Slide 1: Status and Outlook 3Q 2010
The preferred partner AKER ASA Aker Status and Outlook 3Q 2010 Øyvind Eriksen, President & CEO Trond Brandsrud, CFO Oslo, 4 November 2010 Aker ASA Agenda Status and outlook • Øyvind Eriksen, President and CEO Financials 3Q 2010 • Trond Brandsrud, CFO Q&A Active industrial ownership 3Q2010 | St
Slide 2: Highlights and Key indicators
Highlights Strategic Aker ASA on track with development of investment portfolio companies: • Aker Solutions: Focusing competencies, sale of Aker Marine Contractors in October • Aker BioMarine: Partnership with Lindsay Goldberg for pharmaceutical activities • Aker Seafoods: Split into harvesting an
Slide 3: This is Aker
This is Aker Industrial Financial Funds Holdings Investments Aker Drilling (100 %) Cash Converto Capital Mgmt (90%) Aker Solutions 1(24 %) Receivables Oslo Asset Mgmt (50.1%) Det norske1 (40 %) Other Financial Investments Norron Asset Mgmt2 (51%) Aker BioMarine 1(83 %) Aker Clean Carbon (50 %) Owner
Slide 4: Overview of Aker assets: Industrial holdings and Funds
Overview of Aker assets Industrial holdings Aker Solutions • Value increase of 18.6 per cent • Adjusted for put/call option -0.8 bn Aker Drilling AKSO AKSO 4.1 bn 4.9 bn 4.9 bn • Book value (not listed) Det Norske 48% 10.4 bn • Value increase of 10.7 per cent Aker BioMarine AKD AKD • Value r
Slide 5: Overview of Aker assets: Financial Investments
Overview of Aker assets Financial Investments Cash Cash 2.7 bn 2.5 bn 2.3 bn Strong liquidity position Other • NOK 2.3 bn in cash, down Other Listed Bonds Listed Bonds from NOK 2.5 bn due to i.a. repayment of bond loans 39% 8.4 bn Long-term interest-bearing items Long-term Long-term int.bear. in
Slide 6: Industrial holdings: Aker Solutions and Aker Drilling
Industrial holdings Aker Solutions Global engineering & construction services, technology products and integrated solutions NOK bn Equity 4.9 23% Receivables 0.1 % of gross asset value Aker’s agenda (30.09.10) Contribute to strategy development for business Key events Q3 activities Aker Solution
Slide 7: Aker Drilling Contract Backlog and Det norske
Aker Drilling Contract Backlog USD 1.3 billion Aker Barents 2010 2012 2014 2016- 2 year Remaining value option fixed term as of 30 Aker Barents September 2010 USD 783 million Firm contract to July 2014 Aker Spitsbergen 5 x 2 year options Remaining value Aker Spitsbergen fixed term as of 30 September
Slide 8: Aker BioMarine and Aker Clean Carbon
Industrial holdings Aker BioMarine Integrated biotech company – uniquely positioned for krill harvesting and processing NOK bn Equity 0.9 4.0% % of gross asset value Aker’s agenda (30.09.10) Efficient operations and organic growth Key events Q3 Reinforce important value drivers: Partnership wi
Slide 9: Funds
The preferred partner AKER ASA Aker Funds Funds Company overview Converto Capital Management Oslo Asset Management Norron Asset Management Aker owns 90 percent Aker owns 50.1 percent Under establishment Established in 2009 to manage Converto Specialized global long/short equity fund Aker
Slide 10: Financials
Funds Converto Capital Fund Investments updates Aker Seafoods restructured into two separate companies; • Aker Seafoods (harvesting) • Norway Seafoods (marketing/processing) Aker Philadelphia Shipyard • Increased ownership from 50.3 to 67.1 per cent • Actively seeking new orders and capital to c
Slide 11: Balance sheet and Aker Drilling debt structure
Aker ASA and holding companies Balance sheet 31.12 30.06 30.09 (in NOK million) 2009 2010 2010 Tangible and non-tangible fixed asset 905 627 657 Long-term interest bearing items 7 051 6 114 5 844 Long-term financial assets 9 426 9 111 9 193 Other current assets 209 191 196 Short-term interest bearin
Slide 12: Interest bearing debt and put option against Aker ASA
Aker ASA and holding companies Interest bearing debt and commitments Interest bearing debt Other financial commitments NOK mill Maturity NOK mill Bond AKER 02 410 2012 Guarantee AKD bonds 1 500 Bond AKER 04 500 2012 Guarantee AKBM bonds 305 Sea Launch (guarantee) 244 2010 Bank debt 850 2014 Other gu
Slide 13: Profit and loss statement
Aker ASA and holding companies Profit and loss statement 3Q 3Q YTD YTD (in NOK million) 2009 2010 2009 2010 Sales gains - - 391 - Operating expenses (39) (46) (141) (146) EBITDA (39) (46) 250 (146) Depreciation (4) (4) (13) (11) Value change 30 72 (51) (962) Sea Launch guarantee liab. - - (776) - Ne
Slide 14: Q&A
Q&A Active industrial ownership 3Q2010 | Status and outlook | 27 Made by Norway © Aker ASA | November 2010 Active industrial ownership 3Q2010 | Status and outlook | 28 Made by Norway © Aker ASA | November 2010 14
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