asset Value Per Share

NOK 1,510


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

  • Wall Street's median 12-month price target for Aker ASA is NOK1,582.50, about 41.3% above its November 3 closing price of NOK1,120.00

  • The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 17 three months ago


Reuters Recommended Reads

  • Nov 3 - Sweden's Flat Capital Q3 NAV falls as Klarna share decline weighs

  • Nov 3 - Ovintiv Q3 profit rises on higher energy prices, lower costs

  • Nov 2 - Freed from OPEC quotas, UAE says oil exports have risen as it hosts industry event


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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