Scatec ASA

SCATC

Equity

ISIN NO0010715139 / Valor 25445654

Oslo Stock Exchange (2024-12-23)

NOK 79.25+1.80%

Scatec ASA
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About company

Scatec ASA is a leading renewable energy solutions provider that develops, builds, owns, and operates renewable energy plants in high growth markets. The company's power plants are structured in project companies and financed with equity and non-recourse project finance debt, which helps isolate operational and financial risks related to each individual project. Scatec's equity investments in solar project companies are largely funded through its Development & Construction activities. The company regularly publishes its quarterly results and holds open presentations in Oslo. Additionally, Scatec has secured various financing agreements with major banks for its renewable energy projects, including a Multicurrency Revolving Credit Facility and Green Term loans.

Summarized from source with an LLMView SourceSector: Energy

Revenue Growth

Scatec ASA reported a significant increase in revenues for the first quarter of 2024. The company's revenues and other income reached NOK 1,226 million, up from NOK 919 million in the same quarter last year. This growth was primarily driven by new plants coming into operation and strong contributions from existing projects.

EBITDA Increase

Scatec ASA's EBITDA for the first quarter of 2024 saw a notable rise, reaching NOK 870 million, a 23% increase from NOK 707 million in the first quarter of 2023. This improvement was largely due to the commencement of new projects and favorable currency effects, which also led to an 8% increase in operating expenses.

Power Production

In the first quarter of 2024, Scatec ASA's power production segment delivered 901 GWh, slightly up from 887 GWh in the same period last year. The increase in production was attributed to new projects coming online, although it was partially offset by divestments and lower inflows in the Philippines due to El Niño.

Cash Flow to Equity

Scatec ASA's cash flow to equity increased by 35% to NOK 363 million in the first quarter of 2024. This was positively impacted by strong EBITDA generation and proceeds from the divested shares in the Mendubim project in Brazil, highlighting the company's effective financial management and strategic divestments.

Debt Refinancing

During the first quarter of 2024, Scatec ASA successfully extended its debt maturity profile. The company issued a NOK 1.75 billion 4-year senior unsecured Green bond and refinanced a USD 150 million Green Term Loan with new maturity in Q4 2027. Additionally, the USD 180 million Revolving Credit Facility was extended until Q3 2027, all at attractive rates, ensuring financial stability and flexibility.

Summarized from source with an LLMView Source

Key figures

0.06%1Y

-48.6%3Y

-34.0%5Y

Performance

40.3%1Y

47.2%3Y

50.1%5Y

Volatility