AKAAF - Aker ASA (AKAAF) Q4 2023 Earnings Call Transcript
2024-02-20 23:20:26 ET
Aker ASA (AKAAF)
Q4 2023 Earnings Conference Call
February 20, 2024 03:00 ET
Company Participants
Fredrik Berge - Head, Investor Relations
Øyvind Eriksen - President and Chief Executive Officer
Svein Oskar Stoknes - Chief Financial Officer
Presentation
Fredrik Berge
Hi, everyone and welcome to the presentation of Aker’s Fourth Quarter Results 2023. My name is Fredrik Berge, and I’m Head of Investor Relations. We will start today’s presentation with Aker’s President and CEO, Øyvind 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 a Q&A session, and you can submit your questions via the online platform during or after the presentation.
And with that, I hand it over to Øyvind Eriksen.
Øyvind Eriksen
Thank you, Fredrik, and good morning, everyone. We demonstrated progress across several key metrics in the fourth quarter and delivered positive value to our shareholders through both share price increase and dividends. Important strategic initiatives are progressing as part of our active ownership agenda in line with Aker’s strategy and focus on long-term value creation. In line with our strategy and what I have communicated previously, one of our key strategic objectives is to strengthen and diversify upstream dividends in Aker. This work has yielded results, and upstream dividends amounted to NOK4.4 billion last year. This represents an increase of almost 60% from the year before. And our focus on this objective will continue as we embark on 2024.
During the quarter, Aker continued further deepening its long-term collaboration with SLB as Aker Solutions closed its OneSubsea transaction. Aker Solutions now owns 20% of a global subsea technology and solutions provider, uniquely placed for growth and value creation. Aker Solutions delivered strong operational results in the fourth quarter. The current focus remains on core operations to deliver a solid and predictable project execution of its record-high order backlog and position the company for future profitable growth with a selective approach to its high-tender pipeline....
Aker ASA (AKAAF) Q4 2023 Earnings Call Transcript