Aker BP : Q3 2023 results a shade above expectations - Neutral recommendation confirmed given the absence of growth and low shareholder returns
>Good operating profit and net profit, 1% and 5% respectively above expectations - AkerBP has reported its results for Q3 2023, with EBIT 1% ahead of the consensus and net profit 5% ahead of expectations at $ 588m (+48.1% q-o-q). The difference is due to a lower tax rate of 77% compared with 82% in Q2. CFFO after tax rose to $ 2,101m from $ 121m in Q2 due to the absence of tax outlays paid in the previous quarter. FCF came in at $ 1,157m.Production guid...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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