PP segment - PL per country
Proportionate financials - profit & loss in the Power Production segment and financial position
Q4 2022 Philippines South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina Other** Total
NOK MILLION Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 591 148 92 79 70 43 63 14 25 19 28 33 21 33 1,262
Cost of sales -230 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 -230
Net revenues * 361 148 92 79 70 43 63 14 25 19 28 33 21 33 1,032
OPEX -54 -26 -6 -5 -14 -12 -16 -4 -7 -4 -8 -7 -3 -46 (212)
EBITDA * 307 121 86 74 56 31 47 11 18 16 19 26 19 -11 821
EBITDA margin 52% 82% 93% 93% 80% 72% 74% 75% 72% 81% 68% 79% 89% -33% 65%
Cash flow to equity * 216 43 51 11 19 3 -14 -1 5 2 14 18 4 -16 357
Scatec economic interest 50% 45% 28% 100% 51% 20% 89% 100% 51% 62% 44% 100% 50%
Net production (GWh) 281 130 105 73 104 83 42 3 17 11 38 39 43 12 979
Cash 447 84 121 399 241 149 123 52 135 205 22 23 22 170 2,193
Gross interest bearing debt * 2,817 3,210 888 2,049 1,600 256 1,279 315 155 422 310 356 354 309 14,319
Net working capital * -35 707 -27 -347 -121 -121 -1,282 -39 -21 -82 -2 -2 -343 -650 -2,363
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
**Includes Rwanda, Mozambique, Release and Pakistan in addition to other costs allocated to the Power Production segment
Q3 2022 Philippines South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina Other** Total
NOK MILLION Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 615 116 91 85 93 75 41 42 26 31 28 4 16 48 1,311
Cost of sales -191 -1 - - - 0 - 0 - - - - -1 - - 0 -17 -210
Net revenues * 424 115 91 85 93 75 41 42 26 31 27 4 16 31 1,101
OPEX -50 -25 -8 -15 -16 -9 -13 -3 -4 -3 -6 -6 -3 -33 -194
EBITDA * 375 90 83 70 77 66 27 39 21 28 22 -2 13 -1 907
EBITDA margin 61% 77% 91% 83% 83% 88% 67% 93% 83% 89% 76% -44% 80% -1% 69%
Cash flow to equity * 272 20 48 15 35 34 5 21 8 13 18 -9 - -10 469
Scatec economic interest 50% 45% 28% 100% 51% 20% 89% 100% 51% 62% 44% 100% 50%
Net production (GWh) 339 96 103 78 136 151 104 8 18 19 37 5 32 11 1,135
Cash 527 108 219 482 225 101 94 80 42 198 18 56 3 175 2,329
Gross interest bearing debt * 2,981 3,129 1,009 2,239 1,720 266 1,295 330 169 453 332 385 378 336 15,021
Net working capital * 48 676 50 -396 -76 -99 -1,030 -21 85 -72 -10 -41 -364 -435 -1,686
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
**Includes Rwanda, Mozambique, Release, India, Bangladesh
Q2 2022 Philippines South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina Other** Total
NOK MILLION Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 376 109 85 89 90 78 19 47 25 28 23 12 12 20 1,015
Cost of sales -198 - - -1 - 0 - 0 - - - - -1 - - 0 -5 -204
Net revenues * 178 109 85 89 90 78 19 47 25 28 22 12 12 15 810
OPEX -45 -28 -6 -15 -15 -9 -18 -3 -5 -3 -5 -6 -3 -33 -193
EBITDA * 133 81 79 74 75 69 1 44 20 25 17 6 9 -17 617
EBITDA margin 35% 74% 93% 83% 83% 89% 4% 93% 81% 89% 74% 53% 76% -89% 61%
Cash flow to equity * 54 -2 47 13 39 35 -12 25 18 11 3 55 2 -19 269
Scatec economic interest 50% 45% 28% 100% 51% 20% 89% 100% 51% 62% 44% 100% 50%
Net production (GWh) 135 89 100 85 138 158 82 9 18 19 32 15 27 9 916
Cash 385 86 122 386 211 124 77 41 34 180 13 51 4 78 1,809
Gross interest bearing debt * 2,964 2,002 923 2,126 1,618 323 824 320 155 435 320 369 346 316 13,039
Net working capital * -41 -87 62 -348 -41 -75 -1,438 -6 75 -69 -46 -29 -336 -287 -2,718
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
**Includes Rwanda, Mozambique, Release, India, Bangladesh
Q1 2022 Philippines South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina Other** Total
NOK MILLION Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 316 131 80 91 70 58 28 25 28 19 20 34 17 16 933
Cost of sales -205 - - 1 - 0 - - - - -1 - 0 0 -207
Net revenues * 111 131 80 92 70 58 28 25 28 19 19 34 17 16 727
OPEX -37 -17 -6 -15 -14 -8 -102 -3 -4 -3 -4 -5 -2 -17 -236
EBITDA * 73 114 74 77 57 50 -74 22 23 17 15 29 15 -2 490
EBITDA margin 23% 87% 93% 85% 81% 87% -269% 88% 85% 85% 75% 85% 86% -10% 53%
Cash flow to equity * -2 335 41 17 20 18 -88 7 16 3 5 19 9 -8 391
Scatec economic interest 50% 45% 28% 100% 51% 20% 89% 100% 51% 62% 44% 100% 50%
Net production (GWh) 100 118 115 89 113 126 43 5 21 13 31 44 40 9 868
Cash 264 100 179 400 165 84 72 45 29 139 8 46 9 58 1,613
Gross interest bearing debt * 2,638 2,002 848 2,051 1,434 291 770 313 137 371 312 335 318 278 12,097
Net working capital * -146 -69 42 -342 -53 -94 -1,250 -19 61 -59 -40 -19 -33 -119 -2,187
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
**Includes Rwanda, Mozambique, Release, India, Bangladesh
Q4 2021 Philippines** South Africa 1) Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina*** Other Total
NOK million Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 416 151 78 84 63 70 52 15 25 17 27 32 19 23 1,073
Cost of sales -106 - - - - - - - - - - - - - -106
Net revenues * 310 151 78 84 63 70 52 15 25 17 27 32 19 23 968
OPEX -57 -30 -6 -16 -9 -10 -21 -4 -5 -3 -4 -6 -1 -33 -205
EBITDA * 254 121 72 68 53 60 31 12 21 13 22 27 17 -10 763
EBITDA margin 51% 80% 92% 81% 84% 85% 60% 83% 82% 79% 81% 83% 92% -43% 66%
Cash flow to equity * 166 30 49 7 19 26 4 - 12 - 9 16 12 -20 330
Scatec economic interest 50% 45% 28% 100% 51% 20% 89% 100% 51% 62% 44% 100% 50%
Net production (GWh) 236 142 110 82 102 153 51 3 20 11 35 42 45 14 1,047
Cash 310 174 118 338 159 134 99 51 19 165 14 38 2 97 1,718
Gross interest bearing debt * 2,762 1,709 858 2,063 1,452 340 787 318 138 398 270 347 326 288 12,056
Net working capital * -176 -76 48 -333 -45 -88 -814 -34 64 -68 -6 -29 -26 -115 -1,699
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
** Q1-Q4 2021 figures for Philippines have been adjusted due to change in accounting policy for bilateral contracts as disclosed in Note 10 to Q1 2022 condensed interm consolidated financial statements. Revenues and cost of sales are presented in net amounts. Adjustments are NOK 56 million in Q1 2021, NOK 94 million in Q2 2021, NOK 58 million in Q3 2021 and NOK 81 million in Q4 2021
***Argentina figures changed from Q4 2021 reporting. Part of the amount is reclassified to Other.
Q3 2021 Philippines** South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina*** Other*** Total
NOK million Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 335 126 82 86 85 87 128 43 25 26 17 7 25 1,072
Cost of sales -74 - - - - - - - - - - - - -74
Net revenues * 260 126 82 86 85 87 128 43 25 26 17 7 25 999
OPEX -33 -26 -5 -16 -12 -10 -23 -3 -5 -3 -4 -5 -32 -176
EBITDA * 228 100 77 71 73 78 104 40 20 24 13 2 -7 823
EBITDA margin 58% 79% 94% 82% 86% 89% 82% 93% 81% 90% 76% 31% -26% 73%
Cash flow to equity * 138 21 43 9 33 39 69 22 12 9 2 -8 -14 377
Scatec economic interest 50% 45% 28% 100% 51% 20% 89% 100% 51% 62% 44% 100%
Net production (GWh) 214 104 110 84 136 189 104 8 20 19 30 9 38 1,065
Cash 230 212 185 377 230 68 75 61 18 144 14 67 3 76 1,762
Gross interest bearing debt * 2,785 1,848 886 2,132 1,462 332 843 334 143 390 277 346 330 287 12,395
Net working capital * -56 -100 39 -357 -53 -71 -514 -15 56 -56 -15 -50 -311 -50 -1,553
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
** Q1-Q4 2021 figures for Philippines have been adjusted due to change in accounting policy for bilateral contracts as disclosed in Note 10 to Q1 2022 condensed interm consolidated financial statements. Revenues and cost of sales are presented in net amounts. Adjustments are NOK 56 million in Q1 2021, NOK 94 million in Q2 2021, NOK 58 million in Q3 2021 and NOK 81 million in Q4 2021
*** Argentina included in Other for the non balance sheet items above as reported in the Q3 report
Q2 2021 Philippines** South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina Other Total
NOK million Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 254 108 76 86 86 80 48 45 26 26 18 9 12 875
Cost of sales -67 - 0 - 0 - 0 - 0 -0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 -67
Net revenues * 187 108 76 86 86 80 48 45 26 26 18 9 12 808
OPEX -39 -20 -5 -11 -9 -8 -9 -3 -4 -3 -4 -6 -29 -149
EBITDA * 149 88 71 75 77 72 39 42 22 23 14 4 -16 660
EBITDA margin 43% 81% 94% 87% 89% 90% 81% 94% 84% 90% 79% 40% -131% 68%
Cash flow to equity * 65 13 40 18 38 37 7 24 14 10 4 -1 -19 252
Scatec economic interest 50% 45% 28% 100% 51% 20% 91% 100% 51% 62% 44% 100%
Net production (GWh) 111 91 111 86 139 182 34 8 22 20 33 13 9 860
Cash 309 175 110 298 215 122 54 31 28 150 12 70 1 88 1,664
Gross interest bearing debt * 2,902 1,887 867 2,074 1,438 398 859 333 146 400 297 328 319 289 12,538
Net working capital * -193 -63 51 -315 -51 -56 -628 -5 50 -58 -17 -40 -311 -22 -1,658
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
** Q1-Q4 2021 figures for Philippines have been adjusted due to change in accounting policy for bilateral contracts as disclosed in Note 10 to Q1 2022 condensed interm consolidated financial statements. Revenues and cost of sales are presented in net amounts. Adjustments are NOK 56 million in Q1 2021, NOK 94 million in Q2 2021, NOK 58 million in Q3 2021 and NOK 81 million in Q4 2021
Q1 2021 Philippines** South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina Other Total
NOK million Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 304 129 77 92 69 58 20 19 25 19 17 22 16 868
Cost of sales -24 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 -24
Net revenues * 280 129 77 92 69 58 20 19 25 19 17 22 16 844
OPEX -37 -22 -5 -12 -12 -6 -4 -3 -4 -3 -4 -2 -27 -140
EBITDA * 243 107 72 81 57 52 16 16 21 16 13 20 -11 704
EBITDA margin 68% 83% 94% 88% 83% 89% 80% 86% 85% 86% 78% 89% -67% 76%
Cash flow to equity * 540 34 40 20 22 18 -11 3 13 3 2 7 -11 681
Scatec economic interest 50% 45% 28% 100% 51% 20% 91% 100% 51% 62% 44% 100% - -
Net production (GWh) 168 119 109 90 114 128 15 3 21 14 32 30 11 854
Cash 335 229 175 343 200 87 36 31 38 127 9 41 3 46 1,699
Gross interest bearing debt * 2,854 1,866 894 2,154 1,451 397 863 321 152 392 260 337 308 289 12,537
Net working capital * -93 -111 40 -491 -93 -79 -1,383 -21 18 -62 -16 -6 -296 -10 -2,603
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
** Q1-Q4 2021 figures for Philippines have been adjusted due to change in accounting policy for bilateral contracts as disclosed in Note 10 to Q1 2022 condensed interm consolidated financial statements. Revenues and cost of sales are presented in net amounts. Adjustments are NOK 56 million in Q1 2021, NOK 94 million in Q2 2021, NOK 58 million in Q3 2021 and NOK 81 million in Q4 2021
Q4 2020 Philippines South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina Other Total
NOK million Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 152 79 71 12 11 23 18 18 18 402
Cost of sales - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
OPEX -22 -11 -15 -4 -3 -5 3 -5 -19 -81
EBITDA * 130 68 57 8 8 18 20 13 -1 320
EBITDA margin 86% 86% 79% 66% 72% 76% 114% 74% -8% 80%
Cash flow to equity * 38 2 21 -13 -3 8 6 3 -9 53
Scatec economic interest 45% 100% 51% 91% 100% 51% 62% 44% - -
Net production (GWh) 142 75 105 12 2 17 12 32 10 407
Cash 209 278 229 34 42 58 137 13 12 52 1,065
Gross interest bearing debt * 1,889 2,146 1,451 919 334 158 415 295 304 296 8,205
Net working capital * -59 -482 -146 -706 -37 24 -67 -14 -322 2 -1,808
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q3 2020 Philippines South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina Other Total
NOK million Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 116 75 84 49 45 29 28 20 13 457
Cost of sales - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
OPEX -21 -9 -14 -3 -3 -5 -3 -4 -16 -78
EBITDA * 95 66 71 45 42 24 25 16 -5 379
EBITDA margin 82% 88% 84% 93% 93% 84% 90% 81% -39% 83%
Cash flow to equity * 31 9 30 17 24 15 9 10 -9 134
Scatec economic interest 45% 100% 51% 91% 100% 51% 62% 44% - -
Net production (GWh) 111 66 130 29 8 22 18 35 11 430
Cash 185 316 331 42 67 85 123 31 22 63 1,264
Gross interest bearing debt * 1,848 2,385 1,618 970 356 180 451 299 325 327 8,759
Net working capital * -70 -485 -182 -1,099 -30 25 -62 -15 -340 7 -2,249
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q2 2020 Philippines South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina Other Total
NOK million Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 100 86 91 38 48 29 31 20 15 458
Cost of sales - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
OPEX -20 -12 -12 -3 -3 -4 -11 -4 -15 -84
EBITDA * 80 74 79 35 45 25 20 16 - 374
EBITDA margin 80% 87% 86% 91% 94% 85% 66% 82% -2% 82%
Cash flow to equity * 19 16 34 16 27 15 4 13 -7 135
Scatec economic interest 45% 100% 51% 91% 100% 51% 62% 44% - -
Net production (GWh) 92 71 129 22 9 20 19 33 11 406
Cash 169 468 303 59 56 42 133 29 4 85 1,349
Gross interest bearing debt * 1,854 2,347 1,660 974 355 192 485 320 327 345 8,859
Net working capital * -111 -649 -184 -807 -24 86 -74 -21 -314 -3 -2,102
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q1 2020 Philippines South Africa Uganda Malaysia Egypt Laos Ukraine Czech Republic Honduras Jordan Brazil Vietnam Argentina Other Total
NOK million Hydro Solar Hydro Solar Solar Hydro Solar Solar Solar Solar Solar Wind Solar
Revenues 103 95 73 9 23 31 20 21 17 391
Cost of sales - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0
OPEX -14 -9 -10 -2 -3 -4 -3 -5 -11 -60
EBITDA * 88 86 62 7 20 27 17 16 6 331
EBITDA margin 86% 91% 86% 79% 89% 88% 86% 76% 37% 85%
Cash flow to equity * 29 28 20 -1 6 17 2 4 -1 104
Scatec economic interest 45% 100% 51% 91% 100% 51% 62% 44% - -
Net production (GWh) 73 81 109 6 4 23 13 30 10 349
Cash 171 530 306 98 44 51 160 21 2 87 1,471
Gross interest bearing debt * 2,004 2,616 1,806 1,030 385 214 517 366 346 374 9,658
Net working capital * 42 -650 -220 -604 -27 69 -106 -26 -322 11 -1,836
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Bridge Proportionate to IFRS
Bridge proportionate profit and loss to IFRS Bridge from proportionate to consolidated financials
Q4 2022 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 31-Dec-22 Power plants in operation* Power plants under construction PP overhead, D&C, Services, Corporate, Eliminations Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities
NOK MILLION NOK MILLION Proportionate Consolidated
External revenues 1,268 278 -774 - 773 Cash 2,109 85 1,897 4,091 735 -693 4,132
Internal revenues 727 122 -49 -800 - Gross interest bearing debt * 13,003 1,317 7,987 22,306 6,028 -4,625 23,709
Net income/(loss) from JV and associates - 0 - 220 - 220 Net working capital * -2,993 630 -9 -2,372 -147 948 -1,571
Total revenues and other income 1,995 401 -603 -800 993
Cost of sales -795 -90 266 620 - *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 1,199 310 -337 -180 993
Personnel expenses -149 -2 19 -3 -136
Other operating expenses -265 -59 76 80 -168
EBITDA* 786 249 -243 -104 689
Depreciation and impairment -317 -96 148 35 -231
Operating profit (EBIT) 469 153 -96 -68 458
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Bridge proportionate profit and loss to IFRS Bridge from proportionate to consolidated financials
Q3 2022 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 30-Sep-22 Power plants in operation** Power plants under construction Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 1,316 292 -824 - 784 Cash 2,198 131 655 -873 3,381 5,492
Internal revenues 502 52 -65 -489 - Gross interest bearing debt * 13,886 1,135 6,164 -4,965 8,490 24,710
Net income/(loss) from JV and associates - - 379 - 379 Net working capital * -2,401 715 303 362 -1,052 -2,072
Total revenues and other income 1,818 343 -510 -489 1,163
Cost of sales -580 -49 240 390 - *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 1,237 294 -270 -99 1,163 ** Power plants in operation also include balances related to Release, India and Bangladesh
Personnel expenses -143 -2 15 -5 -135
Other operating expenses -245 53 69 87 -142
EBITDA* 850 239 -187 -17 886
Depreciation and impairment -316 -94 125 44 -241
Operating profit (EBIT) 534 145 -61 26 645
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Bridge proportionate profit and loss to IFRS Bridge from proportionate to consolidated financials
Q2 2022 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 30-Jun-22 Power plants in operation** Power plants under construction Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 1,021 272 -573 - 720 Cash 1,792 17 574 -650 2,052 3,784
Internal revenues 109 8 -13 -104 - Gross interest bearing debt * 13,039 0 4,922 -4,875 7,933 21,019
Net income/(loss) from JV and associates - - 116 - 116 Net working capital * -2,666 -52 -378 425 608 -2,063
Total revenues and other income 1,130 280 -471 -104 836
Cost of sales -226 -6 200 30 - *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 904 275 -269 -73 836 ** Power plants in operation also include balances related to Release, India and Bangladesh
Personnel expenses -155 -3 19 -1 -139
Other operating expenses -232 -57 57 82 -150
EBITDA* 517 215 -193 8 547
Depreciation and impairment -287 -97 122 50 -211
Operating profit (EBIT) 230 118 -69 58 336
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q1 2022 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 31-Mar-22 Power plants in operation** Power plants under construction Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 937 278 -491 - 724 Cash 1,600 13 498 -545 2,620 4,186
Internal revenues 77 6 -11 -72 - Gross interest bearing debt * 12,097 0 4,653 -4,406 7,128 19,471
Net income/(loss) from JV and associates - - 35 - 35 Net working capital * -2,138 -49 -367 270 258 -2,025
Total revenues and other income 1,014 284 -467 -72 759
Cost of sales -211 - 0 208 4 - *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 803 284 -260 -69 759 ** Power plants in operation also include balances related to Release, India and Bangladesh
Personnel expenses -128 -2 15 -2 -117
Other operating expenses -278 -52 51 71 -208
EBITDA* 398 230 -195 - 0 433
Depreciation and impairment -1,170 -127 115 33 -1,149
Operating profit (EBIT) -772 103 -80 33 -716
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q4 2021 PROPORTIONATE FINANCIALS GROUP** RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 31-Dec-21 Power plants in operation Power plants under construction Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 1,073 299 -608 - 762 Cash 1,693 25 605 -579 2,426 4,171
Internal revenues 97 13 -7 -103 - Gross interest bearing debt * 12,056 0 4,354 -4,554 7,265 19,120
Net income/(loss) from JV and associates - - 276 - 276 Net working capital * -1,650 -49 -212 249 313 -1,351
Total revenues and other income 1,169 312 -339 -103 1,039
Cost of sales -118 -10 103 25 - *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 1,051 302 -236 -78 1,039
Personnel expenses -132 -2 15 - -118
Other operating expenses -237 -65 70 86 -146
EBITDA* 683 235 -150 8 775
Depreciation and impairment -283 -82 94 35 -236
Operating profit (EBIT) 399 153 -56 43 539
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
** Q1-Q4 2021 figures for Philippines have been adjusted due to change in accounting policy for bilateral contracts as disclosed in Note 10 to Q1 2022 condensed interm consolidated financial statements. Revenues and cost of sales are presented in net amounts. Adjustments are NOK 56 million in Q1 2021, NOK 94 million in Q2 2021, NOK 58 million in Q3 2021 and NOK 81 million in Q4 2021
Q3 2021 PROPORTIONATE FINANCIALS GROUP** RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 30-Sep-21 Power plants in operation Power plants under construction Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 1,075 304 -533 846 Cash 1,749 13 697 -501 2,373 4,332
Internal revenues 121 7 -8 -121 - Gross interest bearing debt * 12,395 0 4,550 -4,610 7,272 19,607
Net income/(loss) from JV and associates - - 212 212 Net working capital * -1,514 -39 -194 414 524 -808
Total revenues and other income 1,196 311 -329 -121 1,059
Cost of sales -112 - 76 36 - *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 1,084 311 -252 -85 1,059
Personnel expenses -106 -2 10 - -98
Other operating expenses -211 -49 48 78 -134
EBITDA* 767 261 -194 -7 827
Depreciation and impairment -331 -85 111 36 -268
Operating profit (EBIT) 436 176 -83 29 558
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
** Q1-Q4 2021 figures for Philippines have been adjusted due to change in accounting policy for bilateral contracts as disclosed in Note 10 to Q1 2022 condensed interm consolidated financial statements. Revenues and cost of sales are presented in net amounts. Adjustments are NOK 56 million in Q1 2021, NOK 94 million in Q2 2021, NOK 58 million in Q3 2021 and NOK 81 million in Q4 2021
Q2 2021 PROPORTIONATE FINANCIALS GROUP** RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 30-Jun-21 Power plants in operation Power plants under construction Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 884 280 -427 -1 736 Cash 1,608 56 648 -554 2,434 4,192
Internal revenues 123 8 -4 -127 -0 Gross interest bearing debt * 11,928 611 4,596 -4,783 7,179 19,530
Net income/(loss) from JV and associates - 0 - 0 138 - 0 138 Net working capital * -688 -970 -182 526 511 -804
Total revenues and other income 1,007 289 -292 -129 874
Cost of sales -110 - 0 68 42 -0 *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 897 289 -226 -86 874
Personnel expenses -112 -2 11 3 -100
Other operating expenses -184 -45 47 78 -104
EBITDA* 601 242 -168 -5 670
Depreciation and impairment -236 -85 86 35 -200
Operating profit (EBIT) 364 157 -82 30 470
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
** Q1-Q4 2021 figures for Philippines have been adjusted due to change in accounting policy for bilateral contracts as disclosed in Note 10 to Q1 2022 condensed interm consolidated financial statements. Revenues and cost of sales are presented in net amounts. Adjustments are NOK 56 million in Q1 2021, NOK 94 million in Q2 2021, NOK 58 million in Q3 2021 and NOK 81 million in Q4 2021
Q1 2021 PROPORTIONATE FINANCIALS GROUP** RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 31-Mar-21 Power plants in operation Power plants under construction Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 868 279 -454 - 0 693 Cash 1,683 15 674 -608 3,020 4,783
Internal revenues 85 6 -3 -88 - 0 Gross interest bearing debt * 11,943 594 4,589 -4,713 7,114 19,527
Net income/(loss) from JV and associates - 0 - 0 138 - 0 138 Net working capital * -1,411 -1,192 -479 444 190 -2,449
Total revenues and other income 953 284 -319 -87 831
Cost of sales -47 - 0 24 23 - 0 *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 907 284 -295 -64 831
Personnel expenses -99 -2 12 7 -82
Other operating expenses -172 -50 43 60 -118
EBITDA* 636 232 -240 3 631
Depreciation and impairment -230 -78 77 44 -187
Operating profit (EBIT) 406 153 -162 47 444
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
** Q1-Q4 2021 figures for Philippines have been adjusted due to change in accounting policy for bilateral contracts as disclosed in Note 10 to Q1 2022 condensed interm consolidated financial statements. Revenues and cost of sales are presented in net amounts. Adjustments are NOK 56 million in Q1 2021, NOK 94 million in Q2 2021, NOK 58 million in Q3 2021 and NOK 81 million in Q4 2021
Q4 2020 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 31-Dec-20 Total proportionate Solar plants Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 406 301 -18 -1 688 Cash 1,065 740 -54 6,037 7,788
Internal revenues 92 6 -4 -95 - 0 Gross interest bearing debt * 8,205 5,339 -1,281 748 13,011
Net income/(loss) from JV and associates - 0 - 0 -8 - 0 -8 Net working capital * -1,808 -599 675 402 -1,330
Total revenues and other income 497 307 -29 -96 679
Cost of sales -40 - 0 3 37 - 0 *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 457 307 -27 -58 679
Personnel expenses -71 -1 2 -7 -78
Other operating expenses -163 -47 8 48 -153
EBITDA* 223 259 -17 -17 448
Depreciation and impairment -160 -82 7 31 -204
Operating profit (EBIT) 63 177 -10 14 244
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q3 2020 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 30-Sep-20 Total proportionate Solar plants Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 463 290 -19 -2 731 Cash 1,264 877 -115 1,976 4,002
Internal revenues 93 6 -4 -95 - 0 Gross interest bearing debt * 8,759 5,575 -1,334 747 13,748
Net income/(loss) from JV and associates - 0 - 0 -7 - 0 -7 Net working capital * -2,249 -797 715 483 -1,850
Total revenues and other income 556 296 -30 -97 724
Cost of sales -25 - 0 - 0 25 - 0 *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 530 296 -30 -72 724
Personnel expenses -71 -1 2 -1 -71
Other operating expenses -140 -50 6 68 -116
EBITDA* 319 245 -22 -4 538
Depreciation and impairment -161 -82 7 41 -195
Operating profit (EBIT) 159 163 -16 37 343
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q2 2020 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 30-Jun-20 Total proportionate Solar plants Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 467 282 -20 -7 722 Cash 1,349 792 -74 2,002 4,069
Internal revenues 458 129 -7 -580 - 0 Gross interest bearing debt * 8,859 5,717 -1,385 747 13,937
Net income/(loss) from JV and associates - 0 - 0 3 - 0 3 Net working capital * -2,102 -796 677 721 -1,501
Total revenues and other income 925 411 -24 -588 725
Cost of sales -330 -115 8 437 - 0 *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 596 297 -16 -152 725
Personnel expenses -61 - 0 2 1 -59
Other operating expenses -119 -56 6 83 -86
EBITDA* 417 241 -8 -69 580
Depreciation and impairment -155 -87 7 32 -203
Operating profit (EBIT) 262 154 -1 -38 377
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q1 2020 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTEREST FULLY CONSOLIDATED ENTITIES ELIMINATION OF EQUITY CONSOLIDATED ENTITIES OTHER ELIMINATIONS IFRS FINANCIALS 31-Mar-20 Total proportionate Solar plants Residual ownership interest for fully consolidated entities Elimination of equity consolidated entities PP overhead, D&C, Services, Corporate, Eliminations
NOK MILLION NOK MILLION Consolidated
External revenues 391 259 -20 - 0 630 Cash 1,471 845 -53 795 3,058
Internal revenues 475 169 -10 -633 - 0 Gross interest bearing debt * 9,658 6,220 -1,528 746 15,096
Net income/(loss) from JV and associates - 0 - 0 -5 - 0 -5 Net working capital * -1,836 -567 705 598 -1,100
Total revenues and other income 866 428 -35 -633 625
Cost of sales -368 -156 6 518 - 0 *Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Gross profit* 497 271 -29 -114 625
Personnel expenses -56 - 1 1 -54
Other operating expenses -95 -36 6 56 -69
EBITDA* 346 235 -22 -57 503
Depreciation and impairment -140 -70 8 26 -175
Operating profit (EBIT) 206 165 -13 -30 328
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Tables from 2016 to 2019 on old format (elimination of equity consolidated entities included in eliminations column)
Q4 2019 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 365 237 -36 565
Internal revenues 1,278 271 -1,549 - 0
Net income/(loss) from JV and associates - 0 - 0 3 3
Total revenues and other income 1,642 508 -1,582 568
Cost of sales -1,056 -138 1,194 - 0
Gross profit * 586 369 -388 568
Personnel expenses -52 9 -6 -49
Other operating expenses -100 -74 93 -82
EBITDA * 434 304 -301 436
Depreciation and impairment -171 -98 104 -165
Operating profit (EBIT) 263 206 -197 271
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q3 2019 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 343 222 -34 532
Internal revenues 1,179 18 -1,197 - 0
Net gain/(loss) from sale of project assets - 0 - 0 - - 0
Net income/(loss) from JV and associates - 0 - 0 -20 -20
Total revenues and other income 1,522 240 -1,251 512
Cost of sales -958 -36 994 - 0
Gross profit * 565 204 -257 512
Personnel expenses -44 - 0 2 -42
Other operating expenses -87 -23 57 -52
EBITDA * 433 182 -197 418
Depreciation and impairment -116 -79 47 -148
Operating profit (EBIT) 317 103 -150 270
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q2 2019 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 260 161 -38 382
Internal revenues 1,388 69 -1,457 - 0
Net gain/(loss) from sale of project assets - 0 - 0 - - 0
Net income/(loss) from JV and associates - 0 - 0 -7 -7
Total revenues and other income 1,648 230 -1,502 376
Cost of sales -1,149 -50 1,198 - 0
Gross profit * 500 180 -305 376
Personnel expenses -38 - 0 3 -35
Other operating expenses -73 -26 48 -51
EBITDA * 388 154 -253 290
Depreciation and impairment -90 -76 64 -101
Operating profit (EBIT) 298 79 -190 188
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q1 2019 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 197 172 -38 331
Internal revenues 1,331 6 -1,337 - 0
Net gain/(loss) from sale of project assets - 0 - 0 - 0 - 0
Net income/(loss) from JV and associates - 0 - 0 -4 -4
Total revenues and other income 1,528 178 -1,379 327
Cost of sales -1,112 -7 1,119 - 0
Gross profit * 417 170 -261 327
Personnel expenses -39 5 -2 -36
Other operating expenses -62 - 0 14 -49
EBITDA * 315 175 -249 242
Depreciation and impairment -82 -79 64 -97
Operating profit (EBIT) 233 97 -185 145
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q4 2018 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 170 142 - 0 311
Internal revenues 1,497 111 -1,608 - 0
Net gain/(loss) from sale of project assets - 0 - 0 - 0 - 0
Net income/(loss) from JV and associates -0 - 0 33 33
Total revenues and other income 1,666 253 -1,575 344
Cost of sales -1,233 -13 1,246 - 0
Gross profit * 432 240 -329 344
Personnel expenses -39 -0 1 -38
Other operating expenses -64 -4 19 -49
EBITDA * 329 236 -309 257
Depreciation and impairment -54 -34 17 -71
Operating profit (EBIT) 276 203 -292 187
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q3 2018 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 146 138 - 283
Internal revenues 1,113 78 -1,191 - 0
Net gain/(loss) from sale of project assets - 0 - - - 0
Net income/(loss) from JV and associates - 0 - 11 11
Total revenues and other income 1,259 216 -1,181 294
Cost of sales -917 1 916 - 0
Gross profit * 342 217 -265 294
Personnel expenses -31 - - -32
Other operating expenses -54 -17 29 -42
EBITDA * 257 200 -236 221
Depreciation and impairment -57 -37 15 -78
Operating profit (EBIT) 200 163 -220 143
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q2 2018 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 142 131 - 0 273
Internal revenues 1,086 56 -1,142 - 0
Net gain/(loss) from sale of project assets - 0 - 0 - 0 - 0
Net income/(loss) from JV and associates - 0 - 0 13 13
Total revenues and other income 1,229 186 -1,129 286
Cost of sales -878 4 874 - 0
Gross profit * 351 190 -254 286
Personnel expenses -33 -0 0 -33
Other operating expenses -51 -23 34 -41
EBITDA * 266 167 -221 212
Depreciation and impairment -40 -38 17 -62
Operating profit (EBIT) 226 129 -204 150
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q1 2018 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 126 157 - 0 283
Internal revenues 446 37 -483 - 0
Net gain/(loss) from sale of project assets - 0 - 0 - 0 - 0
Net income/(loss) from JV and associates - 0 - 0 6 6
Total revenues and other income 572 194 -477 289
Cost of sales -376 3 373 - 0
Gross profit * 196 197 -104 289
Personnel expenses -31 -0 0 -31
Other operating expenses -56 -8 18 -45
EBITDA * 109 189 -86 212
Depreciation and impairment -38 -39 14 -63
Operating profit (EBIT) 71 150 -72 150
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q4 2017 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 126 160 286
Internal revenues 321 27 -348 - 0
Net gain/(loss) from sale of project assets 3 - 0 - 0 3
Net income/(loss) from JV and associates -5 2 -4 -7
Total revenues and other income 444 189 -352 281
Cost of sales -256 22 234 - 0
Gross profit * 188 211 -118 281
Personnel expenses -30 - 0 2 -29
Other operating expenses -53 -15 23 -45
EBITDA * 106 196 -93 207
Depreciation and impairment -39 -37 16 -60
Operating profit (EBIT) 66 159 -77 148
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q3 2017 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 139 141 - 0 280
Internal revenues 411 - 0 -411 - 0
Net gain/(loss) from sale of project assets 375 - 0 - 0 375
Net income/(loss) from JV and associates -0 0 - 0 - 0
Total revenues and other income 924 141 -411 655
Cost of sales -356 - 0 356 - 0
Gross profit * 569 141 -55 655
Personnel expenses -27 - 0 0 -27
Other operating expenses -41 -18 25 -34
EBITDA * 500 124 -29 595
Depreciation and impairment -39 -37 16 -60
Operating profit (EBIT) 461 86 -13 534
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q2 2017 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 143 136 - 0 279
Internal revenues 24 - 0 -24 - 0
Net gain/(loss) from sale of project assets - 0 - 0 - 0 - 0
Net income/(loss) from JV and associates -0 - 0 - 0 -0
Total revenues and other income 167 136 -24 279
Cost of sales - 0 - 0 - 0 - 0
Gross profit * 167 136 -24 279
Personnel expenses -27 -0 0 -27
Other operating expenses -40 -19 24 -35
EBITDA * 100 117 0 217
Depreciation and impairment -42 -42 18 -66
Operating profit (EBIT) 57 76 18 151
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q1 2017 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 125 151 - 0 277
Internal revenues 19 - 0 -19 - 0
Net gain/(loss) from sale of project assets - 0 - 0 - 0 - 0
Net income/(loss) from JV and associates -0 - 0 - 0 -0
Total revenues and other income 144 151 -19 276
Cost of sales - 0 - 0 - 0 - 0
Gross profit * 144 151 -19 276
Personnel expenses -24 -0 0 -24
Other operating expenses -33 -16 20 -30
EBITDA * 87 135 - 0 222
Depreciation and impairment -40 -39 17 -62
Operating profit (EBIT) 47 97 17 160
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q4 2016 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 130 160 - 0 290
Internal revenues 17 - 0 -17 - 0
Net gain/(loss) from sale of project assets 7 - 0 67 74
Net income/(loss) from JV and associates -0 - 0 - 0 -0
Total revenues and other income 153 160 51 363
Cost of sales -0 - 0 0 - 0
Gross profit * 152 160 51 363
Personnel expenses -19 - 0 - 0 -19
Other operating expenses -51 -16 17 -51
EBITDA * 83 144 67 294
Depreciation and impairment -94 -39 49 -84
Operating profit (EBIT) -11 105 116 210
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q3 2016 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 150 130 1 281
Internal revenues 59 - 0 -59 - 0
Net gain/(loss) from sale of project assets - 0 - 0 - 0 - 0
Net income/(loss) from JV and associates -0 - 0 - 0 -0
Total revenues and other income 209 130 -58 281
Cost of sales -37 - 0 37 - 0
Gross profit * 172 130 -21 281
Personnel expenses -21 0 - 0 -21
Other operating expenses -41 -19 21 -38
EBITDA * 111 111 0 222
Depreciation and impairment -48 -36 16 -68
Operating profit (EBIT) 63 75 16 154
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q2 2016 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 116 98 0 214
Internal revenues 322 - 0 -322 - 0
Net gain/(loss) from sale of project assets 1 - 0 - 0 1
Net income/(loss) from JV and associates -2 - 0 - 0 -2
Total revenues and other income 437 98 -322 213
Cost of sales -275 - 0 275 - 0
Gross profit * 162 98 -47 213
Personnel expenses -24 -0 - 0 -24
Other operating expenses -39 -16 17 -37
EBITDA * 100 82 -29 153
Depreciation and impairment -44 -30 15 -60
Operating profit (EBIT) 55 51 -14 93
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Q1 2016 PROPORTIONATE FINANCIALS GROUP RESIDUAL OWNERSHIP INTERESTS ELIMINATIONS IFRS FINANCIALS
NOK MILLION
External revenues 103 125 1 228
Internal revenues 273 - 0 -273 - 0
Net gain/(loss) from sale of project assets 0 - 0 0 0
Net income/(loss) from JV and associates -1 - 0 0 -1
Total revenues and other income 375 125 -272 228
Cost of sales -228 - 0 228 - 0
Gross profit * 148 125 -45 228
Personnel expenses -23 -0 0 -23
Other operating expenses -41 -13 15 -39
EBITDA * 83 112 -30 165
Depreciation and impairment -44 -31 16 -59
Operating profit (EBIT) 40 82 -14 107
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
IFRS Financials
IFRS financials
Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
NOK MILLION
External revenues 228.2 214.4 280.7 289.6 276.5 279.0 279.7 285.8 283 273 283 311 331 382 532 565 630 722 731 688 693 736 846 762 724 720 784 773
Net gain/(loss) from sale of project assets 0.2 1.4 - 0 73.8 - 0 - 0 375.2 2.6 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - - - 0 - - 0 - 0 - - - - 0 - 0 - - 0
Net income/(loss) from associated companies -0.6 -2.4 -0.1 -0.2 -0.3 -0.1 0.0 -7.0 6 13 11 33 -4 -7 -20 3 -5 3 -7 -8 138 138 212 276 35 116 379 220
Total revenues and other income 227.9 213.4 280.6 363.1 276.3 278.9 654.9 281.5 289 286 294 344 327 376 512 568 625 725 724 679 831 874 1,059 1,039 759 836 1,163 993
Cost of sales - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - - - 0 - - 0 - 0 - - - - 0 - 0 - - 0
Gross profit * 227.9 213.4 280.6 363.1 276.3 278.9 654.9 281.5 289 286 294 344 327 376 512 568 625 725 724 679 831 874 1,059 1,039 759 836 1,163 993
Personnel expenses -23.3 -23.7 -20.5 -18.7 -24.3 -27.2 -26.8 -28.7 -32 -35 -32 -38 -36 -35 -42 -49 -54 -59 -71 -78 -82 -100 -98 -118 -117 -139 -135 -136
Other operating expenses -39.4 -37.1 -38.4 -50.8 -29.7 -34.6 -33.6 -45.4 -44 -39 -42 -49 -49 -51 -52 -82 -69 -86 -116 -153 -118 -104 -134 -146 -208 -150 -142 -168
EBITDA* 165.2 152.6 221.7 293.6 222.3 217.0 594.5 207.4 212 212 221 257 242 290 418 436 503 580 538 448 631 670 827 775 433 547 886 689
Depreciation, amortisation and impairment -58.6 -59.6 -68.1 -83.7 -62.0 -66.0 -60.3 -59.8 -63 -62 -78 -71 -97 -101 -148 -165 -175 -203 -195 -204 -187 -200 -268 -236 -1,149 -211 -241 -231
Operating profit (EBIT) 106.6 93.0 153.6 209.9 160.3 151.1 534.3 147.6 150 150 143 187 145 188 270 271 328 377 343 244 444 470 558 539 -716 336 645 458
Net financial expenses -141.1 -87.0 -141.5 -94.4 -122.5 -151.7 -122.5 -135.6 -133 2 -83 -92 -120 -162 -183 -226 82 -454 -333 -825 -344 -279 -328 -301 -295 -380 -268 -875
Profit before income tax -34.6 6.0 12.1 115.5 37.8 -0.7 411.8 12.0 16 152 60 95 25 27 87 45 410 -77 10 -581 100 191 230 238 -1,011 -44 377 -417
Income tax (expense)/benefit 11.6 -0.5 -0.9 -38.7 -6.7 2.2 -5.0 -13.4 -4 -50 -24 -19 -13 -6 -20 10 -111 -4 -34 19 -59 -81 -61 -102 -50 -24 -42 -16
Profit/(loss) for the period -23.0 5.5 11.2 76.8 31.0 1.5 406.8 -1.4 12 102 36 76 12 21 66 56 299 -81 -24 -561 42 110 169 136 -1,062 -68 335 -433
Profit/(loss) attributable to:
Equity holders of the parent -46.2 4.6 -1.1 46.2 3.63 -12.7 383.0 -34.9 -18 98 14 45 -33 -25 31 -12 235 -98 -57 -558 18 93 131 146 -1,133 -97 255 -359
Non-controlling interests 23.2 0.9 12.3 30.5 27.41 14.1 23.8 33.5 30 4 22 31 45 45 36 68 64 17 33 -3 24 17 38 -11 71 29 80 -74
-23.0 5.5 11.2 76.8 31.04 1.5 406.8 -1.4 12 102 36 76 12 21 66 56 299 -81 -24 -561 42 110 169 136 -1,062 -68 335 -433
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
Proportinate per segment
Proportinate Financials per segment
HISTORICAL PRPORTIONATE FINANCIALS WITH 2016-2019 SEGMENT STRUCTURE PROPORTIONATE FINANCIALS WITH NEW SEGMENT STRUCTURE
Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2019 restated Q2 2019 restated Q3 2019 restated Q4 2019 restated Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021** Q2 2021** Q3 2021** Q4 2021** Q1 2022 Q2 2022 Q3 2022 Q4 2022
GROUP PROPORTIONATE FINANCIALS No change in total group proportionate in restated segment financials for 2019
NOK MILLION
External revenues ** 103 116 150 130 125 143 139 126 126 142 146 169 197 260 343 365 197 260 343 365 391 467 463 406 868 884 1,075 1,073 937 1,021 1,316 1,268
Internal revenues 273 322 59 17 19 24 411 321 446 1,086 1,113 1,497 1,331 1,388 1,179 1,278 1,331 1,388 1,179 1,278 475 458 93 92 85 123 121 97 77 109 502 727
Net income from JV and associated companies -1 -2 -0 -0 -0 -0 -0 -5 - 0 - 0 - 0 -0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - - - 0 - 0 - - - - 0 - 0 - - 0
Total revenues and other income 375 437 209 153 144 167 924 444 572 1,229 1,259 1,666 1,528 1,648 1,522 1,642 1,528 1,648 1,522 1,642 866 925 556 497 953 1,007 1,196 1,169 1,014 1,130 1,818 1,995
Cost of sales ** -228 -275 -37 -0 - 0 - 0 -356 -256 -376 -878 -917 -1,233 -1,112 -1,149 -958 -1,056 -1,112 -1,149 -958 -1,056 -368 -330 -25 -40 -47 -110 -112 -118 -213 -226 -580 -795
Gross profit * 148 162 172 152 144 167 569 188 196 351 342 432 417 500 565 586 417 500 565 586 497 596 530 457 906 897 1,084 1,051 -801 904 1,237 1,199
Personnel expenses -23 -24 -21 -19 -24 -27 -27 -30 -32 -35 -31 -39 -39 -38 -44 -52 -39 -38 -44 -52 -56 -61 -71 -71 -99 -112 -106 -132 -128 -155 -143 -149
Other operating expenses -41 -39 -41 -51 -33 -40 -41 -52 -55 -50 -54 -64 -62 -73 -87 -100 -62 -73 -87 -100 -95 -119 -140 -163 -172 -184 -211 -237 -278 -232 -245 -265
EBITDA* 83 100 111 83 87 100 500 106 109 266 257 329 315 388 433 434 315 388 433 434 346 417 319 223 636 601 767 683 396 517 850 786
Depreciation, amortisation and impairment -44 -44 -48 -94 -40 -42 -39 -39 -38 -40 -57 -53 -82 -90 -116 -171 -82 -90 -116 -171 -140 -155 -161 -160 -230 -236 -331 -283 -1,170 -287 -316 -317
Operating profit (EBIT) 40 55 63 -11 47 57 461 66 71 226 200 276 233 298 317 263 233 298 317 263 206 262 159 63 406 364 436 399 -774 230 534 469
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
** Q1-Q4 2021 figures for Philippines have been adjusted due to change in accounting policy for bilateral contracts as disclosed in Note 10 to Q3 2022 condensed interm consolidated financial statements. Revenues and cost of sales are presented in net amounts. Adjustments are NOK 56 million in Q1 2021, NOK 94 million in Q2 2021, NOK 58 million in Q3 2021 and NOK 81 million in Q4 2021
POWER PRODUCTION PROPORTIONATE FINANCIALS Q1 2019 restated Q2 2019 restated Q3 2019 restated Q4 2019 restated Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021** Q2 2021** Q3 2021** Q4 2021** Q1 2022 Q2 2022 Q3 2022 Q4 2022
NOK MILLION
External revenues ** 103 116 150 130 125 143 139 126 126 142 146 169 197 258 343 365 197 258 343 365 391 458 457 402 868 875 1,072 1,073 933 1,010 1,311 1,258
Internal revenues 2 2 2 6 11 7 9 11 12 14 14 14 - 0 - 0 - 0 - 0 - - - - 0 - 0 - 0 - - -0 5 - 0 4
Net income from JV and associated companies - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - - 0 - 0 - 0 - 0 - - - - 0 - 0 - 0 - - - - - - 0
Total revenues and other income 103 116 150 130 127 145 141 131 137 150 155 180 208 272 357 379 197 258 343 365 391 458 457 402 868 875 1,072 1,073 933 1,015 1,311 1,262
Cost of sales ** - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - - - 0 - 0 - 0 - 0 - 0 - 0 - 0 - - 0 -23 -67 -74 -104 -208 -204 -210 -230
Gross profit * 103 116 150 130 127 145 141 131 137 150 155 180 208 271 357 379 197 258 343 365 391 458 457 402 844 808 999 968 725 810 1,101 1,032
Personnel expenses -3 -3 -3 -3 -4 -4 -4 -4 -4 -4 -3 -6 -7 -8 -9 -9 -5 -5 -5 -6 -5 -5 -9 -8 -24 -23 -23 -29 -23 -33 -30 -39
Other operating expenses -18 -19 -22 -23 -16 -20 -18 -21 -27 -25 -26 -35 -33 -43 -52 -61 -28 -37 -47 -55 -55 -78 -69 -74 -116 -126 -153 -176 -213 -160 -164 -172
EBITDA* 82 94 125 104 108 121 119 107 106 121 127 139 168 221 296 309 164 216 291 304 331 374 379 320 704 660 823 763 489 617 907 821
Depreciation, amortisation and impairment -41 -39 -46 -91 -39 -41 -38 -39 -36 -39 -38 -52 -67 -83 -107 -155 -67 -83 -107 -155 -125 -144 -149 -149 -221 -227 -272 -252 -1,044 -277 -291 -306
Operating profit (EBIT) 41 55 79 13 69 80 81 68 70 82 89 88 101 138 190 154 97 133 184 149 206 230 230 171 483 432 551 511 -555 340 616 515
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
** Q1-Q4 2021 figures for Philippines have been adjusted due to change in accounting policy for bilateral contracts as disclosed in Note 10 to Q1 2022 condensed interm consolidated financial statements. Revenues and cost of sales are presented in net amounts. Adjustments are NOK 56 million in Q1 2021, NOK 94 million in Q2 2021, NOK 58 million in Q3 2021 and NOK 81 million in Q4 2021
OPERATION & MAINTENANCE * From 2020 Operations & Maintenance is reported in the new segment "Services". Restatement of 2019 is not applicable.
NOK MILLION
External revenues 1 - 0 1 - - - - - - - - - 0 - - - 1 - - - -
Internal revenues 12 15 19 14 15 20 20 15 14 30 22 15 17 29 35 33 - - - -
Net gain/(loss) from sale of project assets - - - - - - - - - - - - - - - -
Net income/(loss) from JV and associates - - - - - - - - - - - - - - - -
Total revenues and other income 13 16 20 14 15 20 20 15 14 30 22 15 17 29 35 34 - - - -
Cost of sales - - - - - - - - - - - - - - - -
Gross profit 13 16 20 14 15 20 20 15 14 30 22 15 17 29 35 34 - - - -
Personnel expenses -3 -3 -3 -2 -3 -3 -4 -4 -5 -5 -6 -7 -7 -7 -9 -10 - - - -
Other operating expenses -5 -4 -4 -7 -6 -6 -7 -7 -7 -6 -5 -6 -8 -8 -8 -13 - - - -
EBITDA 6 9 12 5 5 10 9 4 2 19 11 2 3 14 18 11 - - - -
Depreciation, amortisation and impairment -1 -1 -1 -1 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 -1 -1 -1 -1 - - - -
Operating profit (EBIT) 5 8 12 4 5 10 9 4 2 19 11 2 2 13 17 10 - - - -
* from 2020 Operations & Maintenance is reported in the new segment "Services"
SERVICES Q1 2019 restated Q2 2019 restated Q3 2019 restated Q4 2019 restated Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
NOK MILLION
External revenues - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 1 - 0 0 - 1 1 1 1 1 2 5 4 8
Internal revenues - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 29 42 49 47 52 73 60 44 55 67 69 65 63 75 78 77
Net income from JV and associated companies - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - - 0 - 0 - 0 - - - 0 - 0 - - 0
Total revenues and other income - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 29 42 49 48 52 73 60 45 56 68 69 66 66 79 82 85
Cost of sales - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 0 - - 0 - 0 - 0 - - -0 1 - 0 -0
Gross profit * - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 29 42 49 48 52 73 60 45 56 68 70 66 65 81 82 84
Personnel expenses - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 -9 -10 -12 -14 -17 -21 -18 -19 -22 -23 -25 -26 -26 -31 -32 -31
Other operating expenses - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 -13 -14 -14 -18 -19 -18 -21 -17 -17 -21 -23 -29 -23 -29 -28 -38
EBITDA * - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 7 19 23 16 16 34 22 10 17 24 22 11 16 20 22 16
Depreciation, amortisation and impairment - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -1 -2 -1 -2
Operating profit (EBIT) - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 6 18 22 15 15 33 21 9 16 23 21 10 15 18 21 14
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
DEVELOPMENT & CONSTRUCTION No change for Development and Constuction in restated proportionate financials for 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
NOK MILLION
External revenues - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 2 - 0 - 0 - 0 2 - 0 - 0 - 0 6 5 1 - 0 2 1 - - 5 -1 1
Internal revenues 258 304 37 0 0 385 296 417 1,045 1,077 1,466 1,297 1,337 1,121 1,222 1,297 1,337 1,121 1,222 414 377 25 45 24 49 43 18 5 20 412 627
Net income from JV and associated companies -1 -2 -0 -0 -0 -0 -0 -5 - 0 - 0 - 0 -1 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 0 - - 0 - 0 - - - - - 0 - - 0
Total revenues and other income 257 304 37 6 -0 -0 760 294 417 1,045 1,077 1,466 1,297 1,339 1,121 1,222 1,297 1,339 1,121 1,222 414 383 30 46 24 51 43 18 5 25 412 628
Cost of sales -228 -275 -37 -0 - 0 - 0 -356 -256 -376 -878 -917 -1,233 -1,112 -1,149 -958 -1,056 -1,112 -1,149 -958 -1,056 -369 -329 -26 -40 -24 -43 -39 -14 -4 -23 -370 -565
Gross profit * 30 28 -0 6 -0 -0 405 38 42 167 160 232 185 190 163 166 185 190 163 166 46 53 4 6 - 0 7 4 4 - 3 41 62
Personnel expenses -10 -10 -7 -8 -8 -11 -10 -13 -13 -15 -13 -13 -14 -13 -13 -20 -14 -13 -13 -20 -19 -20 -21 -25 -36 -40 -36 -50 -53 -57 -56 -50
Other operating expenses -12 -7 -7 -16 -7 -7 -11 -15 -13 -11 -17 -17 -13 -12 -18 -15 -13 -12 -18 -15 -11 -13 -10 -18 -24 -21 -21 -11 -23 -26 -31 -32
EBITDA * 8 12 -14 -18 -15 -18 384 10 15 140 130 202 159 165 133 132 159 165 133 132 15 22 -27 -38 -60 -54 -53 -57 -75 -81 -45 -20
Depreciation, amortisation and impairment -2 -5 -2 -2 -1 -1 -1 -1 -1 -1 -18 -1 -13 -5 -7 -13 -13 -5 -7 -13 -10 -4 -7 -5 -2 -2 -52 -22 -118 -0 -17 -1
Operating profit (EBIT) 5 7 -16 -20 -16 -18 383 9 15 139 113 201 146 160 125 119 146 160 125 119 5 17 -33 -43 -62 -56 -105 -79 -193 -81 -63 -22
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)
CORPORATE * no change for Corporate in restated proportionate financials for 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
NOK MILLION
External revenues - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 2 2 1 - 0 6 2 -2 1 2 2 2
Internal revenues 2 2 2 3 3 3 3 4 4 4 4 5 6 9 9 7 6 9 9 7 8 9 7 4 6 7 9 14 9 10 12 19
Net income from JV and associated companies - 0 - 0 - 0 - 0 - 0 - 0 - 0 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 0 - - - 0 - 0 - - - - 0 - - 0
Total revenues and other income 2 2 2 3 3 3 3 4 4 4 4 5 6 9 9 7 6 9 9 7 8 11 9 5 6 13 11 11 10 12 13 21
Cost of sales - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - 0 - - - 0 - 0 - - - 0 - 0 - - 0 - 0 - 0 - - - 0 - 0 1
Gross profit * 2 2 2 3 3 3 3 4 4 4 4 5 6 9 9 7 6 9 9 7 8 11 9 5 6 13 11 11 10 12 13 21
Personnel expenses -7 -8 -8 -6 -9 -9 -9 -8 -10 -10 -10 -13 -11 -10 -14 -13 -11 -10 -14 -13 -14 -14 -24 -20 -17 -26 -22 -26 -27 -33 -25 -28
Other operating expenses -7 -9 -7 -6 -4 -7 -5 -11 -8 -8 -6 -6 -9 -10 -9 -12 -9 -10 -9 -12 -10 -10 -40 -53 -14 -16 -14 -20 -18 -18 -22 -23
EBITDA * -12 -15 -13 -8 -11 -14 -11 -15 -14 -14 -11 -14 -14 -11 -14 -18 -14 -11 -14 -18 -16 -13 -54 -69 -25 -28 -25 -35 -34 -39 -34 -30
Depreciation, amortisation and impairment -0 -0 -0 -0 -0 -0 -0 -0 -0 -0 -1 -1 -1 -2 -1 -2 -1 -2 -1 -2 -5 -5 -5 -5 -6 -6 -6 -8 -7 -7 -6 -9
Operating profit (EBIT) -12 -15 -13 -9 -11 -14 -11 -15 -14 -14 -12 -15 -16 -13 -16 -20 -16 -13 -16 -20 -21 -18 -59 -74 -31 -35 -31 -42 -40 -47 -40 -39
*Reference is given to the quarterly report for a definition of Alternative Performance Measures (APM)

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Scatec ASA published this content on 03 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2023 08:07:05 UTC.