Half Year 2024 Aker ASA Earnings Call Transcript
Key Points
- Aker ASA (AKAAF) paid NOK1.2 billion in dividends during the second quarter, returning value to shareholders.
- Aker BP delivered solid production and increased its production guidance for the full year.
- Aker Solutions secured order intake of NOK15 billion and increased its full-year revenue guidance by 40% from last year.
- Cognite achieved record highs in annual recurring revenues and monthly active users, indicating strong commercial development.
- Aker BioMarine announced an agreement to sell its feed ingredients business, which is expected to result in an extraordinary dividend of NOK35 to NOK45 per share.
- Aker ASA (AKAAF) share price decreased by 1.4% in the second quarter, underperforming the Oslo Stock Exchange benchmark index.
- Aker Horizons faced negative sentiment in the renewable sector, which is ripe for further consolidation.
- Aker BP experienced an underserved negative share price development year-to-date, performing worse than peers.
- The renewable sector's market values have declined significantly, posing challenges for Aker Horizons.
- Aker ASA (AKAAF) reported a decrease in cash holdings by NOK240 million from the previous quarter.
Hi, everyone, and welcome to the presentation of Aker's Second Quarter Results 2024. My name is Fredrik Berge and I am Head of Investor Relations. We will start today's presentation with Aker's President and CEO, Oyvind Eriksen , who will take you through the quarterly highlights and recent developments in the portfolio.
Our CFO, Svein Oskar Stoknes will then take you through the quarterly financials in more detail. After the presentation, we will host our prepared Q&A session. And in case you have further questions or feedback, please do not hesitate to get in contact after the presentation. And with that, I'll hand it over to Oyvind Eriksen.
Thank you Fredrik and good morning, everyone. The first half of 2024 was marked by high activity across the Aker portfolio, and we continue to progress on the strategy to focus and streamline our portfolio of investments. We also returned value to our shareholders in the form of NOK1
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