Q4 2025 Aker ASA Earnings Call Transcript

Feb 13, 2026 / 08:00 AM GMT

Release Date Price: €78.7 (-1.63%)

Transcript

Key Points

Positve

Aker ASA (AKAAF) reported a 22.4% increase in net asset value for 2025, closing at 67.3 billion kronur.
Total shareholder return was nearly 50%, reflecting strong underlying delivery and strategic choices.
Dividend income of 6 billion kronur supports predictable returns and allows for long-term investments.
Listed holdings grew by 28%, and unlisted holdings, including technology platforms, grew by 33%.
Cognite's annual revenue reached $164 million, with ARR up 32% to $124 million, and gross margin increased to 68%.

Negative

The fourth quarter net asset value remained broadly unchanged despite a substantial dividend distribution.
Interest-bearing debt rose significantly to 9.7 billion kronur, up from 1.7 billion in the previous quarter.
Operating expenses in the fourth quarter were high at 170 million kronur.
The company faces challenges in balancing investments in high-growth areas with its dividend framework.
The market for AI infrastructure is constrained by power, speed, and efficiency of operations, posing execution challenges.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AKER.OL - Aker ASA
Q4 2025 Aker ASA Earnings Call
Feb 13, 2026 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the presentation of AR's 4th quarter results for 2025.

My name is Christina Chardam and I am the head of communications at OCR.

I am joined in the studio today by our President and CEO Een Alisson who will walk you through the key highlights and recent developments across the portfolio.

We are also fortunate to have Josh Payne, founder and CEO of Escale, with us to give an update on this exciting company.

Our Chief Financial Officer Svenovska Stoness will then take you through the financial results in more detail.

After the presentation, we'll host a Q&A.

And with that, I'll hand it over to Avon.

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