Oslo, 29 October 2021: Scatec's third-quarter proportionate revenues were NOK
1,254 million (556) with EBITDA of NOK 767 million (319) and an associated
EBITDA margin of 61%. Power production more than doubled from the same quarter
last year and totalled 1,065 GWh (430) after the acquisition of SN Power, strong
operational performance and grid connection of new solar plants.
Power Production revenues reached 1,130 million (457) and EBITDA 823 million
(379). Development & Construction revenues continued to be limited, due to
short-term construction delays for the 150 MW solar plant in Pakistan. Further,
the timelines for the backlog projects have been adjusted, and expected
financial close is moved into 2022.
"Scatec is well positioned for continued growth with a broad renewable offering,
focus on high growth markets and a proven business model. We are maturing a
large project pipeline in several renewable technologies and building on our
multi-technology capabilities and experience in realising complex projects. The
recent award for 270 MW solar in South Africa and the new partnership with
Fertiglobe and the Sovereign fund of Egypt to develop a 50-100 MW green hydrogen
facility in Egypt are testimonies of this", says Raymond Carlsen, CEO of Scatec.
Scatec holds a project backlog of more than 1,9 GW in addition to a growing
pipeline of 13,9 GW across several technologies.
In the first three quarters of 2021 proportionate revenues were NOK 3,365
million (2,347) with EBITDA of NOK 2,004 million (1,082).
Scatec's third quarter consolidated revenues were NOK 1,059 million (724), with
EBITDA of NOK 827 million (538). The consolidated net profit was NOK 169 million
(-24).
For further details, please see the attached third quarter 2021 report and
presentation.
A presentation of the results followed by a Q&A session will be held at Scatec's
headquarters at Skøyen Atrium III (1st floor), Askekroken 11, 0277 Oslo, today
at 09:00 am CEST. You can also follow the the presentation and Q&A session from
our website: www.scatec.com
(https://www.globenewswire.com/Tracker?data=Xnu89NsnySDGekklj98VKkgjhlXRXRCap_qR
tiQ8ybKjpV1AhWRQSdXhEOgcEpxa_AuNyRNdcnVpMkJOqA2Xiw==), or this direct
link: Scatec webcast Q3 2021
(https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20211029_1)Numbers in
brackets are comparative figures from Q3 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 38-41.
For further information, please contact:
For analysts and investors: Andreas Austrell, VP IR, tel: +47 974 38 686,
andreas.austrell@scatec.com (mailto:andreas.austrell@scatec.com)
For media: Stian Tvede Karlsen, Communications Manager, tel: +47 920 67 460,
stian.karlsen@scatec.com (mailto:stian.karlsen@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
(https://www.globenewswire.com/Tracker?data=Xnu89NsnySDGekklj98VKh9a0jTYeRdnxSaO
Q8Y46MPHsBCxl84TWbUooQFytWxI0Wk98nOvp9qrFMTH4Vs6_A==), or connect with us
on Linkedin
(https://www.globenewswire.com/Tracker?data=pil_35faIssoNVRK873Qcx8LtAsDokobpTcM
6u4iy-c6uopcl5D9JJaTA1XzVnRktXJudnAQqTL0TT15poBqkZ0GhIQ9UoOkpWB4zO13y0Q=).
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act