Slide 1: Status & Outlook 2Q 2011
Agenda ▪ Status and outlook Proud ownership • Øyvind Eriksen, President and CEO ▪ Financials 2Q 2011 • Trond Brandsrud, CFO Status & Outlook ▪ Q&A 2Q 2011 17.08.2011 AKER ASA │2Q 2011 │Status & Outlook 2 1
Slide 2: First half-year 2011: Net Asset Value NOK 18.4 billion
First half-year 2011 Aker ASA and holding companies Net Asset Value: NOK 18.4 billion Key financial indicators ▪ Industrial holdings • NOK 1.8 billion invested in Aker Kværner Holding • Kværner spun off and listed on 8 July NAV per share Net asset value (NOK) (NOK bn) • Listing of Aker Drilling 320
Slide 3: This is Aker
Aker ASA This is Aker 65 per cent of investments related to oil and gas Ownership as of 30.06.11 Seafood & Marine BioTech 10% Other 12% Industrial Financial Funds Holdings Investments Aker Drilling1 (41%) Cash Converto Capital Mgmt (90%) Cash 13% Aker Solutions1 (28%) Receivables Oslo Asset Mgmt (50
Slide 4: NAV changes in 2Q 2011
Aker ASA and holding companies NAV changes in 2Q 2011 This is Aker Distribution of assets 1 21,2 (1,5) 21,0 Industrial Financial 20,0 (0,4) Funds (0,4) 0,1 19,1 (0,7) Holdings Investments 19,0 18,4 See slide 9 See slide 11 See slide 10 Net other finance and operating expenses 18,0 AKD– change in mar
Slide 5: Overview of Aker assets: Industrial holdings and Funds
Overview of Aker assets Overview of Aker assets Industrial holdings Funds 2Q 2011 performance: % of total Aker assets % of Aker ASA assets 2Q 2011 performance: Aker Solutions | NOK 8 341 million • Dividend received NOK 182 million Investment portfolio | NOK 1 966 million • Value decrease of NOK
Slide 6: Overview of Aker assets: Financial Investments
Overview of Aker assets Financial Investments % of Aker ASA assets 2Q 2011 performance: NOK 2 765 million in cash • Down from NOK 4 807 million 28% • Investment in Aker Kværner Holding: NOK 1 765 million • Dividend to shareholders: NOK 724 million Financial investments • Received dividend (AKSO) a
Slide 7: Aker Solutions and Kværner
Industrial holdings Industrial holdings Aker Solutions Kværner 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 o
Slide 8: Aker Drilling and Det norske
Industrial holdings Industrial holdings Aker Drilling Det norske Offshore drilling company with sophisticated drilling units Second largest oil company on Norwegian continental for harsh environment and ultradeep water markets shelf in terms of exploration acreage and drilling Investment value of In
Slide 9: Aker BioMarine and Aker Clean Carbon
Industrial holdings Industrial holdings Aker BioMarine Aker Clean Carbon Integrated biotech company – uniquely positioned for krill Provider of cost-effective CO2 capture technology and harvesting and processing solutions Investment value of Investment value of NOK bn. 1.6 NOK bn. 0.1 7% 0.7% % of g
Slide 10: 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 Three funds: Norron Target, Norron Select Capita
Slide 11: Converto Capital Fund and subsequent events
Funds Third quarter Converto Capital Fund Subsequent event 2Q 2011 highlights Det norske oljeselskap ▪ Aker Seafoods/Norway Seafoods ▪ August 8: A new major oil discovery was announced on • Improved harvesting, but weak profitability in processing the Aldous Major South prospect (PL 265) in the Nort
Slide 12: Subsequent event: Aker Drilling
Third quarter Subsequent event Aker Drilling ▪ The winter of 2009, Aker defined a 3-phase ownership agenda in Aker Drilling: 1. Complete construction of rigs 2. Demonstrate operational qualities 3. Explore transactional opportunities ▪ August 15: Aker sold a 5% ownership interest to Aker Transocean
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 31.03 30.06 (in NOK million) 2010 2011 2011 Interest bearing debt Loan guarantees NOK mill Maturity 4Q’10 1Q’11 2Q’11 Tangible and non-tangible fixed asset 301 310 299 Bond AKE
Slide 14: Income statement in 2Q 2011
Aker ASA and holding companies Aker ASA and holding companies Income statement Income statement in 2Q 2011 0 2Q 1H 2Q 1H (in NOK million) 2010 2010 2011 2011 -100 (50) Sales gains - - - - -200 Operating expenses (51) (100) (50) (108) -300 (503) EBITDA (51) (100) (50) (108) Depreciation (4) (8) (4) (
Slide 15: Q&A: Well positioned for further value creation
Industrial Financial Funds Holdings investments Q&A Well positioned for further value creation 17.08.2011 AKER ASA │2Q 2011 │ Financials 17.08.2011 AKER ASA │2Q 2011 │Q&A 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