Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr1,256, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 20x in the Industrials industry in Europe. Board Change • May 21
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 10 experienced directors. 2 highly experienced directors. 1 independent director (5 non-independent directors). Independent Director Kristin Margrethe Devold was the last independent director to join the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Mar 25
Aker Asa Proposes Cash Dividend for the Fiscal Year 2025, Payable on or About 5 May 2026 Aker ASA's Board of Directors has decided to propose to the Annual General Meeting on 22 April 2026, to pay an ordinary dividend to Aker's shareholders of NOK 29.00 per share for the fiscal year 2025, and that the Annual General
Meeting authorizes the Board to adopt an additional dividend during 2026 based on the 2025 annual accounts. Last day including right: 22 April 2026. Ex-date: 23 April 2026. Record Date: 24 April 2026. Payment date: On or about 5 May 2026. Aankondiging • Oct 14
Aker ASA and Nscale Global Holdings Ltd Appoints Kristian Røkke as Chief Executive Officer of Aker Nscale Aker and Nscale Global Holdings Ltd. have completed the closing of the 50/50% joint venture in Narvik, Northern Norway. The new company, "Aker Nscale", will deliver secure, scalable, and energy-efficient infrastructure tailored for sovereign AI workloads across Europe. Kristian Røkke has been appointed Chief Executive Officer of the new company. Aankondiging • Apr 30
Aker ASA Approves Cash Dividend for the Year 2024, Payable on or About 13 May 2025 The Annual General Meeting of Aker ASA held on April 30, 2025, approved to distribute a dividend of NOK 26.50 per share for 2024. The dividend is payable to shareholders holding shares in the Company as per 30 April 2025. The shares will be traded ex-dividend on Oslo Stock Exchange from and including 2 May 2025. The dividend will be paid on or about 13 May 2025. Aankondiging • Apr 25
Aker ASA Announces New Board Appointments, Effective 5 May, 2025 Aker ASA announced that Election of employee representatives to the Board of Directors of Aker ASA has been held and the result of the election is as follows: Torstein Engevik, Liv Hege Birkeland Løken, Marit Hargemark, Elisabeth Engelsen, Edith Bjerkan, Sigurd Andre Maraas, Inger S. Tjensvoll Vadset, Stian Sjølund and Tore Ness were elected as deputy directors. The employee representatives were elected with effect from 5 May 2025 for a period of two years. Aankondiging • Feb 14
Aker ASA Proposes Cash Dividend for the Fiscal Year 2024 The Board of Aker ASA has proposed a cash dividend of NOK 26.50 per share for the fiscal year 2024, to be disbursed in the second quarter of 2025. Consistent with the practice of previous years, the Board will also propose an authorization for an additional cash dividend to be distributed in the second half of 2025. Aankondiging • Nov 08
Aker ASA, Annual General Meeting, Apr 30, 2025 Aker ASA, Annual General Meeting, Apr 30, 2025. Aankondiging • Nov 06
Aker Asa Approves Cash Dividend for 2024, Payable on or About November 19, 2024 Aker ASA's Board of Directors has, based on the authorization approved by the General Meeting on 17 April 2024, decided to pay a cash dividend to Aker ASA's shareholders in the fourth quarter 2024 of NOK 35.50 per share (in total NOK 2.6 billion), based on the 2023 annual accounts. Last day incl. right is November 7, 2024. Ex-date is November 8, 2024. Record date is November 11, 2024. Payment date: On or about November 19, 2024. Date of approval: November 6, 2024. Aankondiging • Apr 17
Aker ASA Approves Ordinary Dividend for the Fiscal Year 2023, Payable on or About 29 April 2024 Aker ASA's Board of Directors at its Annual General Meeting on 17 April 2024, approved to pay an ordinary dividend to Aker's shareholders of NOK 15.50 per share for the fiscal year 2023, and that the Annual General Meeting authorizes the Board to adopt an additional dividend during 2024 based on the 2023 annual accounts. The dividend is payable to shareholders holding shares in the Company as per 17 April 2024. The shares will be traded ex-dividend on Oslo Stock Exchange from and including 18 April 2024. The dividend will be paid on or about 29 April 2024. Declared Dividend • Mar 29
Final dividend increased to kr15.50 Dividend of kr15.50 is 3.3% higher than last year. Ex-date: 18th April 2024 Payment date: 29th April 2024 Dividend yield will be 5.1%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 44% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 24
Full year 2023 earnings released: EPS: kr39.10 (vs kr196 in FY 2022) Full year 2023 results: EPS: kr39.10 (down from kr196 in FY 2022). Revenue: kr14.5b (down 45% from FY 2022). Net income: kr2.91b (down 80% from FY 2022). Profit margin: 20% (down from 55% in FY 2022). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Board Change • Mar 21
No independent directors There are 8 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 8 new directors. 1 experienced director. 3 highly experienced directors. No independent directors (7 non-independent directors). Director Kristin Margrethe Devold is the most experienced director on the board, commencing their role in 2007. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Aankondiging • Mar 21
Aker ASA Proposes Ordinary Dividend for the Fiscal Year 2023, Payable on or About 29 April 2024 Aker ASA's Board of Directors has decided to propose to the Annual General Meeting on 17 April 2024, to pay an ordinary dividend to Aker's shareholders of NOK 15.50 per share for the fiscal year 2023, and that the Annual General Meeting authorizes the Board to adopt an additional dividend during 2024 based on the 2023 annual accounts. Ex-date: 18 April 2024. Record Date: 19 April 2024. Payment date: On or about 29 April 2024. Board Change • Feb 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 08
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 25
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 05
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 06
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 29
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 23
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 02
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 18
Upcoming dividend of kr14.50 per share Eligible shareholders must have bought the stock before 25 April 2022. Payment date: 03 May 2022. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of British dividend payers (4.6%). Higher than average of industry peers (2.7%). Board Change • Apr 07
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 26
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 01
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 14
Director recently bought kr518k worth of stock On the 12th of November, Kristin Margrethe Devold bought around 590 shares on-market at roughly kr877 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Board Change • Nov 06
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 05
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Deputy Chairman Frank Reite was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 18
First half 2021 earnings released: kr8.91 loss per share (vs kr19.06 loss in 1H 2020) The company reported a decent first half result with reduced losses and improved control over expenses, although revenues were weaker. First half 2021 results: Revenue: kr3.13b (down 16% from 1H 2020). Net loss: kr662.0m (loss narrowed 53% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has remained flat. Executive Departure • May 02
Employee Representative Director has left the company On the 28th of April, Tommy Angelveit's tenure as Employee Representative Director ended after 4.0 years in the role. We don't have any record of a personal shareholding under Tommy's name. A total of 2 executives have left over the last 12 months. Upcoming Dividend • Apr 25
Upcoming dividend of kr11.75 per share Eligible shareholders must have bought the stock before 29 April 2021. Payment date: 07 May 2021. Trailing yield: 1.8%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (6.7%). Is New 90 Day High Low • Feb 11
New 90-day high: kr741 The company is up 67% from its price of kr442 on 12 November 2020. The British market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is down 1.0% over the same period. Is New 90 Day High Low • Dec 17
New 90-day high: kr526 The company is up 25% from its price of kr419 on 18 September 2020. The British market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Dec 01
New 90-day high: kr509 The company is up 27% from its price of kr401 on 02 September 2020. The British market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 
