Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Aker BP ASA
  6. News
  7. Summary
    AKRBP   NO0010345853

AKER BP ASA

(AKRBP)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Aker Clean Hydrogen: Third-Quarter Results 2021

10/22/2021 | 01:01am EST
Aker Clean Hydrogen today published results for the third quarter of 2021,
showing the company has taken further steps towards maturing its portfolio of
clean hydrogen projects in Norway and internationally, aiming at passing the
first investment decision during 2022.

Hydrogen has the potential to replace fossil-based solutions across several
industries, from transport to agriculture. Several countries have launched
ambitious hydrogen strategies, and the positive political developments continued
in the third quarter.

"We have made further progress to make hydrogen affordable. Some of our
Norwegian projects under development show hydrogen cost levels of USD 3.5-4.5
per kg. In the current market environment, with very high gas prices, this
matches the cost levels for grey hydrogen," said Knut Nyborg, Chief Executive
Officer of Aker Clean Hydrogen.

Highlights in the third quarter included:

.             Secured competitive long-term power agreement for the Rjukan
project

.             MoU signed with TuNur to establish a commercially viable clean
hydrogen and ammonia value chain in Tunisia

.             Exploring green ammonia value chain for offshore platform supply
vessels together with Aker BP

.             Formally launched HEGRA together with our partners, Yara and
Statkraft, to develop a green ammonia facility located at Yara's fertilizer
plant in Herøya, Norway, which will remove about 800,000 tonnes of CO2 per year
and contribute to establishing green value chains in shipping and agriculture

Financial results and outlook

Revenue for the third quarter of 2021 was NOK 7.6 million and operating loss was
NOK 47 million, reflecting costs related to maturing the projects, growing the
pipeline and building the organization. The company also had costs related to
the operational development including the project execution model,
standardization, digitalization, and supply chain. The cash balance at the end
of the period was NOK 2,787 million.

Aker Clean Hydrogen expects to make the first investment decision for the Rjukan
and Berlevåg projects during 2022.

ENDS

Aker Clean Hydrogen will present the results in a live webcast, followed by a
Q&A session, today at CET 0930 via:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20211022_1

Media contact:

Mathias Reierth, mob: +47 988 05 724, email: mathias.reierth@akerhorizons.com

Ivar Simensen, mob: +47 46 40 23 17, email: ivar.simensen@akerhorizons.com

Investor contact:

Christian Yggeseth, mob: +47 915 10 000, email:
christian.yggeseth@akerhorizons.com

About Aker Clean Hydrogen

Aker Clean Hydrogen aims to develop, build, own and operate clean hydrogen
production on an industrial scale. Aker Horizons is the majority shareholder of
the company, and Aker Clean Hydrogen uses domain expertise across the Aker
Group, including systems integration, engineering, technology development,
project implementation, digitalization and financial optimization to increase
efficiency and reduce project costs. The company aims to reach a net installed
capacity of 5 GW by 2030, and will make a major contribution to realizing the
hydrogen industry and reducing greenhouse gas emissions globally.
www.akercleanhydrogen.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
AKER BP ASA 1.08% 318.4 Real-time Quote.45.70%
AKER CLEAN HYDROGEN AS -1.16% 5.979 Real-time Quote.0.00%
AKER HORIZONS ASA -1.94% 32.41 Real-time Quote.0.00%
All news about AKER BP ASA
12/07Former Norway wealth fund chief to head Aker asset manager
RE
12/07Aker BP Signs 3-Year Agreement with Resoptima for Subsurface Uncertainty Modelling
AQ
12/07Former Norway wealth fund chief to head Aker asset manager
RE
11/29ART EXHIBITION : From analog to digital
PU
11/19Norway's oil and gas output exceeded forecast in October
RE
11/19Norway's oil and gas output exceeded forecast in October
RE
11/18Norway oil firms raise 2022 investment forecasts
RE
11/18Norway oil firms raise 2022 investment forecasts
RE
11/17EIOF - Report for 3rd Quarter 2021
AQ
11/12Equinor's Sverdrup oilfield back at full output after outage
RE
More news
Analyst Recommendations on AKER BP ASA
More recommendations
Financials
Sales 2021 47 210 M 5 314 M 5 314 M
Net income 2021 6 836 M 769 M 769 M
Net Debt 2021 16 302 M 1 835 M 1 835 M
P/E ratio 2021 17,1x
Yield 2021 3,54%
Capitalization 114 B 12 880 M 12 879 M
EV / Sales 2021 2,77x
EV / Sales 2022 2,53x
Nbr of Employees 1 745
Free-Float 35,0%
Chart AKER BP ASA
Duration : Period :
Aker BP ASA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AKER BP ASA
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 318,40 NOK
Average target price 332,83 NOK
Spread / Average Target 4,53%
EPS Revisions
Managers and Directors
Karl Johnny Hersvik Chief Executive Officer
David Torvik T°nne Chief Financial Officer
ěyvind Eriksen Chairman
Ine Dolve SVP-Operations & Asset Development
Trond Brandsrud Independent Director
Sector and Competitors
1st jan.Capi. (M$)
AKER BP ASA45.70%12 522
CONOCOPHILLIPS86.47%98 354
EOG RESOURCES, INC.81.59%52 986
CANADIAN NATURAL RESOURCES LIMITED79.73%51 162
PIONEER NATURAL RESOURCES COMPANY55.32%45 345
CNOOC LIMITED7.94%44 496