Oslo, 23 July 2021: Scatec's second quarter proportionate revenues was NOK
1,101 million (925) with EBITDA of NOK 601 million (417) and associated EBITDA
margin of 55%. Power production more than doubled from the same quarter last
year and totaled 860 GWh (406) with strong contributions from the new hydropower
assets.
The Group's power production capacity increased by almost 1,500 MW compared to
last year. Power Production revenues reached 969 million (458) and EBITDA 660
million (374). Development & Construction's revenues and EBITDA decreased
compared to the same period last year but will be ramping up again in second
half of the year when new projects move into construction.
"We are experiencing strong market development across all our technology
segments with major projects in South Africa and India secured as backlog in the
quarter. I am pleased to see our development teams globally adding significant
volume to our backlog and pipeline. We have also reached important milestones
with commercial operations in Argentina and Ukraine, continuing to deliver on
our ambitious targets", says Raymond Carlsen, CEO of Scatec.
Scatec holds a project backlog of almost 2,100 MW. In addition, the project
pipeline is solid, totaling close to 12,300 MW across several technologies. This
also include offshore wind projects under development in Southeast Asia.
First half 2021 proportionate revenues were NOK 2,111 million (1,791) with
EBITDA of NOK 1,237 million (763).
Scatec's second quarter consolidated revenues were NOK 874 million (725), with
EBITDA of NOK 670 million (580). The consolidated net profit was NOK 110 million
(-81).
For further details, please see the attached second quarter and first half 2021
report and presentation.
A presentation of the results followed by a Q&A session will be held through a
live webcast today at 08:00 am CEST. You can follow the webcast from our
website: www.scatec.com (http://www.scatec.com), or this direct link: Scatec
Webcast Q2 2021 (royalcast.com)
(https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210723_1). You may
ask questions through the webcast solution or email your question in advance to
ir@scatec.com (mailto:ir@scatec.com).
Numbers in brackets are comparative figures from Q2 2020 or first half 2020.
EBITDA and other alternative performance measures (APMs) are defined and
reconciled as a part of the APM section of the attached quarterly report on
pages 41-44.
For further information, please contact:
Mikkel Tørud, CFO, tel: +47 976 99 144, ir@scatec.com (mailto:ir@scatec.com)
Ingrid Aarsnes, VP Communication & IR, tel: +47 950 38 364,
ingrid.aarsnes@scatec.com (mailto:ingrid.aarsnes@scatec.com)
About Scatec ASA:
Scatec is a leading renewable power producer, delivering affordable and clean
energy worldwide. As a long- term player, Scatec develops, builds, owns and
operates solar, wind and hydro power plants and storage solutions. Scatec has
more than 3.5 GW in operation and under construction on four continents and more
than 500 employees. The company is targeting 15 GW capacity in operation or
under construction by the end of 2025. Scatec is headquartered in Oslo, Norway
and listed on the Oslo Stock Exchange under the ticker symbol 'SCATC'. To learn
more, visit www.scatec.com (http://www.scatec.com), or connect with us
on Linkedin (https://www.linkedin.com/company/scatec/).
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act