Aker — Net Asset Value 2014

Jul 18, 2014

Aker ASA: Second-quarter results 2014 - Net Asset Value of NOK 24.2 billion

Aker ASA: Second-quarter results 2014 - Net Asset Value of NOK 24.2 billion

The net asset value of Aker ASA and holding companies (Aker) rose 5.5 per cent

in the second quarter to NOK 24.2 billion. Per-share net asset value (NAV)

amounted to NOK 334 as of 30 June 2014, compared to NOK 317 as per 31 March

"Aker delivered solid growth in the second quarter, increasing net asset value

by 10 per cent, adjusted for dividend," said Aker President and CEO Øyvind

Eriksen. "Furthermore, Aker reached important industrial and financial

milestones in the period. One was Det norske oljeselskap's acquisition of

Marathon Oil Norway. Another was the split of Aker Solutions into an integrated

subsea and field design champion and an oil services investment company. The

Marathon acquisition and the split of Aker Solutions are prime examples of how

Aker works as an active, long-term industrial owner."

Cash holdings were reduced by NOK 424 million to NOK 3.1 billion in the second

quarter, primarily due to the disbursement of NOK 940 million in dividend

payment to shareholders. In addition, Aker held NOK 708 million in liquid fund

investments as per 30 June 2014.

Aker received NOK 554 million in total dividend payments from its Industrial

Holdings and Financial Investments in the second quarter. Additionally, Aker

received NOK 420 million in capital repayment from Converto, which includes

proceeds from the sale of Stream announced in December 2013.

The value of Aker's Industrial Holdings portfolio advanced to NOK 22.1 billion

in the quarter, up from NOK 20.1 billion in the first quarter. Aker's Financial

Investments portfolio amounted to NOK 9.1 billion, compared to NOK 9.9 billion

in the prior quarter.

The value-adjusted equity ratio was 77 per cent, after dividend payment. This

compares to 76 per cent as per end of the first quarter 2014, prior to dividend

payment.

The Aker share gained 32 per cent in the second quarter, adjusted for dividend.

This compares to a 10 per cent advance 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 609 million for the second quarter, compared to a NOK 403 million loss 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 of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1829890]