Fourth quarter results 2022

3 February 2023: Today, our CEO, Terje Pilskog and CFO, Mikkel Tørud present our Q4 results. 

“The fourth quarter and the start of 2023 have been busy in many aspects. We increased proportionate power production EBITDA by 8 percent and continued to deliver on our growth strategy by progressing on our construction projects in Brazil, South Africa, and Pakistan. In addition, we signed an agreement to sell Upington in South Africa and we will reinvest the proceeds into new clean energy projects. We also refinanced part of our corporate facilities and welcomed new executive management members to the team during November. We are excited to embark on our journey together and ready to seize new opportunities,” says Scatec CEO Terje Pilskog.

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Optimising portfolio and preparing for further growth

  • Proportionate power production EBITDA* increased 7.6% to NOK 821 million (763) driven by the Philippines
  • Signed PPAs for round 5 in South Africa
  • A-listed by CDP on transparency and climate change performance
  • Proposes dividends of NOK 1.94 per share for 2022 and adjusted dividend policy for 2023 and onwards
  • Signed agreements to sell Upington in South Africa for a consideration of NOK 569 million**
  • Refinanced USD 100 million of Bridge-to-Bond into term loan with core banks**
*) EBITDA and other alternative performance measures (APMs) are defined and reconciled as a part of the APM section of the fourth quarter 2022 report on pages 36-39.
**) Refer to Note 11 Subsequent events for more details

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