Oslo, 26 April 2019: Scatec Solar continued to deliver strong growth and solid
financial results in first quarter 2019 with proportionate revenues of NOK
1,528 million (572), and EBITDA of NOK 315 million (109). Power production
reached its highest level ever with 133 GWh on proportionate basis, almost
doubling production compared to the same period last year.
First quarter revenues and EBITDA increased almost threefold compared to the
same quarter last year. This reflects continued high construction activities in
the Development & Construction segment with revenues of NOK 1,297 million (417),
EBITDA of NOK 159 million (15) and a gross margin of 14%. In the Power
Production segment, it was the first full quarter of production for the new
plants in Brazil and Malaysia which both contributed to increased revenues and
EBITDA.
"We continue our solid deliveries in the first quarter with high construction
activity on four continents and significant project development activity. With
the first 65 MW in Egypt grid connected in April, our installed capacity reached
649 MW, and we plan to grid connect substantial new capacity in the next few
quarters. With continued strong market growth, we will utilise our market
position to further grow a diversified business", says CEO of Scatec Solar
Raymond Carlsen.
Scatec Solar's first quarter consolidated revenues were NOK 327 million (289),
and EBITDA reached NOK 242 million (150).
For further details, please see the attached first quarter report and
presentation.
A presentation of the results will be held today at 08.00 at Høyres Hus,
Stortingsgata 20, Oslo. The presentation and Q&A session can also be followed
through a live webcast from our website www.scatecsolar.com
(http://www.scatecsolar.com).
For further information, please contact:
Mikkel Tørud, CFO
tel: +47 976 99 144 mikkel.torud@scatecsolar.com
(mailto:mikkel.torud@scatecsolar.com)
Ingrid Aarsnes, VP Communication & IR
tel: +47 950 38 364 ingrid.aarsnes@scatecsolar.com
(mailto:ingrid.aarsnes@scatecsolar.com)
About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering
affordable, rapidly deployable and sustainable clean energy worldwide. A long-
term player, Scatec Solar develops, builds, owns, operates and maintains solar
power plants and has an installation track record of more than 1 GW. The company
has a total of 1.7 GW in operation and under construction in Argentina, Brazil,
the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South
Africa and Ukraine.
With an established global presence and a significant project pipeline, the
company is targeting a capacity of 3.5 GW in operation and under construction by
end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the
Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit
www.scatecsolar.com (http://www.scatecsolar.com).
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act