Q3 2025 Scatec ASA Earnings Call Transcript
Key Points
- Scatec ASA (STU:66T) reported a 22% increase in total proportionate revenues, reaching nearly NOK3 billion for the quarter.
- The company's EBITDA was NOK1.1 billion, indicating increased activity levels, particularly in the DNC segment.
- Scatec ASA's backlog reached an all-time high of 3.4 gigawatts, with new projects in Colombia and the Philippines.
- The company successfully repaid NOK953 million of corporate debt, reducing net interest-bearing debt to NOK4.3 billion.
- Scatec ASA is on track to more than double its operating capacity to over 9 gigawatts in the next two to three years, supported by a strong project pipeline.
- The company faced an impairment of NOK30 million due to new assessments of future curtailment levels and power prices.
- Revenues from power production decreased to NOK1.2 billion compared to NOK1.8 billion in the same quarter last year, partly due to divestments.
- The EBITDA for the DNC segment, while positive, was impacted by high margin projects and disciplined cost control, indicating potential cost pressures.
- Currency fluctuations, particularly the strengthening of the NOK, posed potential headwinds, although they were reportedly hedged.
- The company acknowledged that some projects have moved out in time, although none have fallen out of the backlog.
Good morning, everyone, and welcome to our third quarter presentation. Today we are presenting another quarter with strong financials and also good progress on our strategic priorities. We will also provide an update on our strategy and targets towards 2030.
And then reflecting on our last 12 months, we've made significant progress on our strategic priorities. Both in terms of growing our renewables portfolio and also in terms of strengthening our balance sheet. And we expect this momentum to continue. And at an even higher pace than what we have seen over the last 12 months.
So let me start with the highlights of the quarter, and then Hans Jakob will take you through the financials and then I will come up, come back with an update on our strategy and our targets towards 2030. So then in terms of the highlights of the quarter, our total proportionate revenues increased by 22% to nearly NOK3 billion in the quarter. And our EBITDA was NOK1.1 billion, representing increased activity levels and especially in our DNC segment where we have
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