Aker BP : Earnings broadly in line. Reassuring increase in the dividend. Neutral rating confirmed
>Earnings in line on the whole but net income weaker than expected - Aker BP reported Q4 2022 results that were broadly in line but with net income of $ 112m (-85% q-o-q), well below what we expected and the Bloomberg consensus. The gap stemmed from a higher-than-expected tax rate of 95% vs 79% given the non-deductibility of the impairments. CFFO was down to just $ 807m vs $ 2.36bn in Q3, while FCF fell to $ 99m.Solid operating momentum, production guida...Aker BP ASA engages in the exploration, development, and production of petroleum resources on the Norwegian Shelf. In addition, Co. has a separate Johan Sverdrup business unit to manage its interest.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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