Slide 1: Status & Outlook 3Q 2011
Agenda ▪ Status and outlook Proud ownership • Øyvind Eriksen, President and CEO ▪ Financials 3Q 2011 • Trond Brandsrud, CFO Status & Outlook ▪ Q&A 3Q 2011 07.11.2011 AKER ASA │3Q 2011 │Status & Outlook 2 1
Slide 2: Third quarter 2011 highlights and key financial indicators
Third quarter 2011 Aker ASA and holding companies Highlights Key financial indicators ▪ Net asset value: NOK 16.2 billion ▪ Industrial holdings NAV per share Net asset value • Aker Drilling shares were sold to Transocean (NOK) (NOK bn) - Aker received NOK 0.4 billion in the third quarter and 2.9 bil
Slide 3: This is Aker
Aker ASA This is Aker 68 per cent of investments related to oil and gas Ownership as of 30.09.2011 Seafood & Marine BioTech 8% Other 12% Industrial Financial Funds Holdings Investments Aker Solutions1 (28%) Cash Converto Capital Mgmt (90%) Cash 12% Kværner1 (29%) Receivables Oslo Asset Mgmt (50%) Oi
Slide 4: NAV changes in 3Q 2011
Aker ASA and holding companies NAV changes in 3Q 2011 This is Aker Distribution of assets 1 20,0 19,0 18,4 (2,9) 18,0 17,0 0,8 (0,2) (0,3) Industrial Financial 16,2 Funds 16,0 (0,5) 1,2 Holdings Investments (0,4) 15,0 See slide 9 See slide 11 See slide 10 14,0 1.2 b 1.5 b 13.89.5 bnbn 8.9 bn (42 %)
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 3Q 2011 performance: % of Aker ASA assets 3Q 2011 performance: Aker Solutions | NOK 4 391 million Investment portfolio | NOK 1 795 million • Value decrease of NOK 3 325 million since July 8 62% 9%
Slide 6: Overview of Aker assets: Financial Investments
Overview of Aker assets Financial Investments % of Aker ASA assets 3Q 2011 performance: NOK 2 331 million in cash • Down from NOK 2 765 million 29% • Received NOK 396 million as part payment for AKD • Invested NOK 776 million in Det norske Financial investments Long-term interest-bearing items (
Slide 7: Industrial holdings: 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: Industrial holdings: 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 bn
Slide 9: Industrial holdings: Aker Clean Carbon
Industrial holdings Aker Clean Carbon Provider of cost-effective CO2 capture technology and solutions Investment value of NOK bn. 0 0% % of gross asset value (30.09.11) Aker Key events Longannet in Scotland was cancelled Aker’s agenda Transfer from Industrial holdings to Financial Funds Projec
Slide 10: Funds: Overview and Converto Capital Fund
Funds Funds Overview Converto Capital Fund 3Q 2011 highlights ▪ Aker Seafoods/Norway Seafoods • Satisfactory results for harvesting • Weak profitability for marketing and processing • Investing NOK 770 million in renewal of the fleet Converto Capital Management Oslo Asset Management Norron Asset Man
Slide 11: Subsequent events and LeaseCo
«LeaseCo» Subsequent events ▪ Aker is establishing a new entity with: ▪ Aker Seafoods (AKS)/Norway Seafoods (NWS) • Long-term bareboat contracts for quality vessels • Converto increased its ownership interest share from 65.9% to 73.6% • Strong counterparties • Proposal to distribute NWS shares to AK
Slide 12: LeaseCo - First phase
«LeaseCo» - First phase American Shipping Aker Wayfarer Geco Triton Dhirubhai-1 Company • Bareboat charter • Bareboat charter • Bareboat charter • Exposure through with Aker Solutions with Schlumberger with Reliance to bond investment to to 2020 (Western Geco) to 2018 10 product tankers Dec 2015 on
Slide 13: Balance sheet and interest bearing debt and loan guarantees
Aker ASA and holding companies Aker ASA and holding companies Balance sheet Interest bearing debt and loan guarantees 31.03 30.06 30.09 (in NOK million) 2011 2011 2011 Interest bearing debt NOK mill Maturity Loan guarantees 1Q’11 2Q’11 3Q’11 Tangible and non-tangible fixed asset 310 299 299 Bond AKE
Slide 14: Income statement in 3Q 2011
Aker ASA and holding companies Aker ASA and holding companies Income statement Income statement in 3Q 2011 1 800 504 (366) 3Q 3Q YTD YTD 1 600 (in NOK million) 2010 2011 2010 2011 Sales gains - 145 - 145 1 400 (147) Operating expenses (46) (55) (146) (163) 104 (212) 1 200 1 047 10 EBITDA (46) 90 (14
Slide 15: Q&A: Well positioned for further transactions
Industrial Financial Funds Holdings investments Q&A Well positioned for further transactions 07.11.2011 AKER ASA │3Q 2011 │Status & Outlook 29 07.11.2011 AKER ASA │3Q 2011 │Status & Outlook 30 15
Slide 16: 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