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Aker ASA (AKAAF)
OTHER OTC:AKAAF
Earnings Data
Report Date
May 08, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
-1.46Same Quarter Last Year
Moderate Sell
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a predominantly positive operational and financial narrative: NAV and listed/unlisted holdings showed strong double‑digit growth, Cognite and Nscale demonstrated significant commercial and funding momentum, and real estate investments materially outperformed peers. These strategic gains are tempered by short‑term liquidity pressures, a marked increase in net interest‑bearing debt, some negative quarterly financial items and execution risk as Nscale scales. On balance, strengths (portfolio rebalancing, high growth in software and AI infrastructure, strong funding, and real estate outperformance) outweigh the near‑term financial and execution challenges.Company Guidance
Strong Net Asset Value and Total Shareholder Return
Net asset value closed at NOK 67.3 billion, up 22.4% for the year (including NOK 3.9 billion paid in dividends). Total shareholder return was nearly 50% for 2025.
Robust Dividend Income and Proposed Payout
Dividend income of NOK 6 billion for the year provided stable cash flow. The fourth quarter included a NOK 2 billion dividend distribution and the Board proposed a NOK 29 per share dividend for Q2 2026 with authorization for an additional dividend later in the year.
Listed and Unlisted Portfolio Growth
Listed holdings grew 28% and were valued at NOK 57 billion (72% of total assets). Unlisted holdings grew 33% and were valued at NOK 20 billion (25% of total assets), reflecting strong delivery from both public and private assets.
Real Estate Outperformance and Strategic Upsize
Real estate platform (gross NOK 145 billion) outperformed peers since May 2025: PPI +23%, Sveafastigheter +20%, SBB +16% while the OMX Stockholm Real Estate Index declined 4%. The PPI–SBB transaction tripled PPI's portfolio and increased Aker's economic ownership in PPI to 34%.
Cognite: Strong Revenue Growth and AI Adoption
Cognite delivered USD 164 million in annual revenue; ARR grew 32% to USD 124 million. Atlas AI customers grew nearly eightfold, >70% of new bookings included Atlas AI, Q4 added 13 new customer contracts, gross margin reached 68% and software gross margin exceeded 80%. Approximately 80% of revenue comes from customers outside the Aker Group and ~40% from outside oil & gas; strong pharma traction with 4 of top 10 global companies as customers.
Nscale: Record Funding and Execution Momentum
Nscale completed a USD 1.1 billion Series B (largest Series B in European history) and a USD 433 million Series C safe. Aker acquired a 9.3% stake in Nscale (valued at NOK 3.8 billion, with earn‑out to 12.2%) and holds the 50% Aker Nscale JV valued at NOK 2.9 billion. The JV has 230 MW secured grid capacity in Narvik and ~1.5 GW in the queue, with multibillion-dollar contracts, Tier 1 partnerships (NVIDIA, Dell, Nokia) and hundreds of thousands of GPUs awarded to date.
Aize Traction and Recurring Revenue Progress
Aize generated more than USD 14 million in recurring revenue in 2025, secured a major contract for a large onshore LNG facility in the U.S., increased subscription revenue, and is targeting USD 50 million recurring revenue by 2029 with ~90% of the business recurring.
Solid Consolidated Financial Position and Liquidity Facilities
On a fair value adjusted basis Aker's gross asset value was NOK 79.4 billion and NAV NOK 65.1 billion (NOK 876 per share after dividend allocation). Aker maintains a liquidity buffer of NOK 5.9 billion and increased revolving credit facility capacity by NOK 3 billion to NOK 15 billion. Loan-to-value ratio stands at 14% and effective loan maturity extends to more than 5 years when including extension options.
AKAAF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AKAAF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 13, 2026 | $97.08 | $97.08 | 0.00% |
Nov 04, 2025 | $76.86 | $77.37 | +0.66% |
Jul 16, 2025 | $64.09 | $62.17 | -2.99% |
May 09, 2025 | $56.18 | $57.35 | +2.08% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Aker ASA (AKAAF) report earnings?
Aker ASA (AKAAF) is schdueled to report earning on May 08, 2026, Before Open (Confirmed).
What is Aker ASA (AKAAF) earnings time?
Aker ASA (AKAAF) earnings time is at May 08, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AKAAF EPS forecast?
Currently, no data Available