The Net Asset Value ("NAV") of Aker ASA and holding companies ("Aker") was NOK 67.3 billion at the end of the fourth quarter 2025 (NOK 905 per share), after dividends paid, compared to NOK 67.5 billion at the end of the third quarter. Aker distributed a dividend of NOK 2.0 billion in the quarter. Aker's Board of Directors proposes to pay a cash dividend of NOK 29 per share for the fiscal year 2025 and, in-line with previous years' practice, will propose an authorization to pay an additional cash dividend in the second half of 2026.
In the fourth quarter, Aker continued to deliver on its strategy of a more focused portfolio, with increased diversification and investments in new pillars of growth.
Aker's NAV was NOK 905 per share at quarter-end. Listed investments accounted for NOK 768, Unlisted investments NOK 263, and Cash & other assets NOK 38 per share. The share price at quarter-end was NOK 768.
For the full year, Aker’s NAV increased to NOK 67.3 billion, up 22.4% incl. NOK 3.9 billion dividends paid. The total shareholder return was 49.5% (OSEBX: 18.4%, Brent: -18.7%)
“2025 was a pivotal year for Aker – not just in the results we delivered, but in the shift we made as a company. We created greater scale and a more diversified portfolio, reduced our dependence on commodity cycles, and saw real momentum in areas that will define the next decade. Our progress in AI and compute – through Cognite and Nscale – shows how industrial experience can translate into entirely new sources of value. These steps, combined with the outperformance across the portfolio, have strengthened Aker structurally. We enter 2026 with a clearer strategic direction and the capacity to act with much greater ambition,” said Øyvind Eriksen, President & CEO of Aker ASA.
Key events, Q4-2025
Key financials, Q4-2025
(*of which NOK 0.9bn cash and liquid funds, incl. undrawn credit facilities)
Full-year 2025
The webcast presentation will be held today at 09:00 CET at www.akerasa.com/webcast. All material, incl. Excel-file, will be available at www.akerasa.com
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(mboepd = thousand barrels of oil equivalent per day)