Fourth quarter results 2024

26 January 2024: Today, our CEO, Terje Pilskog and CFO, Hans Jakob Hegge present our Q4 results. 

“Throughout 2023 we delivered on our strategy, and I am proud of the achievements by our global team.  EBITDA from our operating assets reached NOK 3.2 billion and we generated 3.6 TWh of clean energy with no lost time incidents, while our power plants helped to avoid 3.9 million tonnes of greenhouse gas emissions,” says Scatec CEO Terje Pilskog.

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A year of delivering on strategy, record construction activity at attractive margins in 2023

  • Proportionate EBITDA increased to NOK 808 million
  • D&C margin of 15%
  • Finalised construction of Kenhardt – NOK 40 million EBITDA recognised in Q4
  • Initial works started for 273 MW in South Africa and 60 MW in Botswana – EPC revenues of NOK 2.5 billion secured
  • Awarded first battery project in South Africa of 103 MW/412 MWh – estimated EPC revenues of NOK 1.4 billion
  • Delivering on divestment plan – closed sale of Mozambique and signed agreement to divest Rwanda
  • New milestone for Release – raised USD 100 million loan + USD 65 million guarantee from IFC
  • Agreed refinancing terms for USD 150 million Green Term Loan with new maturity in Q4’27

Financial webcast

Fourth quarter presentation