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    SSO   NO0010715139

SCATEC ASA

(SSO)
  Report
Real-time Oslo Bors  -  10:26 2022-11-29 am EST
82.12 NOK   +0.74%
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Changes to Scatec's Executive Management team

09/26/2022 | 01:01am EST

Oslo, 26 September 2022: Scatec ASA, a leading renewable energy company, is implementing changes to the Executive Management team to position Scatec for increased growth and to further strengthen the company’s organisation.

Renewable energy is more critical than ever. Scatec sees vast opportunities in its key markets to further accelerate the green transition and continue to deliver clean, sustainable, and affordable energy to customers across emerging markets. To achieve this and deliver on Scatec’s ambitions, the company is expanding its executive management team to 11 members and strengthening its regional set up.

Strengthened regions and centralised support and service functions

The regional approach entails that management will be even closer to Scatec’s main markets to drive growth opportunities for the company and ensure long-term success. Each region, namely Sub-Saharan Africa, Middle East & North Africa (MENA), Asia, and Latin America/Europe, will be responsible for the company’s operating power plants and business development. We are also lifting green hydrogen as a key focus area to executive management level.

In addition, Scatec will further strengthen the business structure to be able to deliver on the company’s strategy in the best possible way. This will entail that the regional organisation will be supported by central support and service functions including People, Strategy & Digital, ESG & HSSE, Legal (Compliance), Finance, as well as Solutions and Operations & Maintenance.

Scatec’s current CFO Mikkel Tørud will take on a new executive management role as EVP, Green Hydrogen and MENA, in the new organisation. A recruitment process for his successor is set into motion with immediate effect and will be communicated once finalised. Tørud will continue as CFO until a successor is in place.

Accelerating Scatec’s future journey

“We are strengthening Scatec and enabling our regions to have direction and focus to further grow and deliver on our strategy. People are at the centre of everything we do, and I am looking forward to accelerating Scatec’s future journey with a strengthened team and structure. Renewable energy is more critical than ever, and this is the moment in time when real change in the energy sector can be made. Scatec is at the centre of this transformation and is ready to provide clean and affordable energy to emerging markets,” says Scatec CEO Terje Pilskog.

Scatec’s Executive Management team, effective as of mid-November:

  • Terje Pilskog, Chief Executive Officer
  • Mikkel Tørud, CFO until successor in place. Thereafter, EVP, Green Hydrogen & MENA
  • Jan Fourie, EVP, Sub-Saharan Africa
  • Ann-Mari Lillejord, EVP, Latin America/Europe
  • Eliseo Ana, EVP, Asia
  • Pål Helsing, EVP, Solutions
  • Pål Strøm, EVP, Operations & Maintenance
  • Kate Bragg, EVP, People, Strategy & Digital
  • Roar Haugland, EVP, ESG & HSSE
  • Snorre Valdimarsson, EVP, Legal


For further information, please contact:
For analysts and investors: Andreas Austrell, VP IR, tel: +47 974 38 86, andreas.austrell@scatec.com 
For media: Meera Bhatia, SVP Communications, tel: +47 46 84 49 59, meera.bhatia@scatec.com

About Scatec
Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy in high growth markets. As a long-term player, we develop, build, own and operate renewable energy plants, with 4.6 GW in operation and under construction across four continents today. We are committed to grow our renewable energy capacity, delivered by our 700 passionate employees and partners who are driven by a common vision of ‘Improving our Future’. 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 or connect with us on LinkedIn.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Kine Aaltvedt, Communication & IR Coordinator at Scatec ASA, on 26 September 2022 at 07:00 CEST


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Financials
Sales 2022 3 886 M 388 M 388 M
Net income 2022 -633 M -63,3 M -63,3 M
Net Debt 2022 17 760 M 1 774 M 1 774 M
P/E ratio 2022 -18,9x
Yield 2022 3,27%
Capitalization 13 037 M 1 302 M 1 302 M
EV / Sales 2022 7,93x
EV / Sales 2023 7,02x
Nbr of Employees 700
Free-Float 73,2%
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 82,12 NOK
Average target price 100,33 NOK
Spread / Average Target 22,2%
EPS Revisions
Managers and Directors
Terje Pilskog Chief Executive Officer
Mikkel T°rud Chief Financial Officer
John Andersen Chairman
Jan Steffen Skogseth Independent Director
Liv GisŔle Marchand Independent Director
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