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Ocean Yield

Ocean Yield charters ships on long-term con- tracts, a strategy which o ers predictability with respect to future earnings and dividend capacity.

AKER’S ENGAGEMENT
Aker owns 61,65 per cent of the shares in Ocean Yield. In 2017, Ocean Yield’s share price increased from NOK 65.00 to NOK 69.50. The company also paid a dividend of USD 0.74 per share, corresponding to NOK 6.11 per share. Aker’s sharehold- ing was valued at NOK 6.8 billion at the end of 2017, equivalent to 14 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
In 2017, Ocean Yield invested USD 327 million, and approximately USD 280 million net after seller's credits. These investments contributed to increased diversi cation of the order backlog, both by counterpart and within segments. At year end, the company owned 40 vessels with an EBITDA order backlog of USD 3.0 billion. The average remaining EBITDA-weighted con- tract tenor is 11 years.

Aker supports Ocean Yield’s strategy of growing the company over time through value-generating transactions and further portfolio diversi cation. The company has a strong foundation for targeted growth in terms of both counterparty risk and tar- get segments. Future growth will primarily occur through the purchase of maritime assets on long-term contracts, and Aker’s view of the market remains positive.

Ocean Yield is expected to be a substantial contributor to Aker’s dividend receipts going forward. Moreover, in its capaci- ty as owner, Aker is focused on optimising Ocean Yield’s capital structure, reducing capital costs and encouraging close mon- itoring of counterparties in the portfolio. Collectively, these measures will secure pro table 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 (3Q18)
9%

CEO:
Lars Solbakken

Board chairman:
Frank O. Reite

Website:
www.oceanyield.no