Scatec achieves significant sales boost in 2022 with somewhat reduced EBITDA

Feb 6, 2023 01:40 PM ET
  • Norwegian renewable resource power producer Scatec ASA reported proportionate revenues of NOK 1.995 billion ($ 195 million) in the fourth quarter of 2022, up nearly 71 percent from NOK 1.169 billion ($ 114 million) in the fourth quarter of 2021. For the complete year 2022, sales raised to NOK 5.957 billion ($ 583 million), up nearly 38 percent from NOK 4.329 billion ($ 423 million) a year previously.

Earnings prior to rate of interest, taxes, devaluation and also amortization (EBITDA) of NOK 786 million ($ 77 million) did not get to a brand-new all-time high as in the 3rd quarter with NOK 850 million ($ 83 million), but was around 15 percent greater than in the very same quarter last year. In a full-year contrast, EBITDA 2022 decreased by a good five percent from NOK 2.686 to 2.550 billion ($ 249 million).

According to the company, the high revenues from Scatec's hydroelectric nuclear power plant in the Philippines once again played a major duty in the good quarterly outcome. On the whole, Scatec's fourth-quarter power production of 979 gigawatt-hours was below 1,047 GWh in the year-ago quarter, yet the revenue produced was greater at NOK 1.262 billion (Q4 2021: NOK 1.073 billion).

In line with the existing reward policy, the Board of Supervisors has actually decided to propose to the Annual General Fulfilling a reward of 1.94 crowns (19 ct) per share, completing 308 million crowns ($ 30 million), to be paid in May 2023.

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