Slide 1: Agenda: Status and outlook, Financials 4Q 2011
Agenda ▪ Status and outlook Proud ownership • Øyvind Eriksen, President and CEO ▪ Financials 4Q 2011 • Trond Brandsrud, CFO Status and outlook ▪ Q&A Q4 2011 29.2.2012 AKER ASA │4Q 2011 │Status & Outlook 2 1
Slide 2: Fourth quarter 2011 highlights and key financial indicators
Fourth quarter 2011 Aker ASA and holding companies Highlights Key financial indicators ▪ Net asset value: NOK 19.4 billion ▪ Industrial holdings NAV per share Net asset value • Solid operational performances in the fourth quarter (NOK) (NOK bn) • Det norske’s value increased on Johan Sverdrup oil di
Slide 3: This is Aker
Aker ASA This is Aker 61 per cent of investments related to oil and gas Seafood & Marine BioTech 7% Other 15% Industrial Financial Funds Holdings Investments E&P 26% Aker Solutions1 40% Cash Converto Capital Mgmt 90% Cash 17% Kvaerner1 41% Receivables Oslo Asset Mgmt 50% Oil and gas related 61% NOK
Slide 4: NAV changes in 4Q 2011
Aker ASA and holding companies NAV changes in 4Q 2011 This is Aker Distribution of assets 1 20,0 0,2 (0,0) 19,4 2,6 19,0 Industrial Financial Funds 18,0 Holdings Investments 0,2 (0,2) 0,5 See slide 9 See slide 11 See slide 10 17,0 16,2 16,0 1.2 b 1.5 b 15,0 31.12.10 10.29.5 bnbn (45 %) (48%) 8.9 bn
Slide 5: Overview of Aker assets: Industrial holdings and Funds
Overview of Aker assets Overview of Aker assets Industrial holdings Funds % of total Aker assets 4Q 2011 performance: % of Aker ASA assets 4Q 2011 performance: Aker Solutions | NOK 4 862 million Converto Capital Fund | NOK 803 million • Value increase of NOK 471 million (11%) • NOK 664 million d
Slide 6: Overview of Aker assets: Financial Investments
Overview of Aker assets Financial Investments % of Aker ASA assets 4Q 2011 performance: Cash 39% • NOK 3 952 million, up from NOK 2 331 million • Received NOK 2 859 million as final payment for AKD Bonds Financial investments • Invested NOK 726 million AMSC bond (NOK billion) Long-term interes
Slide 7: Aker Solutions and Kvaerner
Industrial holdings Industrial holdings Aker Solutions Kvaerner Global oil services company providing services, Specialized EPC company focused on realizing some of the technologies, product solutions and field life solutions world’s most demanding projects as the preferred partner Investment value
Slide 8: Det norske and Aker BioMarine
Industrial holdings Industrial holdings Det norske Aker BioMarine Second largest oil company on Norwegian continental Integrated biotech company – uniquely positioned for krill shelf in terms of exploration acreage and drilling harvesting and processing Investment value of Investment value of NOK 5.
Slide 9: Funds overview
Funds Overview Converto Capital Management Oslo Asset Management Norron Asset Management Aker owns 90 percent Aker owns 50.1 percent Aker owns 51 percent Aker Established in 2009 to manage Converto Specialized global long/short equity fund Four funds: Norron Target, Norron Select, Capita
Slide 10: Converto Capital Fund 4Q 2011 highlights
Funds Converto Capital Fund 4Q 2011 highlights ▪ Aker Seafoods/Norway Seafoods • Proposal to distribute NWS shares to AKS shareholders, OTC listing • AKS will be transferred to Aker’s Industrial holding portfolio in 1Q 2012 ▪ Aker Philadelphia Shipyard • USD 400 million contract with Exxon Mobil-own
Slide 11: Ocean Yield – rigged for growth
Ocean Yield – rigged for growth Ocean Yield – asset portfolio ▪ Aker has been working with a new structure for Aker’s marine assets ▪ The new company, Ocean Yield, is now established and is ready for American Shipping growth and expansion Aker Wayfarer Geco Triton Dhirubhai-1 Company • A defined str
Slide 12: Fornebuporten
Fornebuporten ▪ Aker entered an agreement with Fornebu Utvikling ASA to acquire 90,000 square meters of land plot for development at Fornebu for NOK 780 million ▪ Fornebuporten AS has been established to manage and develop the area Aker ▪ The company secured a NOK 440 million bank mortgage facility
Slide 13: Balance sheet and interest bearing debt
Aker ASA and holding companies Aker ASA and holding companies Balance sheet Interest bearing debt and loan guarantees 31.12 30.09 31.12 (in NOK million) 2010 2011 2011 Interest bearing debt NOK mill Maturity Loan guarantees 4Q’10 3Q’11 4Q’11 Tangible and non-tangible fixed asset 301 299 297 Bond AKE
Slide 14: Income statement in 4Q 2011
Aker ASA and holding companies Aker ASA and holding companies Income statement Income statement in 4Q 2011 100 4Q 4Q YTD YTD (in NOK million) 2010 2011 2010 2011 50 Sales gains - 1 046 - 1 191 Operating expenses (68) (62) (214) (225) 0 EBITDA (68) 984 (214) 966 Depreciation (4) (4) (15) (15) -50 (89
Slide 15: Well positioned for further growth / 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