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Investments

Ocean Yield

Ocean Yield charters modern vessels on long-term contracts, which offers foreseeability with respect to future earnings and dividend capacity.

AKER’S ENGAGEMENT
Aker owns 66.2 per cent of the shares in Ocean Yield. In 2016, Ocean Yield’s share price fell from NOK 68.50 to NOK 65.00. The company paid a dividend of USD 0.68 (NOK 5.80) per share. Aker’s shareholding was valued at NOK 6.4 billion by year-end, equivalent to 15 per cent of Aker’s total assets. Frank O. Reite and Kjell Inge Røkke represent Aker on Ocean Yield’s board of directors.

AKER’S OWNERSHIP AGENDA
Ocean Yield completed a NOK 862 million share issue in 2016. Aker did not to participate in the capital increase, reducing its ownership interest from 73 to 66.2 per cent. The decision was taken in accordance with Aker’s aim of owning a
smaller proportion of a growing Ocean Yield. Ocean Yield also reinforced its capital base by NOK 750 million through the issue of a new unsecured bond loan.

In 2016, Ocean Yield invested more than USD 550 million. The company entered a new segment, namely the container market. New investments boosted the order reserve, bringing the company’s EBITDA order reserve to USD 3.1 billion by year-end.

Ocean Yield has a strong foundation for growth and diversification of its portfolio in terms of both counterparty risk and target segments. Aker’s view of the market remains positive. Ocean Yield is expected to be a substantial contributor to Aker’s dividend receipts going forward. Aker is focused on optimising Ocean Yield’s capital structure, reducing capital costs and close monitoring of counterparties in the portfolio. Collectively, these measures will secure  earnings and dividends growth.

For more information, please visit www.oceanyield.no .

Ocean Yield

Geographic market:
International

Sector:
Oil service and shipping

Category:
Offshore

Share of Aker's total assets (4Q16)
15%

CEO:
Lars Solbakken

Board chairman:
Frank O. Reite

Website:
www.oceanyield.no