Aankondiging • Feb 27
Aker Horizons ASA to Apply to the Oslo Stock Exchange for a Delisting of All its Shares from Euronext Oslo Børs The extraordinary general meeting of Aker Horizons ASA held on 26 February 2026, has adopted the resolution: "The Company shall apply to the Oslo Stock Exchange for a delisting of all its shares from Euronext Oslo Børs pursuant to the Oslo Rule Book II section 2.10.2". Aankondiging • Feb 26
Aker Horizons ASA Announces Election of Trond Brandsrud as Chair of the Board of Directors Aker Horizons ASA held an extraordinary general meeting as a digital meeting with online participation on February 26, 2026. The Extraordinary General Meeting resolved to reduce the number of directors from five to three, and to reduce the number of deputy members from two to one. Trond Brandsrud was elected as the new Chair of the Board of Directors. New Risk • Feb 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr30.9m (US$3.17m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr723m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings have declined by 21% per year over the past 5 years. Market cap is less than US$10m (kr30.9m market cap, or US$3.17m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). New Risk • Feb 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr723m free cash flow). Earnings have declined by 21% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (9.5% average weekly change). Market cap is less than US$100m (kr271.7m market cap, or US$28.2m). Aankondiging • Oct 02
Aker Horizons ASA Announces Step Down of Chief Executive Officer Lars Peder Sørvaag Sperre, Effective December 31, 2025 Aker Horizons ASA announced that Lars Peder Sørvaag Sperre will step down as Chief Executive Officer, effective December 31, 2025. The decision is made in agreement between Aker Horizons and Mr. Sperre. The Board of Directors will consider how the CEO role should be handled as part of the company's ongoing strategic process. The Board expresses its appreciation to Mr. Sperre for his contributions to the company in a period where material restructuring processes have been completed. New Risk • Sep 05
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 22% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr723m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 21% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr355.5m market cap, or US$35.4m). Price Target Changed • Jul 18
Price target decreased by 72% to kr1.80 Down from kr6.50, the current price target is provided by 1 analyst. New target price is 22% above last closing price of kr1.47. Stock is down 47% over the past year. The company posted a net loss per share of kr7.43 last year. Reported Earnings • Jul 16
First half 2025 earnings released: EPS: kr0.72 (vs kr5.14 loss in 1H 2024) First half 2025 results: EPS: kr0.72 (up from kr5.14 loss in 1H 2024). Revenue: kr8.00m (down 99% from 1H 2024). Net income: kr498.0m (up kr4.05b from 1H 2024). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 55% per year, which means it is performing significantly worse than earnings. New Risk • Jul 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr1.02b (US$99.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 35% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr1.02b market cap, or US$99.8m). Board Change • May 07
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 3 experienced directors. No highly experienced directors. Deputy Director Lene Landoey is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 04
Full year 2024 earnings released: kr7.42 loss per share (vs kr6.49 loss in FY 2023) Full year 2024 results: kr7.42 loss per share (further deteriorated from kr6.49 loss in FY 2023). Revenue: kr2.55b (down 30% from FY 2023). Net loss: kr5.13b (loss widened 14% from FY 2023). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has fallen by 62% per year, which means it is performing significantly worse than earnings. New Risk • Mar 07
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr3.5b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr3.5b free cash flow). Earnings have declined by 38% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (kr977.5m market cap, or US$90.2m). New Risk • Feb 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr1.12b (US$99.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 38% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (kr1.12b market cap, or US$99.3m). Aankondiging • Feb 13
Aker Horizons ASA Proposes Extraordinary Cash Dividend Aker Carbon Capture ASA (ACC) announced that the Board of Directors of the company has proposed an extraordinary cash dividend of NOK 3.5 billion, of which Aker Horizons is expected to receive approximately NOK 1.5 billion based on its 43.27% ownership in ACC. ACC's proposed cash dividend is among other things subject to approval by an extraordinary general meeting in ACC, expected to be held on or about 7 March 2025. Aankondiging • Nov 27
Aker Horizons ASA, Annual General Meeting, Apr 30, 2025 Aker Horizons ASA, Annual General Meeting, Apr 30, 2025. Price Target Changed • Nov 16
Price target decreased by 56% to kr6.50 Down from kr14.80, the current price target is an average from 2 analysts. New target price is 246% above last closing price of kr1.88. Stock is down 52% over the past year. The company posted a net loss per share of kr6.49 last year. Price Target Changed • Nov 11
Price target increased by 39% to kr20.50 Up from kr14.80, the current price target is an average from 2 analysts. New target price is 1,074% above last closing price of kr1.75. Stock is down 59% over the past year. The company posted a net loss per share of kr6.49 last year. New Risk • Nov 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Norwegian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 41% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (7.4% average weekly change). Board Change • Nov 01
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 2 experienced directors. No highly experienced directors. Deputy Director Lene Landoey is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Aankondiging • Sep 17
Aker Horizons ASA Announces Chief Executive Officer Changes Aker Horizons ASA announced that its Board of Directors has appointed Lars P. Sørvaag Sperre as its Chief Executive Officer effective from 1 October 2024. Mr. Sperre will succeed Kristian Røkke, whom Aker ASA will propose to the Nomination Committee of Aker Horizons to be appointed as Chairman of the Board at an Extraordinary General Meeting. Lars P. S. Sperre will assume the role as CEO, effective 1 October 2024. Mr. Sperre's experience includes a 17-year career at Norske Skog, including as SVP Corporate Strategy and CEO. He holds a law degree from the University of Bergen. Reported Earnings • Jul 17
First half 2024 earnings released: kr5.14 loss per share (vs kr5.22 loss in 1H 2023) First half 2024 results: kr5.14 loss per share (improved from kr5.22 loss in 1H 2023). Revenue: kr1.27b (up 25% from 1H 2023). Net loss: kr3.55b (loss narrowed 1.6% from 1H 2023). Price Target Changed • Jul 17
Price target increased by 35% to kr20.50 Up from kr15.23, the current price target is an average from 2 analysts. New target price is 604% above last closing price of kr2.91. Stock is down 50% over the past year. The company posted a net loss per share of kr6.49 last year. Price Target Changed • May 06
Price target increased by 35% to kr20.50 Up from kr15.23, the current price target is an average from 2 analysts. New target price is 519% above last closing price of kr3.31. Stock is down 57% over the past year. The company posted a net loss per share of kr6.49 last year. Reported Earnings • Mar 22
Full year 2023 earnings released: kr6.49 loss per share (vs kr4.08 loss in FY 2022) Full year 2023 results: kr6.49 loss per share (further deteriorated from kr4.08 loss in FY 2022). Revenue: kr3.85b (up 62% from FY 2022). Net loss: kr4.48b (loss widened 68% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 48% per year whereas the company’s share price has fallen by 53% per year. New Risk • Jan 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 49% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Share price has been volatile over the past 3 months (11% average weekly change). Aankondiging • Jan 11
Aker Horizons ASA Announces CFO Changes Aker Horizons ASA announced the appointment of Kristoffer Dahlberg as its Chief Financial Officer (CFO) with effect from 1 February 2024. Dahlberg will replace Nanna Tollefsen, who is stepping down due to family health matters. Tollefsen will continue as an executive in the Company. Dahlberg is currently the CFO of Aker Horizons Asset Development and has extensive experience throughout the Aker group, including as CFO of Aker Clean Hydrogen and VP Business Controlling at Aker BP. Prior to joining the Aker group, Dahlberg worked in management consulting and equity research. He holds an MSc in Finance from the Norwegian School of Economics (NHH). New Risk • Dec 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 13% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 49% per year over the past 5 years. Price Target Changed • Nov 19
Price target decreased by 17% to kr13.93 Down from kr16.75, the current price target is an average from 4 analysts. New target price is 253% above last closing price of kr3.94. Stock is down 72% over the past year. The company posted a net loss per share of kr4.08 last year. Aankondiging • Nov 01
Aker Horizons ASA, Annual General Meeting, Apr 17, 2024 Aker Horizons ASA, Annual General Meeting, Apr 17, 2024. Price Target Changed • Jul 17
Price target decreased by 15% to kr14.30 Down from kr16.75, the current price target is an average from 4 analysts. New target price is 154% above last closing price of kr5.63. Stock is down 64% over the past year. The company posted a net loss per share of kr4.08 last year. Reported Earnings • Jul 14
First half 2023 earnings released: kr5.37 loss per share (vs kr0.41 profit in 1H 2022) First half 2023 results: kr5.37 loss per share (down from kr0.41 profit in 1H 2022). Revenue: kr1.66b (up 61% from 1H 2022). Net loss: kr3.71b (down kr3.99b from profit in 1H 2022). Reported Earnings • May 03
First quarter 2023 earnings released: EPS: kr1.05 (vs kr0.23 in 1Q 2022) First quarter 2023 results: EPS: kr1.05 (up from kr0.23 in 1Q 2022). Revenue: kr29.0m (down 94% from 1Q 2022). Net income: kr725.0m (up 418% from 1Q 2022). Board Change • May 01
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 1 experienced director. No highly experienced directors. Deputy Director Lene Landoey is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Price Target Changed • Feb 17
Price target decreased by 10% to kr26.67 Down from kr29.67, the current price target is an average from 3 analysts. New target price is 105% above last closing price of kr13.02. Stock is down 22% over the past year. The company posted a net loss per share of kr3.54 last year. Aankondiging • Feb 02
Aker Horizons ASA to Report Q4, 2021 Results on Feb 11, 2022 Aker Horizons ASA announced that they will report Q4, 2021 results on Feb 11, 2022 Aankondiging • Jun 03
Aker Horizons Common Shares Deleted from Other OTC Aker Horizons ASA Common Shares have been deleted from Other OTC effective June 01, 2021 due to Other reason. Aankondiging • May 13
Aker Horizons ASA (OB:AKH) completed the acquisition of 75% stake in Mainstream Renewable Power Limited. Aker Horizons AS signed an agreement to acquire 75% stake in Mainstream Renewable Power Limited for approximately €760 million on January 19, 2021. Under the terms, Aker Horizons will pay a total consideration on a 100 percent basis of €900 million, subject to customary adjustments. The agreement includes an additional earn-out payment in 2023 of up to €100 million to selling shareholders based on meeting certain milestones. Existing Mainstream shareholders, led by founder and chairman Eddie O’Connor, will re-invest and retain 25% ownership. As part of the transaction, Aker Horizons will acquire 50% of superconducting technology company SuperNode. The transaction is fully financed through a bank facility of €510 million provided by DNB Bank ASA and Nordea Bank Apb, and funding from Aker for the remaining €248 million, including Aker Horizons’ share of €110 million in new equity injected. Aker Offshore Wind and Mainstream’s offshore business will remain separate entities. Mainstream will continue to operate under its existing brand, with founder Eddie O’Connor as Chairman and its current Chief Executive Officer, Mary Quaney, and management team. Kjell Inge Røkke, Øyvind Eriksen and Kristian Røkke will become board members. The transaction is subject to customary closing conditions, including regulatory approvals, local competition approvals and approvals from Mainstream’s creditors. As of February 26, 2021 the transaction was approved by The Competition Tribunal of South Africa. Transaction is expected to close in Q2 2021.
DNB Markets, Green Giraffe B.V. and Nordea Bank Norge ASA acted as financial advisors for Aker Horizons. Advokatfirmaet BAHR along with Tim Boxell, Oliver Moir, Gareth Miles, Samay Shah, Padraig Cronin of Slaughter and May acted as legal advisors to Aker Horizons AS. Blaize Vance, Neil Donald McKenzie, Dimitri Cavvadas, and Lesley Morphet of Fasken Martineau DuMoulin acted as a Regional Managing Partner at Mainstream Renewable Power. Johan Coetzee of Fasken Martineau DuMoulin acted as a Partner to Mainstream Renewable Power. Michael Honan and Jeremy Gewirtz of Linklaters acted as legal advisor to Mainstream Renewable Power. Neil Keenan, Gavin Blake, Michael Kennedy, Emmet Whelan, Liam Connellan, Darren Daly, Kelly Mackey and Philip O’Leary of ByrneWallace LLP acted as Irish legal advisor for Mainstream Renewable Power. John Given and Andreas McConnell of Philip Lee also acted as legal advisor to Mainstream Renewable Power. EY Ireland acted as due diligence provider for Mainstream.
Aker Horizons ASA (OB:AKH) completed the acquisition of 75% stake in Mainstream Renewable Power Limited on May 11, 2021. Executive Departure • Apr 24
Director has left the company On the 20th of April, Martin Holte's tenure in the role of Director ended. We don't have any record of a personal shareholding under Martin's name. Martin is the only executive to leave the company over the last 12 months. Recent Insider Transactions • Apr 09
Director recently bought kr83k worth of stock On the 7th of April, Kjell Rokke bought around 3k shares on-market at roughly kr33.19 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. Aankondiging • Feb 19
Aker Horizons Launches Aker Clean Hydrogen to Industrialize Clean Hydrogen and Reduce Co2 Emissions Globally Aker Horizons AS announces the launch of a new platform company, Aker Clean Hydrogen, a pure-play industrial clean hydrogen producer to serve a fast-growing global market. With a proven execution model and unique end-to-end asset integration and optimalization capabilities, Aker Clean Hydrogen aims to emerge as the most efficient hydrogen value chain integrator on a global scale. Aker Clean Hydrogen has a portfolio of nine clean hydrogen projects and prospects with a total net capacity of 1.3 GW under development, and additional pipeline and opportunities of 4.7 GW. Based on a proven execution model with scalability, the company aims to reach a net installed capacity of 5.0 GW by 2030. The portfolio includes the recently announced partnership with Norwegian industrial pioneers, Yara and Statkraft, for electrification of the ammonia plant at Herøya, as well as other green ammonia projects in Norway. The first project at Herøya has potential to remove about 800,000 tonnes of annual greenhouse gas (GHG) emissions, representing what could be the largest climate initiative in Norwegian industrial history. The partnership also forms the basis for what could become a new green export industry by producing emission-free ammonia for CO2-intensive industries, including green fertilizer for the agriculture industry and emission-free shipping. Additional portfolio projects and prospects include: Emission-free shipping in the Arctic: A new green ammonia facility in Berlevåg for decarbonizing Arctic shipping and off-grid power production, where conversion of the coal-fired power plant in Longyearbyen could be one of the first targets by 2025. Aker Clean Hydrogen and Varanger Kraft to each own 50% of the green ammonia facility. Green hydrogen production in Rjukan: Enabling emissions-free ferry and shipping transportation. To be developed jointly with the Tinn municipality and Rjukan Næringsutvikling in southern Norway. Aker Clean Hydrogen owns 100% of the planned facility. Cooperation agreement with Greenstat: Including near-term opportunities at Glomfjord and Meråker in Norway, and a strategic initiative in India. Green hydrogen and ammonia production in Chile: Collaboration between Aker Clean Hydrogen and Mainstream Renewable Power to develop a global scale and commercially viable green value chain in Chile with a significant export potential. Emission-free shipping in the Antarctica: Development of a new green ammonia facility in Uruguay in collaboration with Aker BioMarine as an enabler for a future zero-emission value chain for Aker BioMarine. The project is also aiming at the wider shipping market in that region. 
