Aker Asa Class A · OSL:AKER
Aker Asa Class A — Q1 2012 Earnings Presentation
15 slides from Aker Asa Class A's earnings presentation, May 16, 2012
Slide 1: First quarter results 2012
Agenda ▪ Highlights, Industrial Holdings 1Q 2012 Proud ownership • Øyvind Eriksen, President and CEO ▪ Financial Investments, Financial Statement 1Q 2012 • Trond Brandsrud, CFO First quarter results 2012 ▪ Q&A 16 May 2012 16 May 2012 AKER ASA │First quarter 2012 results 2 1
Slide 2: First quarter 2012 highlights and key financial indicators
First quarter 2012 Aker ASA and holding companies Highlights Key financial indicators Net asset value Financials: 350 (NOK bn) ▪ Net asset value: NOK 22.5 billion – highest since Q3 2008 300 30 ▪ Value-adjusted equity ratio 83.3% vs. 82% in Q4 2011 250 25 ▪ Cash increased to NOK 4.3 billion 200 Divi
Slide 3: This is Aker
Aker ASA This is Aker 67 percent of investments related to oil and gas Seafood & Marine BioTech 6% Other 10% Industrial Financial Holdings Investments E&P 22% Aker Solutions1 40% 7.4 4.9 4.3 4.0 Cash Cash 17% Kvaerner1 41% 1.3 0.7 0.8 1.7 Receivables Oil and gas related 67% NOK Det norske 50% 5.6 5.
Slide 4: NAV changes in 1Q 2012 and industrial holdings
Aker ASA and holding companies Overview of Aker assets NAV changes in 1Q 2012 Industrial holdings % of total Aker assets 1Q 2012 NAV: 24 (0,1) NOK million Value change Change in % 0,1 22,5 70% 23 0,5 2,6 22 Aker Solutions 7 441 2 580 53 21 Kvaerner 1 251 498 66 20 19,4 Industrial Holdings (NOK billi
Slide 5: Financial Investments
Overview of Aker assets Financial investments Financial Investments Fornebuporten as a development project % of total Aker assets 1Q 2012 performance: Cash Divestment (partly or 30% • NOK 4.3 billion, up from NOK 4.0 billion fully) Receivables • Conversion of NOK 1.8 billion shareholder Construc
Slide 6: Aker Solutions
Industrial holdings Aker Solutions Global oil services company providing services, technologies, product solutions and field life solutions Investment value of NOK 7.4 billion 29% Aker % of gross asset value (31.03.12) Key events Q1 1 Industrial holdings Aker’s view High tender and business develo
Slide 7: Kvaerner and Det norske
Industrial holdings Industrial holdings Kvaerner Det norske Specialized EPC oil and gas company Exploration & Production company on the Norwegian continental shelf Investment value of Investment value of NOK 1.3 billion NOK 5.6 billion 5% 22% % of gross asset value % of gross asset value (31.03.12)
Slide 8: Aker BioMarine and Ocean Yield
Industrial holdings Industrial holdings Aker BioMarine Ocean Yield Integrated biotech company – uniquely positioned for krill A marine assets company with a focus on offshore harvesting and processing vessels Investment value of Investment value of NOK 2.5 billion NOK 1.0 billion 10% 4% % of gross a
Slide 9: Aker Seafoods
Industrial holdings Aker Seafoods Leading trawl company with main focus on harvesting of whitefish Investment value of NOK 0.4 billion 2% % of gross asset value (31.03.12) Aker Aker’s view Fish resources off Norway considered good for cod Key events Q1 Spin-off of Norway Seafoods was completed F
Slide 10: Cash and receivables; Real estate (Receivables)
Financial investments Financial investments Cash and receivables Real estate (Receivables) Investment value of NOK Investment value of 5.1 billion excluding real NOK 0.7 billion 20% estate receivable 3% % of gross asset value % of gross asset value (31.03.12) (31.03.12) Key events Q1 Key events Q1
Slide 11: Fund investments
Financial investments Fund investments Investment value of NOK 1.2 billion 5% % of gross asset value (31.03.12) Aker Key events Q1 Value of Fund investments NOK 1.2 billion, after transferring Aker Seafoods to Industrial Holdings Financials Converto Capital Management’s assets under management s
Slide 12: Balance sheet; Interest bearing items and loan guarantees
Aker ASA and holding companies Aker ASA and holding companies Balance sheet Interest bearing items and loan guarantees 31.03 31.12 31.03 7 000 (in NOK million) 2011 2011 2012 6 000 Tangible and non-tangible fixed asset 310 297 285 5 000 Net interest bearing receivables NOK 2.8 billion Long-term inte
Slide 13: Income statement in 1Q 2012
Aker ASA and holding companies Aker ASA and holding companies Income statement Income statement in 1Q 2012 100 1Q 1Q Year (in NOK million) 2011 2012 2011 Sales gains - 47 1 191 50 Operating expenses (58) (65) (225) EBITDA (58) (18) 966 0 Depreciation (4) (4) (15) Value change 853 (49) 55 Net other f
Slide 14: Ocean Yield Group pro forma financial statements
Ocean Yield Group Pro forma financial statements In NOK million In NOK million Balance sheet 31.03.12 Income statement 1Q12 Property, plant and equipment 5 155 Operating revenue 263 Intangible assets 270 Operating expenses (46) Industrial Financial Bonds and restricted cash 917 EBITDA 217 Holdings i
Slide 15: Disclaimer
Disclaimer ▪ This Document includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. These statements and this Document are based on current expectations, estimates and projections about glo