First quarter results 2023

5 May 2023: Today, our CEO, Terje Pilskog and CFO, Hans Jakob Hegge present our Q1 results. 

“We are pleased with a solid start to the year, driven by strong operational and financial performance. Scatec delivered high power production availability in the quarter and without any injuries. We also report solid progression and strong margins of 11 percent for our projects under construction in South Africa, Brazil, and Pakistan. We will continue to deliver on our strategy with a focused and disciplined approach providing renewables projects with attractive returns. The world is facing a climate crisis and Scatec is ready to drive the clean energy transition forward by building out renewable energy in our focus markets,” says Scatec CEO Terje Pilskog.

Stock exchange notice

Optimising portfolio and preparing for further growth

  • Total proportionate EBITDA increased by 92% to NOK 765 million (398)
  • Power production EBITDA increased 40% to NOK 686 million (490)
  • NOK 1.7 billion of revenues from projects under construction with a margin increase to 11% compared to Q4’22
  • Net Zero targets approved by SBTi and Net Zero Strategy announced
  • Refinanced USD 193 million bridge facility with green term loan and green bond
  • Delivering on strategic pillar to optimise portfolio

Financial webcast