Second quarter results 2022

26 July 2022: Today, our CEO, Terje Pilskog and CFO, Mikkel Tørud present our Q2 and first half results. 

“We reported solid operating results from our diversified portfolio of power plants during the second quarter and power production increased seven per cent compared to last year. We continue to see good availability and performance across the asset portfolio,” says Scatec CEO Terje Pilskog.

“In July, we reached two major milestones in our key markets South Africa and Brazil, and Scatec is now accelerating activities on three projects. Going forward, our top priority is to ramp up construction activities, optimise returns of our backlog projects and continue to mature our pipeline. Furthermore, we continue to develop our strategy to ensure we are in the best possible position to both grow in the short term and capture longer term opportunities,” concludes Pilskog.

 

Stock exchange notice

Stable operations and ramping up for construction

  • Proportionate revenues of NOK 1,130 million (1,007) and EBITDA1) of NOK 517 million (601)
  • Solid performance with production increase of 7%
  • Construction of new power plants started in South Africa, Brazil and Pakistan
  • Power-to-X progressing well
    • Term sheet with Yara for offtake in Oman
    • 100 MW green hydrogen in Egypt moved into backlog
1) EBITDA and other alternative performance measures (APMs) are defined and reconciled as a part of the APM section of the first quarter 2022 report on pages 31-34.

Q2 presentation 2022

Financial webcast