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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Akastor
Akastor (AKAST) investor relations material
Akastor Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary11 Nov, 2026
Executive summary
Q3 NAV was NOK 4.30bn, or NOK 15.7/share, versus NOK 4.74bn and NOK 17.3/share at Q2 end; subsequent HMH share-price weakness implied NAV of NOK 3.3bn, or NOK 11.9/share, all else unchanged.
A NOK 2.50/share dividend was approved; distributions since July 2025 reached NOK 1.54bn, or NOK 5.65/share, supported by NES Fircroft and Skandi Peregrino proceeds.
Strategy focuses on realizing portfolio value, returning excess capital and maintaining a sound capital structure; HMH, NES Fircroft and AKOFS are key remaining investments.
Financial highlights
Q3 consolidated revenue and other income was NOK 35m, EBITDA was -NOK 7m and net loss was NOK 16m; consolidated results reflect only a limited portion of portfolio activity.
Q3 net cash was NOK 357m; net interest-bearing items were NOK 835m cash including interest-bearing receivables.
NAV declined from NOK 4.74bn at Q2 end, mainly reflecting a NOK 284m reduction in HMH market value and NOK 136m of dividends paid.
YTD revenue was NOK 373m, EBITDA NOK 211m and net profit NOK 57m.
Outlook and guidance
2027 is expected to be important for portfolio realizations; timing depends on underlying value and differs across HMH, NES Fircroft and AKOFS.
AKOFS earnings are expected to improve significantly from 2027 as Petrobras contracts begin for Santos in Q1 and Aker Wayfarer in Q3.
HMH has a healthy opportunity pipeline, with equipment and upgrade opportunities expected to develop into 2027; customer award timing remains uncertain.
AKOFS Santos entered the yard after quarter-end for planned upgrades ahead of its new Petrobras contract, affecting Q4 revenue.
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Latest events from Akastor
- FY adjusted EBITDA rose 30%; liquidity plans hinge partly on DRU proceeds.AKAST
Q4 2023 - H1 2026 saw robust profit, high dividends, and strengthened balance sheet after key asset sales.AKASTQ2 2026
- Dividend approved, strong EBITDA, and asset sales drive NOK 89 million net profit.AKASTQ1 2026
- Dividend paid, record HMH margins, new contracts, and asset sale boost future outlook.AKASTQ4 2025
- Dividend of NOK 0.35/share approved, backed by strong cash flow and stable operations.AKASTQ2 2025
- EBITDA up 32%, strategic acquisition, and strong contract backlog support positive outlook.AKASTQ3 2024
- DRU arbitration and HMH growth led to record profit, net cash, and a potential US IPO.AKASTQ2 2024
- Strong EBITDA, asset sales, and increased ownership drive value and future dividends.AKASTQ1 2025
- FY 2024 EBITDA up 27%, strong cash flow, and major contract wins drive positive outlook.AKASTQ4 2024
Next Akastor earnings date
Q4 202612 Feb, 2027
Akastor
Next Akastor earnings date
Q4 202612 Feb, 2027
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Frequently asked questions
Akastor is an investment company focused on industrial and oilfield services. The company owns and operates businesses in drilling systems, subsea technologies, and engineering services, primarily serving the global oil and gas industry. It manages its portfolio with a focus on value creation and strategic partnerships. The company is headquartered in Lysaker, Norway, and its shares are listed on the OSE.