Second quarter results 2023
18 August 2023: Today, our CEO, Terje Pilskog and CFO, Hans Jakob Hegge present our Q2 results.
“It has been a busy quarter with a lot of advancement for our business and I am pleased to see construction activities on all three of our large projects continue to progress according to plan. During the quarter, we continued to execute on our strategy that we presented to the market almost a year ago. We closed the NOK 546 million divestment of the Upington solar plants in South Africa and reached financial close for the NOK 2.9 billion Grootfontein solar project in the Western Cape of South Africa. We also maintained our focus on efficiency initiatives and finalised a major part of our cost control programme launched in May this year,” says Scatec CEO Terje Pilskog.
Stock exchange noticeOptimising portfolio and preparing for further growth
• All-time high proportionate EBITDA of NOK 1.4 billion (517)
• Power production EBITDA increased by 55% to NOK 959 million (617)
• NOK 4.6 billion of revenues from projects under construction with a gross margin of 12%
• Impairment of JV in Argentina due to ongoing sales process
• NOK 2.9 billion solar project Grootfontein reached financial close
• NOK 546 million received from Upington divestment
• Cost efficiency programme implemented