July 18, 2018 / 6:50 AM / 3 months ago

UPDATE 1-Norway's Aker: net asset value rises by over a third q/q

(Adds more details from report/presentation material)

July 18 (Reuters) - Investment company Aker ASA:

* Aker Q2 net asset value (NAV) 57.1 billion crowns ($7.00 billion) versus nok 42.4 billion in Q1

* Per-share NAV amounted to NOK 769 at the end of the second

* quarter, compared to NOK 571 as of 31 March 2018 vs closing price of NOK 624 on July 17

* “It is hard to find a quarter with better performance in Aker’s 177-year industrial history”, said Aker President and CEO Oeyvind Eriksen

* Aker’s liquidity reserve, including undrawn credit facilities, stood at NOK 4.5 billion as per 30 June 2018

* Aker Q2 pretax result NOK 1 173 million versus NOK -201 million in q2 2017

* Aker’s portfolio consists of ownership in Aker BP (40 pct), Aker Solutions (34.8 pct), Akastor (36.7 pct), Kværner (28.7 pct), Ocean Yield (61.7 pct) and Aker Biomarine (100 pct), among others

* Says on track to deliver over NOK 2.0 billion in upstream cash in 2018 from its holding companies (based on dividend from Aker BP and Ocean Yield)

* Aker BP currently accounts for approximately two-thirds of Aker’s gross asset values and the attractive quarterly dividends paid is a main source of upstream cash flow to Aker Source text for Eikon: Further company coverage: ($1 = 8.1629 Norwegian crowns) (Reporting By Ole Petter Skonnord)

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