Aker ASA
OSE:AKER
Aker ASA
Aker ASA is a Norwegian industrial investment company with deep roots in the maritime and energy sectors, tracing its origin back to 1841. The company’s journey from a small shipyard on the banks of the Oslo fjord to a modern investment powerhouse reflects Norway's broader transformation from a maritime nation into a diversified industrial economy. At the heart of Aker's operations is a strategic and active ownership philosophy, where it not only injects capital but also leverages management expertise and industry insights to stimulate growth within its portfolio companies. With investments spanning offshore oil and gas, renewable energy, and seafood, Aker is keenly focused on sectors that are integral to the world’s economic and environmental future. Each investment is carefully chosen to complement its existing portfolio, thereby creating synergies that amplify its growth potential.
Aker ASA's business model revolves around generating value through strategic ownership and long-term engagement with its subsidiaries. The company operates through its holding in publicly listed and private companies, extracting value from dividends, capital gains, and consulting services. Each portfolio company is a leader in its field; for instance, Aker BP in oil exploration and production, and Aker Solutions in engineering services for the energy sector. Aker’s commitment to innovation and sustainability is underscored by its investments in renewable energy through Aker Horizons, reflecting a shift towards clean technologies. As each subsidiary thrives, Aker reaps financial rewards that fuel further investments, creating a robust cycle of wealth generation that increasingly focuses on sustainable solutions. This dynamic approach positions Aker not just as an investor, but as a catalyst of industrial progress across multiple sectors.
Aker ASA is a Norwegian industrial investment company with deep roots in the maritime and energy sectors, tracing its origin back to 1841. The company’s journey from a small shipyard on the banks of the Oslo fjord to a modern investment powerhouse reflects Norway's broader transformation from a maritime nation into a diversified industrial economy. At the heart of Aker's operations is a strategic and active ownership philosophy, where it not only injects capital but also leverages management expertise and industry insights to stimulate growth within its portfolio companies. With investments spanning offshore oil and gas, renewable energy, and seafood, Aker is keenly focused on sectors that are integral to the world’s economic and environmental future. Each investment is carefully chosen to complement its existing portfolio, thereby creating synergies that amplify its growth potential.
Aker ASA's business model revolves around generating value through strategic ownership and long-term engagement with its subsidiaries. The company operates through its holding in publicly listed and private companies, extracting value from dividends, capital gains, and consulting services. Each portfolio company is a leader in its field; for instance, Aker BP in oil exploration and production, and Aker Solutions in engineering services for the energy sector. Aker’s commitment to innovation and sustainability is underscored by its investments in renewable energy through Aker Horizons, reflecting a shift towards clean technologies. As each subsidiary thrives, Aker reaps financial rewards that fuel further investments, creating a robust cycle of wealth generation that increasingly focuses on sustainable solutions. This dynamic approach positions Aker not just as an investor, but as a catalyst of industrial progress across multiple sectors.
Net Asset Value: Aker's net asset value rose to NOK 67.3 billion in 2025, up 22.4% for the year with an additional NOK 3.9 billion paid in dividends.
Shareholder Return: Total shareholder return reached nearly 50%, reflecting strong portfolio performance and strategic decisions.
Dividend Outlook: The board proposes a NOK 29 per share dividend for 2026, with potential for an additional payout later in the year.
Portfolio Diversification: Significant progress in listed (up 28%) and unlisted (up 33%) holdings, with notable growth in technology, AI, and real estate platforms.
Cognite & AI: Cognite's revenue hit USD 164 million, ARR up 32% to USD 124 million, with over 70% of new bookings including Atlas AI.
Nscale Investment: Aker deepened its AI infrastructure exposure, acquiring a 9.3% stake in Nscale, valued at NOK 3.8 billion, with expansion underway in Norway.
Financial Strength: Aker maintains a strong liquidity buffer of NOK 5.9 billion and a value-adjusted equity ratio of 82%.
