Aker — Earnings Release 2014

Feb 27, 2015

Aker ASA Fourth-quarter and preliminary annual results 2014

Oslo | 27 February 2015

Aker ASA and holding companies

Balance sheet

Amounts in NOK million	31.12.2013	30.09.2014	31.12.2014
Intangible, fixed, and non-interest-bearing assets	237	273	262
Interest-bearing fixed assets	605	488	285
Investments	15 762	16 923	14 742
Non-interest-bearing short-term receivables	59	24	19
Interest-bearing short-term receivables	15	82	133
Cash	2 459	1 637	2 857
Total assets	19 137	19 427	18 299
Equity	12 417	12 347	10 341
Non-interest-bearing debt	1 320	486	1 257
Interest-bearing debt, internal	135	5	5
Interest-bearing debt, external	5 266	6 589	6 696
Equity and liabilities	19 137	19 427	18 299
Net interest bearing debt(-)/receivables(+)	(2 321)	(4 386)	(3 426)
Equity ratio	65%	64%	57%
Equity per share	171.7	170.7	142.9

Aker ASA and holding companies

Income statement

Amounts in NOK million	4Q 2013	3Q 2014	4Q 2014	Year 2013	Year 2014
Operating expenses	(70)	(63)	(52)	(236)	(223)
EBITDA	(70)	(63)	(52)	(236)	(223)
Depreciation	(4)	(4)	(4)	(14)	(15)
Non recurring operating items	-	-	38	-	1
Value change	(128)	(260)	(1 142)	252	(1 432)
Net other financial items	158	51	(85)	822	354
Profit before tax	(43)	(276)	(1 246)	825	(1 316)

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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 global economic conditions, the economic conditions of the regions and industries that are major markets for Aker ASA and Aker ASA's (including subsidiaries and affiliates) lines of business. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "believes", "estimates" or similar expressions. Important factors that could cause actual results to differ materially from those expectations include, among others, economic and market conditions in the geographic areas and industries that are or will be major markets for Aker's businesses, oil prices, market acceptance of new products and services, changes in governmental regulations, interest rates, fluctuations in currency exchange rates and such other factors as may be discussed from time to time in the Document. Although Aker ASA believes that its expectations and the Document are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved or that the actual results will be as set out in the Document. Aker ASA is making no representation or warranty, expressed or implied, as to the accuracy, reliability or completeness of the Document, and neither Aker ASA nor any of its directors, officers or employees will have any liability to you or any other persons resulting from your use.
• The Aker group consists of many legally independent entities, constituting their own separate identities. Aker is used as the common brand or trade mark for most of this entities. In this document we may sometimes use "Aker", "Group, "we" or "us" when we refer to Aker companies in general or where no useful purpose is served by identifying any particular Aker company.

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