DOCSLIB.ORG

Improving Human and Planetary Health

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Improving Human and Planetary Health AKER BIOMARINE IMPROVING HUMAN AND PLANETARY HEALTH ANNUAL REPORT 2020 AKER BIOMARINE IS A BIOTECH INNOVATOR AND ANTARCTIC KRILL-HARVESTING COMPANY, DEDICATED TO IMPROVING HUMAN AND PLANETARY HEALTH. CONTENTS 4 HIGHLIGHTS 5 2020 KEY FIGURES 13 CEO LETTER 15 THIS IS US 26 COVID HANDLING 28 OUR PRODUCTS 37 ENVIROMENTAL, SOCIAL, GOVERNANCE 50 FINANCE 4 2020 KEY FIGURES Aker BioMarine is a biotech innovator and Antarctic krill-harvesting company, dedicated to improving human and planetary health. Aker BioMarine’s fully transparent value chain stretches from sustainable krill harvesting in pristine Antarctic waters through its Montevideo logistics hub, Houston production plant, and to customers around the world. Admitted to trading on Euronext Growth, Aker BioMarine consists of two business segments, Ingredients and Brands. Under Ingredients, the company develops krill-based ingredients for human applications in the nutraceutical and dietary supplement space, and animal feed applications for aquaculture and pet food. Under Brands, Aker BioMarine has two companies, Lang Pharma Nutrition and Epion Brands. Lang Pharma Nutrition is a full service, mass market private label and corporate brand manufacturer within supplements, based in the U.S. with large U.S. retailers as its primary customers. Epion Brands has launched a consumer brand, Kori in the U.S. market, being on the shelves of major retailers. Aker BioMarine’s strong focus on sustainability inspired the launch of AION by Aker BioMarine, a circularity company dedicated to helping companies to recycle and reuse waste. PEOPLE PRODUCTS Women in 1.6 Executive billion doses of Superba Krill sold worldwide Gender Management balance Team 40 410 551 million extra servings of fish Number 24% Number of 40% of different 1.6 employees nationalities million dogs ate QRILL Pet that improves health and performance 65 countries receive Aker BioMarine products 5 REVENUE AND ADJUSTED EBITDA DEVELOPMENT REVENUE ADJUSTED EBITDA AND MARGIN 2018-2020 2018-2020 (USD million) 288.6 (USD million) 78 246.2 53 154.2 39 25.3% 21.5% 27.1% 2018 2019 2020 2018 2019 2020 6 THE PLANET AND AKER BIOMARINE 1% PRECAUTIONARY KRILL QUOTA IN AREA 48 2010-2025 CERTIFIED AS SUSTAINABLE BY MSC / MSC RECERTIFIED IN 2020 SFP “A” RATING SIX YEARS IN A ROW AWR SURPASSES USD 1 MILLION FOR ANTARCTIC SCIENCE PROJECTS ENHANCED VOLUNTARY COMMITMENT BY CLOSING 4500 KM2 TO PROTECT ANTARCTIC OCEAN ALL-YEAR AION IS ONE OF THREE NORWEGIAN COMPANIES WITH B-CORP CERTIFICATION AION IS PART OF THE 1% FOR THE PLANET INITIATIVE WHERE 1% OF THE COMPANY’S REVENUE IS DONATED TO CAUSES THAT ARE GOOD FOR NATURE 2,64 TONNES CO2 PER TONNE KRILL PRODUCED* *In previous years, we have reported tonne CO2 per tonne krill caught. For 2020 and going forward, we will report on tonne CO2 per tonne krill produced because it more accurately reflects our company operations. 7 8 KEY MILESTONES From stock listing to new product launches, here are some of the highlights from 2020. NOVEL PROTEIN CIRCULARITY COMPANY In early 2021, Aker Aker BioMarine launched BioMarine launched AION, a new company INVI™, a hydrolyzed that will use a capital light protein isolate with a and technology agnostic complete amino acid business model to offer profile, that is also rich products and services to in minerals, including companies with a desire to STOCK LISTING calcium and magnesium. BRAIN AND EYE HEALTH recycle waste and re-use materials. On July 6th, Aker Aker BioMarine launched BioMarine's shares were LYSOVETA™, a new admitted to trading on delivery platform based on Euronext Growth (previous LPC-bound EPA and DHA name was Merkur Market). from krill. This will open The Company will proceed up new opportunities and with a listing on the Oslo new large markets within Stock Exchange ("OSE") in the brain, eye and other April 2021. important health areas. 9 EXPANSION IN INDIA MSC RE-CERTIFICATION Aker BioMarine Aker BioMarine received continues to invest in its third consecutive India by establishing a certification with no new distribution hub conditions from the in Chennai, to keep the Marine Stewardship region well-stocked with Council (MSC) for its its QRILL Aqua products. sustainable Antarctic ANTARCTIC PROVIDER QRILL APPROVAL IN CHINA krill fishery following an Aker BioMarine celebrated Aker BioMarine obtained independent assessment. the launch of its new, market access to the Chinese The company was initially state-of-the-art support market for QRILL Aqua and certified in 2010, being the vessel at the ceremony at QRILL Pet. This was a very first krill company ever to CIMC Raffles’ Yantai yard. important milestone for the carry the MSC label. The vessel will replace commercial development of Aker BioMarine’s existing the Chinese market for support vessel, La Manche. QRILL products. 10 INDUSTRY ALLIANCE ANTARCTIC SCIENCE Aker BioMarine joined The Antarctic Wildlife forces with The Bellona Research Fund (AWR) Foundation, the Norwegian announced its 7th call for Seafood Federation and proposal and surpassed the six other major players milestone of USD 1 million in the fish feed industry devoted to Antarctic science to improve the climate projects since the launch of “A” RATING footprint of Norwegian PENGUIN PROTECTION the organization in 2015. For the sixth year in a row, the salmon. An NGO-industry krill fishery received an “A” collaboration to protect rating for its well-managed the Antarctic Ocean fishery from the Sustainable announced a big step Fisheries Partnership (SFP). forward with a year-round The independent report states closure of a 4 500km2 that the fish stocks are listed area of ocean around in “very good condition” and Hope Bay in the northern the Antarctic krill fishery is Antarctic Peninsula. This once again singled out as being is an enhancement of the particularly well-managed. ARK seasonal closures established in 2018. 11 DOG HEALTH SHRIMP HEALTH A new study with 20 A new study demonstrated Alaskan Huskies showed that astaxanthin krill oil that the dogs that received can result in a significant QRILL Pet AstaOmega Oil advantage for the Pacific experienced a significant whiteleg shrimp in the increase in their levels of post-larval stage. Through EPA and DHA, ensuring the use of growth- KRILL HEALTH BENEFITS overall health of dogs. SALMON HEALTH enhancing astaxanthin A new study by Aker The Norwegian Institute krill oil in the post-larval BioMarine, in partnership of Food, Fisheries and diet, the production cycle with the Oslo University Aquaculture (Nofima), in can be shortened, and Hospital, showed that collaboration with Aker mortality reduced, even the consumption of krill BioMarine, released a under stressful conditions. oil prior to endurance study that reveals that competitions increases krill meal improved the levels of circulating welfare and fillet quality of choline and its metabolites the salmon. in athletes. 12 One important aspect of Aker BioMarine’s culture is “Can do and grind through”. We saw this element of our strong culture in action during the pandemic, as all employees rolled up their sleeves and pushed through until our shared targets were met. - Matts Johansen CEO, Aker BioMarine 13 2020 WAS A TRUE “CAN DO AND GRIND THROUGH” YEAR Record year despite Covid-19 and operational challenges he year 2020 may well be remembered Our at-sea crew originates from locations A YEAR OF INNOVATIONS to more sustainable operations, we plan to as one of the most challenging years in around the world, and border closures and continuously raise the bar. Aker BioMarine 2020 was also the year in which two of recent history, but for Aker BioMarine, limited flight availability represented a real intends to be a frontrunner in setting T our innovations that had been under last year marked another record year. We challenge to our ability to transport people. a sustainability agenda in cooperation development were finally ready to be grew our topline by 17% to USD 289 million Thanks to a strong collaborative effort across with partners. We are launching our new revealed. At Aker BioMarine, innovation and we grew our adjusted EBITDA by 47% to the company, one that put people first in ESG platform including new, ambitious, is deeply anchored in our culture and our USD 78 million. At year-end, we clearly saw every decision, we succeeded in transferring industry-leading goals for sustainable processes, and in 2020, we gave the world a the results of what we in Aker BioMarine call our crew and keeping our vessels free of operations. These goals will help us to taste of that innovative power. During the ‘operational leverage’, meaning that since infection. While these efforts came with continue our mission to improve human and year we launched LYSOVETA, a new molecule most of our costs are fixed, topline growth significant costs and responsibilities beyond planetary health, as well as to show the way that delivers EPA and DHA through the enables our profitability to grow even faster. the ordinary, our employees proved their and inspire other businesses. blood brain barrier, designed to positively For us, growth always has been a key focus, dedication and passion for what we do as impact cognitive and eye health. With and it will continue to be so in the years to a company by both upholding the strict our pole position, our competitive cost STRONG CULTURE ENSURING TARGET come. quarantine rules and being flexible with the profile, strong IP estate and an enormous FULFILMENT 2020 was also a year of learning and length of their stay at-sea. addressable market, we are looking at the One important aspect of Aker BioMarine’s overcoming challenges for Aker BioMarine, Our harvesting operation also faced its biggest opportunity since the start of Aker culture is “Can do and grind through”. This specifically related to the Covid-19 share of challenges in 2020.
Load more

Recommended publications
  • Annual Report 2020.Pdf
    Annual Report 2020 The time for change is now. #PowerTheChange #PowerTheChange The time for change is now. In our common quest to create a cleaner, safer Content and more sustainable future, we must take ownership and accountability. Key figures 3 Where we are 6 Highlights 7 CEO Introduction 8 Board of Directors' Report 10 Consolidated Financial Statements 25 Parent Company Financial Statements 104 Independent Auditor's Report 121 Alternative Performance Measures 126 3 AKER SOLUTIONS ANNUAL REPORT 2020 KEY FIGURES MENU Key figures* 2020 2019 ORDERS AND RESULTS Order backlog December 31 NOK million 37,979 33,083 Order intake NOK million 34,163 26,155 Revenue NOK million 29,396 38,163 34,163 29,396 EBITDA NOK million 1,539 2,711 ORDER INTAKE REVENUE EBITDA margin Percent 5.2 7.1 NOK million NOK million EBITDA margin ex. special items Percent 4.3 7.3 EBIT NOK million -776 988 EBIT margin Percent -2.6 2.6 1,539 5.2 EBIT margin ex. special items Percent -0.2 3.6 Net income NOK million -1,520 283 EBITDA EBITDA MARGIN NOK million Percent CASHFLOW Cashflow from operational activities NOK million 501 360 BALANCE SHEET 4.3 -776 Net interest-bearing debt NOK million -456 -986 EBITDA MARGIN EBIT Equity ratio Percent 29.5 32.2 EXCL. SPECIAL ITEMS NOK million Percent Liquidity reserve NOK million 8,171 8,883 SHARE Share price December 31 NOK 16.45 n/a* Basic earnings per share NOK -3.13 0.49 -2.6 -0.2 EBIT MARGIN EBIT MARGIN EXCL.
    [Show full text]
  • Corporate Responsibility Report 2016 2 Corporate Responsibility in Aker Asa 2016
    CORPORATE RESPONSIBILITY REPORT 2016 2 CORPORATE RESPONSIBILITY IN AKER ASA 2016 CONTENT 1. ACTIVE AND RESPONSIBLE OWNERSHIP 3 Aker’s corporate responsibility 4 Priorities and results in 2016 5 2. SOCIETY Creating value for society 6 The first 21 Aker Scholars 7 3. PEOPLE People create Aker 9 The Aker model globally 11 4. INTEGRITY Zero tolerance for corruption 12 Open dialogue 13 5. ENVIRONMENT Aker takes responsibility for the environment 14 Putting climate problems on the agenda 16 Sustainability enhances competitiveness 17 6. PRIORITIES AND OBJECTIVES FOR 2017 Profitable and forward-looking companies 18 Akers priorities and objectives for corporate responsibility 2017 19 The Aker cooperation model was on the agenda at the Global Works Council’s meeting in 2016. Employee representatives from Europe, Brazil and India attended the meeting together with the CEOs of Aker, Aker Solutions and Akastor. CORPORATE RESPONSIBILITY IN AKER ASA 2016 3 ACTIVE AND RESPONSIBLE OWNERSHIP Aker ASA (Aker) exercises active ownership with a view to creating value for its shareholders and society at large. Directly or indirectly, Aker is the largest Aker’s Code of Conduct is the com- achieve results is as important as the shareholder in eight companies listed pany’s governing document setting actual results. Each company’s board of on the Oslo Stock Exchange. The major- out ethical guidelines for employees directors is responsible for regular re- ity on the respective boards of the eight and partners, and principles relating sult assessment and evaluation. listed portfolio companies have no ties to workers’ rights, human rights anti- to Aker. Aker’s management follows up corruption, societal conditions, health, Aker’s investment team, including the the investments with the backing of an the environment and safety (HSE), and legal department, is responsible for the analytic, dedicated investment team.
    [Show full text]
  • Annual Report 2020 Contents
    ANNUAL REPORT 2020 CONTENTS LETTER FROM THE CEO 4 BOARD OF DIRECTORS 44 KEY FIGURES 2020 8 EXECUTIVE MANAGEMENT TEAM 48 HIGHLIGHTS 2020 10 BOARD OF DIRECTORS’ REPORT 52 THE VALHALL AREA 16 REPORTING OF PAYMENTS TO GOVERNMETS 72 IVAR AASEN 20 BOD’S REPORT ON CORPORATE GOVERNANCE 74 THE SKARV AREA 24 FINANCIAL STATEMENTS WITH NOTES 88 THE ULA AREA 28 THE ALVHEIM AREA 32 JOHAN SVERDRUP 36 THE NOAKA AREA 40 COMPANY PROFILE Aker BP is an independent exploration and production Aker BP is headquartered at Fornebu outside Oslo and has company conducting exploration, development and produ- offices in Stavanger, Trondheim, Harstad and Sandnessjøen. ction activities on the Norwegian continental shelf (NCS). Aker BP ASA is owned by Aker ASA (40%), bp p.l.c. (30%) Measured in production, Aker BP is one of the largest and other shareholders (30%). independent oil and gas companies in Europe. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula The company is listed on the Oslo Stock Exchange with and Tambar, a partner in the Johan Sverdrup field and holds ticker “AKRBP”. a total of 135 licences, including non-operated licences. As of 2020, all the company’s assets and activities are based in Norway and within the Norwegian offshore tax regime. OUR ASSETS arstad AND OFFICES andnessen ar Trondei lei orne taaner ar asen oan erdrp operated inor laTaar alallod · ESG IN AKER BP SUSTAINABILITY REPORT 2020 Aker BP’s Sustainability report 2020 describes the ESG in Aker BP company’s management approach and performance to environment, social and governance.
    [Show full text]
  • Aker Asa Fourth-Quarter and Preliminary Annual Results 2019
    Q4 2019 AKER ASA FOURTH-QUARTER AND PRELIMINARY ANNUAL RESULTS 2019 Aker ASA Fourth-quarter and preliminary annual results 2019 2 Highlights Key figures - Aker ASA and holding companies Key events The net asset value (“NAV”) of Aker ASA and holding companies The Johan Sverdrup field started production in the fourth quarter (“Aker”) ended at NOK 50.0 billion in the fourth quarter, up 16 per and has already ramped up production to well above 300,000 cent from NOK 43.1 billion at the end of the third quarter, and up barrels per day and is on track to reach 440,000 barrels per day 24 per cent dividend adjusted from NOK 41.7 billion at year-end by the summer. 2018. The per-share NAV amounted to NOK 673 as per 31 December 2019, compared to NOK 580 as per 30 September Aker BP moved into Phase 2 of the Ærfugl project, and first oil 2019 and NOK 562 as per 31 December 2018. was produced from the Valhall Flanke West, where Aker BP is the operator. Aker Solutions and Kvaerner are engaged in both The Aker share increased 12.3 per cent in the fourth quarter. This projects through the successful alliance model. compares to a 5.1 per cent increase in the Oslo Stock Exchange’s benchmark index (“OSEBX”). The Aker share Kvaerner signed a NOK 1.5 billion contract with Equinor for development of the Hywind Tampen project, the world’s largest increased 22.5 per cent in 2019, including dividend paid. This compares with a 16.5 per cent increase in the Oslo Stock floating offshore wind farm.
    [Show full text]
  • Personal Reflections
    8 Personal reflections In 2013, we – the shareholders in Aker – became NOK 2 billion richer, measured in net asset value and paid dividends. My goal was to double Aker’s net asset value, including dividends, in five years. The result was a 50 percent increase in the period from 1 January 2009 to 31 December 2013. Aker grew on average by 8.8 per cent per year period. The OSEBX achieved 18 the OSEBX companies. During the same main Oslo Stock Exchange index. However, year during the period, while my target was per cent. period, Aker’s net asset value increased the performance behind the figures varies 15 per cent. ■ The development of our share price from NOK 250 to NOK 332 per share and considerably. I can only quote cross­country skier Pet­ this past year: In 2013 alone, the Aker dividends totalling NOK 46 per share were Aker Solutions has been the strongest Beskjæres 76 mm fra venstre før trykk >> ter Northug Jr. who, after failing to win a share generated a return of 10 per cent, paid. My aim was to exceed NOK 500 per value driver during the period: the return on medal at the Sochi Winter Olympics, com­ while OSEBX rose by 24 per cent. Net share, including dividends, in five years. Aker’s holdings in Aker Solutions shares mented: “I felt I was in good shape, but I asset value per share increased by 3.5 In other words, in five years, NOK 250 of has on average increased by 40 per cent didn’t win the gold.” per cent in 2013, and dividends paid to shareholder value in Aker has been turned annually (IRR).
    [Show full text]
  • Aker ASA ESG Report 2019 3
    ESG REPORT 2019 E Environmental We are committed to being part of the solution § Using our role as an active, responsible owner § Being a driving force to reduce negative environmental impact from operations of our portfolio companies § Making the Norwegian Continental Shelf a benchmark for safe, sustainable and profitable oil and ESG gas production S Social We are committed to our employees and communities § Investing in health and wellness of our employees § We are committed to supporting and having a positive impact on our local communities, e.g. through Aker Scholarship and Stiftelsen VI § Zero tolerance for discrimination, harassment and degrading treatment of employees G Governance We are committed to good governance Contents § Based on best practice recommendations from Oslo Stock This ESG report provides an account of the Exchange and NUES processes and structures Aker has in place § Code of Conduct as governing to support our commitment to ESG issues. document with expected alignment throughout the portfolio § Regular risk reviews by the Board, Message from our CEO 3 including environmental and climate-related risks Our company 4 § Ensuring employee representation in Aker’s boardroom and in Our Approach to ESG 6 the boardrooms of all portfolio Commitment to environmental companies responsibility 8 Commitment to social responsibility 1 1 Commitment to good governance 14 Portfolio overview 18 TCFD report 24 Aker ASA ESG report 2019 3 ESG considerations are core premises for our business and investment decisions. We are simultaneously respectful about the fact that when the world is back to normal it will need more energy going forward. A question we ask ourselves is how oil and gas are being produced.
    [Show full text]
  • Prospectus Aker Solutions
    Aker Solutions ASA, Prospectus of 22. December 2009 Registration Document_____________________________________________________ Prospectus Aker Solutions ASA 8.70% Aker Solutions ASA FRN Aker Solutions ASA Open Bond Issue 2009/2014 Registration Document Joint bookrunners: Oslo, 22. December 2009 1 Aker Solutions ASA, Prospectus of 22. December 2009 Registration Document_____________________________________________________ Important information The Registration Document is based on sources such as annual reports and publicly available information and forward looking information based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for the Company's (including subsidiaries and affiliates) lines of business. Important factors that could cause actual results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be major markets for the company's businesses, market acceptance of new products and services, changes in governmental regulations, interest rates, fluctuations in currency exchange rates and such other factors as may be discussed from time to time in the Registration Document. Although it is believed that the expectations are based upon reasonable assumptions, the Borrower can give no assurance that those expectations will be achieved or that the actual results will be as set out in the presentation. Neither the Arrangers and Co-Arranger nor the Borrower are making any representations or warranty, expressed or implied, as to the accuracy, reliability or completeness of the Registration Document, and neither the Arrangers and Co-Arranger the Borrower, nor any of its directors, officers or employees will have any liability to you or any other persons resulting from your use.
    [Show full text]
  • Aker ASA Third-Quarter Results 2019
    Proud ownership Aker ASA Q3 Third-quarter results 2019 2019 1 November 2019 Highlights Third quarter: ▪ Net asset value: NOK 43.1 billion, down from NOK 44.8 billion in second quarter ▪ Return: Aker share down 1.4 per cent to NOK 484 ▪ Liquidity reserve: NOK 5.2 billion, cash amounted to NOK 2.7 billion Key events: ▪ Kværner: Established two new business areas; FPSO and Renewables, to grow operations ▪ Ocean Yield: Successfully completed a perpetual hybrid bond issue of USD 125 million, carrying coupon of 3-month LIBOR + 6.50 per cent p.a. ▪ Aker: Launched the Centre for the Fourth Industrial Revolution (C4IR) Norway together with the World Economic Forum ▪ Aker BP: In October, the Johan Sverdrup field came on stream more than two months ahead of schedule and NOK 40 billion below budget ▪ Aker Solutions: In October, launched its "20-25-30" strategy whereby revenue from renewables is targeted to represent as much as 20 per cent of revenues, and low-carbon solutions as much as 25 per cent of revenues by 2030 ▪ Aker: In October, signed a Memorandum of Understanding with Saudi Aramco for a strategic partnership on industrial digitalization and sustainability initiatives ▪ Aker Energy: In October, changed its strategy in Ghana to de-risk the Pecan development within the frames of the current petroleum agreement and only with tie-ins already identified 1 November 2019 AKER ASA | Third-quarter results 2019 2 Aker ASA and holding companies 7.3% return on NAV YTD including paid dividend, -3.8% return in 3Q Net asset value change YTD 2019 Net asset value change in 3Q 2019 NOK billion NOK billion 4Q18 41.7 2Q19 44.8 Aker BP 5.6 Aker BP 0.5 Ocean Yield (0.3) Ocean Yield (0.4) Aker Solutions (1.4) Aker Solutions (1.0) Kvaerner 0.0 +3% Kvaerner (0.2) -4% Akastor (0.2) Akastor (0.1) Dividend paid (1.7) Dividend paid 0.0 Other (0.7) Other (0.5) 3Q19 43.1 3Q19 43.1 1 November 2019 AKER ASA | Third-quarter results 2019 3 Aker ASA and holding companies Share price up 9.6% Q3-YTD dividend adjusted - strong balance sheet NAV per share vs.
    [Show full text]
  • Registration Document
    Registration Document AKER ASA Senior Unsecured Bond Issue 2015/2020 ISIN: NO 0010737158 Date: 30 June 2015 Joint Lead Managers: DNB Markets Nordea Markets Pareto Securities Registration Document IMPORTANT INFORMATION The Registration Document has been prepared in connection with listing of the bonds at Oslo Børs. This Registration Document is subject to the general business terms of the Lead Managers. Confidentiality rules and internal rules restricting the exchange of information between different parts of the Lead Managers may prevent employees of the Lead Managers who are preparing this document from utilizing or being aware of information available to the Lead Managers and/or affiliated companies and which may be relevant to the recipient's decisions. The Lead Managers and/or affiliated companies and/or officers, directors and employees may be a market maker or hold a position in any instrument or related instrument discussed in this Registration Document, and may perform or seek to perform financial advisory or banking services related to such instruments. The Lead Managers’ corporate finance department may act as manager or co-manager for the Company in private and/or public placement and/or resale not publicly available or commonly known. Copies of this Registration Document are not being mailed or otherwise distributed or sent in or into or made available in the United States. Persons receiving this document (including custodians, nominees and trustees) must not distribute or send such documents or any related documents in or into the United States. Other than in compliance with applicable United States securities laws, no solicitations are being made or will be made, directly or indirectly, in the United States.
    [Show full text]
  • Third-Quarter Results 2014 6 November 2014 Third-Quarter Results 2014
    Third-Quarter Results 2014 6 November 2014 Third-Quarter Results 2014 Key events 3Q 2014 Revenue NOK million 5 096 z Demerger completed, listed on Oslo 4 234 Stock Exchange as Akastor ASA (AKA). z New organization and governance model established 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 z Aker Wayfarer: Secured 5-year contract of NOK 3 billion with Petrobras EBITDA z NOK million 852 Skandi Santos: Secured 5-year contract extension of NOK 2.5 billion with Petrobras 354 z Challenging rig market for MHWirth, but stable after-market activity 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 z Net interest bearing debt of NOK 3.6 billion, of which NOK 1.4 billion Capital Employed related to re-classification of Aker NOK million Wayfarer 12 949 11 886 z EBITDA of NOK 228 million, ex reversal of provision of NOK 624 million 3Q 13 4Q 13 1Q 14 2Q 14 3Q 14 Share price 29.09 - 05.11 26 23 20 2 Akastor ASA - Third-Quarter Results 2014 “Akastor established as an oilfield services investment company” Akastor ASA (Akastor) has operated as an oilfield services investment company since September 29th 2014, following the split of Aker Solutions ASA into two separate companies. Key management positions have been filled and the organisational structures and governance models are in place. Establishment of revised value creation plans for each portfolio company is underway, with a mandate to maximize long-term shareholder value. The third quarter EBITDA of NOK 852 million were significantly impacted by a reclassification leading to a non-cash reversal of a provision of NOK 624 million on the Aker Wayfarer, as well as a number of non-recurring items related to the demerger.
    [Show full text]
  • Aker's 175 Anniversary
    Aker“Aker’s’s 175 175thth anniversary” -- An insight iintonto Aker’Aker´ss DNADNA andand important important events events f fromrom thethe ppastast 2525 Yearsyears Fredrik Raak Dahl SVPRO 4000 -Prosjektforum Sofia Ellen Davidson Mira Sofie H.Iversen 2015 Silje Ingeborg Nordstad Camilla H.Riibe EXECUTIVE SUMMARY Survival is not about being one of many, it is about respecting your legacy, being able to see opportunities when they arise and dare to take a risk where no else does. ! ! In 2016 Aker will be celebrating its 175th anniversary. This report is written in association with this celebration. Its main purpose is to highlight important events that have occurred over the past 25 years. What events are considered to be important? How have these events influenced the environment and Aker’s future? This is what we have attempted to answer in our report. We chose a snowball method which means we performed a few preliminary interviews that guided us to our next interview subjects. After analysing the data we collected from our interviews, combined with our literature, we ended up with several interesting findings. Our findings include: - Aker’s part in the development of the oil and gas industry in Norway - The growth of subsea - New ownership in Aker, an event that occurred in 1996-1997 - Fishing industry becomes a part of Aker’s portfolio in 1996 - Aker Maritime and Kvaerner merge and de-merge, this happened in 2002 and 2011 - Aker ASA goes in a new direction from 2009 - An acquisition in Det norske takes place, and Aker Exploration merges with Det norske 2009 - Ocean Yield is established in 2012 ! We have analysed these events and areas of importance, and attempted to establish how they have impacted Aker’s future and its environment.
    [Show full text]
  • Dividend Yield Strategies in Times of Increasing Interest Rates
    Dividend Yield Strategies in Times of Increasing Interest Rates An Examination of the Norwegian Stock Market Copenhagen Business School M.Sc. in Applied Economics and Finance Master’s Thesis Nikolai Esse Berge Erik Eugen Voll Didriksen 116561 115640 Supervisor: Michael Ahm 15.05.2019 Characters: 216,211 Pages: 108 Abstract I ___________________________________________________________________________ Abstract The current macro-economic conditions, with historically low interest rates, have created problems for investors to achieve risk-free inflation protected returns. In this environment, dividend yield strategies, such as “Dogs of the Dow” which this thesis is based on, have become increasingly attractive to yield-seeking investors. Previous research on this topic has concluded with various results. On these grounds, the aim of this thesis is to examine a high dividend yield strategy in the Norwegian stock market, on an absolute and risk-adjusted level. Further, a particular focus on periods with increasing and decreasing interest rates are more distinctly investigated. In order to control for different risk factors, such as market, size, value and momentum in our returns, a Carhart (1997) model is applied. A dividend risk factor will also be constructed to identify if there is a general dividend premium in the Norwegian market. Throughout the examination period from 2002 until 2019, our high dividend yield portfolio has significantly outperformed the benchmark index. After estimating the expected returns, adjusted for risk with the Carhart four-factor model, the high dividend yield portfolio still achieve positive abnormal returns, with a yearly average of 4.81%. Cyclical attributes are found in the portfolio, suggesting the superior returns to be dependent on a bull market.
    [Show full text]