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    SSO   NO0010715139

SCATEC ASA

(SSO)
  Report
Real-time Quote. Real-time Oslo Bors - 01/19 09:09:22 am
131.85 NOK   -1.16%
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Third quarter 2021: Strong operational performance

10/29/2021 | 01:00am EST

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, or this direct link: Scatec webcast Q3 2021

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

For media: Stian Tvede Karlsen, Communications Manager, tel: +47 920 67 460, 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, or connect with us on Linkedin.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Attachments


© OMX, source GlobeNewswire - EU Press Releases

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Financials
Sales 2021 3 862 M 441 M 441 M
Net income 2021 338 M 38,6 M 38,6 M
Net Debt 2021 15 444 M 1 765 M 1 765 M
P/E ratio 2021 62,8x
Yield 2021 1,17%
Capitalization 21 183 M 2 406 M 2 421 M
EV / Sales 2021 9,49x
EV / Sales 2022 9,37x
Nbr of Employees 500
Free-Float 73,0%
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Technical analysis trends SCATEC ASA
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 133,40 NOK
Average target price 177,86 NOK
Spread / Average Target 33,3%
EPS Revisions
Managers and Directors
Raymond Carlsen Chief Executive Officer
Mikkel T°rud Chief Financial Officer
John Andersen Chairman
Jan Steffen Skogseth Independent Director
Liv GisŔle Marchand Independent Director
Sector and Competitors