Akastor ASA reported a fair value adjusted net asset value of NOK 4.735 billion, or NOK 17.3 per share, at the end of June 2026, down 10% from NOK 5.251 billion (NOK 19.2 per share) in the prior quarter. The Oslo-listed investment company also posted book equity of NOK 4.779 billion, or NOK 17.4 per share.
Net cash rose by NOK 321 million to NOK 540 million at quarter-end, with total liquidity including money-market funds reaching NOK 560 million. Net capital employed declined to NOK 3.756 billion from NOK 4.286 billion in Q1 2026. The company maintained a debt-to-equity ratio of 0.03 and a current ratio of 3.31.
The board approved a cash dividend of NOK 0.50 per share for Q2 2026, payable in early September. This marks the fifth consecutive quarterly payout and follows a NOK 1.50 per share distribution in May. Total distributions in the first half amounted to NOK 1.90 per share, bringing cumulative payouts since July 2025 to NOK 3.15 per share, or NOK 858 million.
Consolidated revenue for the quarter reached NOK 156 million, with EBITDA of NOK 94 million, including a NOK 101 million gain from the sale of the Skandi Emerald vessel. Non-current borrowings stood at NOK 20 million.
Akastor’s largest holding, HMH, accounted for roughly 60% of gross asset value at NOK 2.966 billion. The 36.3% stake was valued using HMH’s closing share price of $18.74 at quarter-end. HMH posted revenue of USD 171 million and adjusted EBITDA of USD 34 million in the first half, with an order intake of USD 205 million and a book-to-bill ratio of 1.2x. The April IPO generated USD 53 million in proceeds, including USD 27 million from shareholder loan repayments.
NES Fircroft, in which Akastor holds about 15%, contributed NOK 684 million to gross asset value. The staffing group reported revenue of USD 806 million and underlying EBITDA of USD 39 million for the first half. In July, NES Fircroft completed a USD 650 million senior secured bond placement, enabling a potential dividend recapitalization of up to USD 350 million.
AKOFS Offshore’s fleet utilization remained strong, with the Aker Wayfarer at 98% revenue utilization in Brazil and the AKOFS Seafarer at 93% in Norway. AKOFS Santos operated at 86% utilization after a temporary technical issue in May. Revenue for the unit totaled USD 44 million with EBITDA of USD 16 million.
DDW Offshore’s Skandi Peregrino maintained 98% utilization in Australia, with its contract extended to November 2026 and 16 months of priced options remaining. The company’s revolving credit facility was reduced to USD 7 million, with USD 2 million drawn as of June 30. The facility matures in November 2027 at a 2.75% margin with quarterly reductions of USD 0.5 million.
Akastor’s shares rose 39.88% in pre-market trading to $14.10, approaching the 52-week high of $15.88.
