Aker — Earnings Release 2015

Jul 17, 2015

Aker ASA: Second-quarter results 2015 - Net Asset Value of NOK 21.0 billion

Aker ASA: Second-quarter results 2015 - Net Asset Value of NOK 21.0 billion

The net asset value of Aker ASA and holding companies (Aker) rose 12.2 per cent

in the second quarter to NOK 21.0 billion, compared with first-quarter figures

after the allocation of cash dividend. Per-share net asset value (NAV) amounted

to NOK 282 as of 30 June 2015, compared to NOK 264 as per 31 March 2015.

"Despite turmoil in the markets, Aker performed well with a 12.2 per cent

increase in NAV," said Aker President and CEO Øyvind Eriksen. "We maintain a

strong cash position, we've created more value and we've de-risked our portfolio

further. Given the protracted downturn in the oil and gas sector, I am pleased

that the value of our Industrial Holdings portfolio rose 9.6 per cent in the

second quarter. It's a reminder of the value of having a balanced and

diversified portfolio of investments."

Cash holdings rose by NOK 169 million to NOK 3.0 billion in the second quarter,

primarily due to the placement of a NOK 1.0 billion bond issue and NOK 354

million received in dividend payments from the portfolio companies. Aker's cash

holding was reduced by the disbursement of NOK 399 million in dividend payment

to shareholders and the repayment of NOK 500 million in bank debt. Aker held NOK

374 million in liquid fund investments as per 30 June 2015.

The value of Aker's Industrial Holdings portfolio increased to NOK 20.4 billion

in the quarter, up from NOK 18.6 billion in the prior quarter. Aker's Financial

Investments portfolio amounted to NOK 8.2 billion, up from NOK 7.7 billion as of

31 March 2015.

The value-adjusted equity ratio was 73.4 per cent, after dividend payment and

share issue. This compares to 72.5 per cent as of 31 March 2015, prior to

dividend allocation.

The Aker share increased 1.4 per cent in the second quarter, adjusted for

dividend. This compares to 1.6 per cent increase in the Oslo Stock Exchange's

benchmark index ("OSEBX").

The income statement for Aker ASA and holding companies shows a pre-tax profit

of NOK 481 million for the second quarter, compared to a NOK 277 million profit

in the prior quarter.

The full report and presentation can be downloaded from www.akerasa.com .

END

Net asset value (NAV) is Aker ASA's core performance indicator. Aker is an

investment company with a majority of listed companies in its portfolio.

Therefore, NAV is a more relevant indicator of the development of Aker's

underlying value than the company's consolidated accounts.

For further information, please contact:

Media:

Atle Kigen, Head of Corporate Communications

Phone: +47 24 13 00 08

Mobile: +47 907 84 878

Investors:

Marianne Stigset, Head of Investor Relations

Phone: +47 24 13 00 66

Mobile: +47 41 18 84 82

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1939476]