Reported Earnings • May 06
First quarter 2026 earnings released: kr1.00 loss per share (vs kr4.80 profit in 1Q 2025) First quarter 2026 results: kr1.00 loss per share (down from kr4.80 profit in 1Q 2025). Revenue: kr1.02b (up 8.9% from 1Q 2025). Net loss: kr160.0m (down 121% from profit in 1Q 2025). Revenue is forecast to grow 44% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. New Risk • May 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.0% Last year net profit margin: 53% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.2x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Valuation Update With 7 Day Price Move • May 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr101, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 17x in the Renewable Energy industry in Europe. Total returns to shareholders of 41% over the past three years. Annuncio • Apr 24
Scatec ASA Approves Board Elections Scatec ASA held its annual general meeting on April 24, 2026. Kirstine Damkjær was elected as a Board member for a two-year term until the Annual General Meeting 2028. Finn Bjørn Ruyter was elected as a Board member for a term until the Annual General Meeting 2028, with effect from such date as determined by the nomination committee, which shall be no later than December 1, 2026. Following the election, the Company’s board of directors comprises the following persons: Jørgen Kildahl (Chair) (until 2027), Mette Krogsrud (until 2028), Espen Gundersen (until 2028), Maria Tallaksen (until 2028), Pål Kildemo (until 2028), Kirstine Damkjær (until 2028), Finn Bjørn Ruyter (from the Effective Date and until 2028). Kristine Ryssdal was re-elected as Chair of the Nomination Committee for a two-year term until the Annual General Meeting 2028. Based on the Nomination Committee's proposal, the Nomination Committee will following the election consist of: Kristine Ryssdal (Chair) (until 2028), Mads Holm (until 2027), Christian Rom (until 2027), Ole Jakob Hundstad (until 2027). Recent Insider Transactions • Mar 29
Director recently bought kr486k worth of stock On the 26th of March, Maria Tallaksen bought around 4k shares on-market at roughly kr122 per share. This transaction increased Maria's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr818k more in shares than they have sold in the last 12 months. Annuncio • Feb 25
Scatec ASA Reaches Commercial Operations Date for the First Phase of Its 1.1 GW Obelisk Solar and 100 Mw/200 MWh Battery Storage Project in Egypt Scatec ASA has successfully reached Commercial Operations Date (COD) for the first phase of its 1.1 GW Obelisk solar and 100 MW/200 MWh battery storage project in Egypt. The Obelisk project is being built in two phases. The first phase comprises 561 MW of solar capacity and the total 100 MW/200 MWh battery energy storage system, while the second phase adds an additional 564 MW of solar capacity. The second phase is currently under construction and is expected to reach COD during the summer of 2026. Once fully operational, the Obelisk project will become Africa's largest hybrid solar and battery installation, with an expected abatement of more than 1.2 million tonnes of CO2e emissions per year. It is projected to deliver over 3,000 GWh of clean energy annually, which will be supplied to the Egyptian Electricity Transmission Company (EETC) under a 25-year Power Purchase Agreement (PPA) denominated in USD. Scatec currently holds a 60% economic interest in the power plant and is in advanced discussions with additional equity partners. Scatec provides Engineering, Procurement and Construction (EPC), Asset Management (AM) and Operations & Maintenance (O&M) services for the project. New Risk • Feb 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 123% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.6x net interest cover). Minor Risk Large one-off items impacting financial results. Reported Earnings • Feb 01
Full year 2025 earnings released: EPS: kr6.58 (vs kr8.24 in FY 2024) Full year 2025 results: EPS: kr6.58 (down from kr8.24 in FY 2024). Revenue: kr5.24b (up 20% from FY 2024). Net income: kr1.05b (down 20% from FY 2024). Profit margin: 20% (down from 30% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Annuncio • Jan 30
Scatec Asa Provides Production Guidance for the Full Year 2026 Scatec ASA provided production guidance for the Full Year 2026. For the year, company estimated proportionate power production of 5.2 to 5.6 TWh. Annuncio • Nov 18
Scatec ASA, Annual General Meeting, Apr 24, 2026 Scatec ASA, Annual General Meeting, Apr 24, 2026. New Risk • Nov 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 83% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.7x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (24% net profit margin). Reported Earnings • Nov 01
Third quarter 2025 earnings released: kr0.02 loss per share (vs kr10.20 profit in 3Q 2024) Third quarter 2025 results: kr0.02 loss per share (down from kr10.20 profit in 3Q 2024). Revenue: kr1.08b (down 7.0% from 3Q 2024). Net loss: kr3.00m (down 100% from profit in 3Q 2024). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Annuncio • Oct 30
Scatec ASA Provides Production Guidance for the Full Year 2025 Scatec ASA provided production guidance for the Full Year 2025. For the year, company estimated proportionate power production of 4.1 TWh - 4.2 TWh. Annuncio • Sep 04
Scatec ASA Announces Resignation of Jutta Dissen as Member of the Board of Directors, Effective 3 September 2025 Scatec announced that Jutta Dissen has informed the company that she resigns from her position as member of the Board of Directors effective 3 September 2025, after accepting an executive position outside Scatec. Reported Earnings • Aug 19
Second quarter 2025 earnings released: EPS: kr1.71 (vs kr0.35 loss in 2Q 2024) Second quarter 2025 results: EPS: kr1.71 (up from kr0.35 loss in 2Q 2024). Revenue: kr1.32b (up 21% from 2Q 2024). Net income: kr272.0m (up kr327.0m from 2Q 2024). Profit margin: 21% (up from net loss in 2Q 2024). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Annuncio • Aug 19
Scatec Asa Provides Power Production Guidance for the Full Year 2025 Scatec ASA provided earnings guidance for the Full Year 2025. For the year, company estimated power production between 4,000 and 4,300 gigawatt hours, slightly reduced from last quarter, mainly due to curtailments in Brazil and Ukraine. It is worth mentioning that the impact on EBITDA is marginal, as majority of the curtailments are refundable. Annuncio • Jun 29
Scatec ASA (OB:SCATC) commences an Equity Buyback Plan for 3,500,000 shares, representing 2.20% of its issued share capital, under the authorization approved on April 18, 2025. Scatec ASA (OB:SCATC) commences share repurchases on June 27, 2025, under the program mandated by the shareholders in the Annual General Meeting held on April 18, 2025. As per the mandate, the company is authorized to repurchase up to 3,500,000 shares, representing 2.20% of its issued share capital. The shares will be repurchased in a range of NOK 1 to NOK 1,000 per share. The repurchased shares will be sold/transferred to employees as part of the company's incentive program in one or more rounds. The program is valid till the next Annual General Meeting in 2025, however no later than June 30, 2026. As of April 3, 205, the company had 158,917,275 shares and no shares in treasury.
On June 26, 2025, the company announced a share repurchase program. Under the program, the company will repurchase up to 68,533 of its own shares for a total maximum amount of NOK 9.6 million. The purpose of the program is to acquire shares that can be sold to employees as part of the company's Employee Share Purchase Program. The repurchases may be carried out in the period from this announcement and until June 30, 2025. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: kr4.80 (vs kr0.72 loss in 1Q 2024) First quarter 2025 results: EPS: kr4.80 (up from kr0.72 loss in 1Q 2024). Revenue: kr1.81b (up 49% from 1Q 2024). Net income: kr762.0m (up kr877.0m from 1Q 2024). Profit margin: 42% (up from net loss in 1Q 2024). Revenue is forecast to grow 12% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Apr 09
Independent Director recently bought kr231k worth of stock On the 2nd of April, Mette Krogsrud bought around 3k shares on-market at roughly kr77.00 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.8m more in shares than they have sold in the last 12 months. Reported Earnings • Apr 04
Full year 2024 earnings released: EPS: kr8.24 (vs kr3.95 in FY 2023) Full year 2024 results: EPS: kr8.24 (up from kr3.95 in FY 2023). Revenue: kr4.37b (up 28% from FY 2023). Net income: kr1.31b (up 108% from FY 2023). Profit margin: 30% (up from 19% in FY 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Annuncio • Feb 17
Scatec Announces Resignation of Morten Henriksen as Member of the Board of Directors Scatec announced that Morten Henriksen has informed the company that he resigns from his position as a member of the Board of Directors, effective 17 February 2025. Annuncio • Feb 14
SUSI Asia Energy Transition Fund Scsp managed by SUSI Partners AG completed the acquisition of 39-megawatt (MW) Dam Nai Wind farm and the associated operating company in Vietnam from Scatec ASA (OB:SCATC). SUSI Asia Energy Transition Fund Scsp managed by SUSI Partners AG signed an agreement to acquire 39-megawatt (MW) Dam Nai Wind farm and the associated operating company in Vietnam from Scatec ASA (OB:SCATC) for $40 million on September 13, 2024. Scatec will receive an upfront consideration of $27 million for its 100% equity stake at completion, with potential for additional earn-out payments of up to $13 million that are subject to certain conditions being fulfilled prior to May 2026. Total net interest bearing debt related to the Dam Nai Wind farm was approximately $28 million at the end of the second quarter 2024, amounting to a transaction enterprise value of up to $68 million including the contingent earn-out payment. The wind farm has additionally generated a cash flow to equity of approximately $14 million to Scatec since the acquisition in 2021. Following the transaction Scatec will exit all operations in Vietnam resulting in exit costs, including capitalized development expenses, of approximately $4.5 million which will be recognized in the third quarter 2024 results. The transaction is subject to customary regulatory approvals and is expected to close within the first half of 2025.
SUSI Asia Energy Transition Fund Scsp managed by SUSI Partners AG completed the acquisition of 39-megawatt (MW) Dam Nai Wind farm and the associated operating company in Vietnam from Scatec ASA (OB:SCATC) on February 13, 2025. The transaction is now completed, and Scatec has received the initial payment of $27 million, with potential for additional earn-out payments of up to $13 million that are subject to certain conditions being fulfilled prior to May 2026. Following the transaction Scatec will exit all operations in Vietnam. New Risk • Feb 03
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 1,130% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.8x net interest cover). Earnings are forecast to decline by an average of 34% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Feb 01
Full year 2024 earnings released: EPS: kr8.24 (vs kr3.95 in FY 2023) Full year 2024 results: EPS: kr8.24 (up from kr3.95 in FY 2023). Revenue: kr6.57b (up 93% from FY 2023). Net income: kr1.31b (up 108% from FY 2023). Profit margin: 20% (up from 19% in FY 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 7.0% p.a. on average during the next 2 years, while revenues in the Renewable Energy industry in Europe are expected to grow by 6.2%. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Dec 25
Independent Director recently bought kr199k worth of stock On the 20th of December, Maria Hanssen bought around 3k shares on-market at roughly kr77.10 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr236k. Insiders have collectively bought kr1.6m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 29
Independent Chairman of the Board recently bought kr236k worth of stock On the 26th of November, Jorgen Kildahl bought around 3k shares on-market at roughly kr78.55 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr393k. Jorgen has been a buyer over the last 12 months, purchasing a net total of kr533k worth in shares. Annuncio • Nov 22
Scatec ASA, Annual General Meeting, Apr 24, 2025 Scatec ASA, Annual General Meeting, Apr 24, 2025. Annuncio • Nov 20
STANLIB Infrastructure Private Equity Fund 1 a fund managed by STANLIB Asset Management (Pty) Limited completed the acquisition of an unknown minority stake in Kalkbult, Linde, and Dreunberg solar power plants in South Africa from Scatec ASA (OB:SCATC). STANLIB Infrastructure Private Equity Fund 1 a fund managed by STANLIB Asset Management (Pty) Limited has today signed an agreement to acquire an unknown minority stake in Kalkbult, Linde, and Dreunberg solar power plants in South Africa from Scatec ASA (OB:SCATC) for approximately ZAR 920 million on August 2, 2024. A cash consideration of ZAR 921 million will be paid by the buyer. As part of consideration, ZAR 921 million is paid towards assets of Kalkbult, Linde, and Dreunberg solar power plants in South Africa. Under the terms of agreement, transaction will be conducted through a two-step process, whereby Scatec will sell down to approximately 13 percent in Kalkbult and 12 percent in Linde and Dreunberg. Closing of the transaction is subject to customary consents including lender, shareholder, and regulatory authority approvals. The accounting effects will be disclosed at closing of the transaction. The first phase of the transaction is estimated to close in the second half of 2024 and the second phase in the first half of 2025. On September 30, 2024, Scatec has closed the first phase of the previously announced sale of parts of its ownership in the Kalkbult, Linde and Dreunberg solar power plants.
STANLIB Infrastructure Private Equity Fund 1 a fund managed by STANLIB Asset Management (Pty) Limited completed the acquisition of an unknown minority stake in Kalkbult, Linde, and Dreunberg solar power plants in South Africa from Scatec ASA (OB:SCATC) on November 20, 2024. Following the closing of the transaction, Scatec holds an economic interest of approximately 13 percent in Kalkbult and 12 percent in Linde and Dreunberg. Reported Earnings • Nov 01
Third quarter 2024 earnings released: EPS: kr10.20 (vs kr0.28 in 3Q 2023) Third quarter 2024 results: EPS: kr10.20 (up from kr0.28 in 3Q 2023). Revenue: kr2.97b (up 269% from 3Q 2023). Net income: kr1.62b (up kr1.58b from 3Q 2023). Profit margin: 55% (up from 5.6% in 3Q 2023). Revenue is expected to decline by 3.8% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in Europe are expected to grow by 6.6%. Over the last 3 years on average, earnings per share has increased by 86% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Sep 05
Director recently bought kr393k worth of stock On the 2nd of September, Pal Kildemo bought around 5k shares on-market at roughly kr78.65 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.6m more in shares than they have sold in the last 12 months. Reported Earnings • Aug 17
Second quarter 2024 earnings released: kr0.34 loss per share (vs kr1.90 profit in 2Q 2023) Second quarter 2024 results: kr0.34 loss per share (down from kr1.90 profit in 2Q 2023). Revenue: kr1.17b (up 38% from 2Q 2023). Net loss: kr55.0m (down 118% from profit in 2Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Annuncio • Aug 16
Scatec ASA Provides Proportionate Power Production Guidance for the Year 2024 Scatec ASA provided proportionate power production guidance for the year 2024. The full year 2024 proportionate power production estimate is 4.1 TWh – 4.5 TWh, down by 100 GWh driven by second quarter performance. Annuncio • Aug 02
Fortis Green Fund I Rwanda Holdings Ltd, a fund managed by Fortis Green Renewables Investment Management and Axian Energy Green Ltd completed the acquisition of 54% stake in 8.5 MW Agahozo-Shalom Youth Village Solar Power Plant in Rwanda from Scatec ASA (OB:SCATC). Fortis Green Fund I Rwanda Holdings Ltd, a fund managed by Fortis Green Renewables Investment Management and Axian Energy Green Ltd agreed to acquire 54% stake in 8.5 MW Agahozo-Shalom Youth Village Solar Power Plant in Rwanda from Scatec ASA (OB:SCATC) for $1.4 million on December 19, 2023. The transaction is subject to the customary regulatory consents and is expected to close in 2024.
Fortis Green Fund I Rwanda Holdings Ltd, a fund managed by Fortis Green Renewables Investment Management and Axian Energy Green Ltd completed the acquisition of 54% stake in 8.5 MW Agahozo-Shalom Youth Village Solar Power Plant in Rwanda from Scatec ASA (OB:SCATC) on August 1, 2024. Annuncio • Jul 31
TotalEnergies SE (ENXTPA:TTE) signed an agreement to acquire SN Power AS from Scatec ASA (OB:SCATC), Norfund and British International Investment plc. TotalEnergies SE (ENXTPA:TTE) signed an agreement to acquire SN Power AS from Scatec ASA (OB:SCATC), Norfund and British International Investment plc on July 30, 2024. As part of the agreement, TotalEnergies will 100% stake in SN Power. As a result of this transaction, TotalEnergies will acquire a 28.3% stake in the Bujagali hydropower plant currently in operation in Uganda and also acquire minority stakes in two projects under development in Rwanda (260 MW) and Malawi (360 MW). The proceeds from the transaction will be used to support Scatec’s self-funded growth plan. The transaction price and the final accounting effects will be disclosed at closing of the transaction due to commercial considerations.
The transaction is subject to conditions and consents being received from stakeholders including lenders and joint venture partners and is scheduled to close within first half of 2025. Annuncio • Jun 14
Scatec ASA (OB:SCATC) commences an Equity Buyback Plan for 2,801,451 shares, representing 1.76% of its issued share capital, under the authorization approved on April 18, 2024. Scatec ASA (OB:SCATC) commences share repurchases on June 11, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 18, 2024. As per the mandate, the company is authorized to repurchase up to 2,801,451 shares, representing 1.76% of its issued share capital. The shares will be repurchased in a range of NOK 1 to NOK 1,000 per share. The repurchased shares will be sold/transferred to employees as part of the company's incentive program in one or more rounds. The program is valid till the next Annual General Meeting in 2025, however no later than June 30, 2025. As of March 26, 2024, the company had 158,917,275 shares and no shares in treasury.
On June 10, 2024 the company announced a share repurchase program. Under the program, the company will repurchase up to 50,162 of its own shares for a total maximum amount of NOK 6.48 million. The purpose of the program is to acquire shares that can be sold to employees as part of the company's Employee Share Purchase Program. The repurchases may be carried out in the period from this announcement and until June 14, 2024. As of June 10, 2024, the company has no shares in treasury. Recent Insider Transactions • May 31
Director recently bought kr365k worth of stock On the 22nd of May, Morten Henriksen bought around 5k shares on-market at roughly kr72.90 per share. This transaction increased Morten's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.2m more in shares than they have sold in the last 12 months. Board Change • May 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Espen Gundersen was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. New Risk • May 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.9x net interest cover). Earnings are forecast to decline by an average of 4.9% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • May 01
First quarter 2024 earnings released: kr0.73 loss per share (vs kr1.03 loss in 1Q 2023) First quarter 2024 results: kr0.73 loss per share (improved from kr1.03 loss in 1Q 2023). Revenue: kr1.28b (up 52% from 1Q 2023). Net loss: kr115.0m (loss narrowed 29% from 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Annuncio • Apr 30
Scatec ASA Provides Production Guidance for the Year 2024 Scatec ASA announced that the full year 2024 proportionate power production estimate is 4.2 TWh – 4.6 TWh. New Risk • Apr 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.9x net interest cover). Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Mar 25
Full year 2023 earnings released: EPS: kr3.95 (vs kr8.40 loss in FY 2022) Full year 2023 results: EPS: kr3.95 (up from kr8.40 loss in FY 2022). Revenue: kr3.40b (up 13% from FY 2022). Net income: kr628.0m (up kr1.96b from FY 2022). Profit margin: 19% (up from net loss in FY 2022). Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. New Risk • Jan 31
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.9x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.9x net interest cover). Earnings are forecast to decline by an average of 3.9% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Annuncio • Jan 27
Scatec ASA Provides Power Production Guidance for the First Quarter 2024 Scatec ASA provided power production guidance for the first quarter 2024. For the first quarter 2024, the company’s power production is estimated at 800 GWh - 900 GWh on proportionate basis. Reported Earnings • Jan 27
Full year 2023 earnings released: EPS: kr3.95 (vs kr8.40 loss in FY 2022) Full year 2023 results: EPS: kr3.95 (up from kr8.40 loss in FY 2022). Revenue: kr4.72b (up 57% from FY 2022). Net income: kr628.0m (up kr1.96b from FY 2022). Profit margin: 13% (up from net loss in FY 2022). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Renewable Energy industry in Europe. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Annuncio • Dec 29
Globeleq Generation Limited acquired 52.5% stake in 40 MW Mocuba solar power plant in Mozambique from Scatec ASA (OB:SCATC). Globeleq Generation Limited signed an agreement to acquire 52.5% stake in 40 MW Mocuba solar power plant in Mozambique from Scatec ASA (OB:SCATC) for $8.5 million on July 18, 2023.The transaction is subject to the customary consents and is expected to close in the first half of 2024.
Globeleq Generation Limited completed the acquisition of 52.5% stake in 40 MW Mocuba solar power plant in Mozambique from Scatec ASA (OB:SCATC) on December 28, 2023. Recent Insider Transactions • Nov 23
Director recently bought kr199k worth of stock On the 21st of November, Morten Henriksen bought around 3k shares on-market at roughly kr66.37 per share. This transaction increased Morten's direct individual holding by 2x at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr399k more in shares than they have sold in the last 12 months. Reported Earnings • Nov 03
Third quarter 2023 earnings released: EPS: kr0.28 (vs kr1.61 in 3Q 2022) Third quarter 2023 results: EPS: kr0.28 (down from kr1.61 in 3Q 2022). Revenue: kr947.0m (up 21% from 3Q 2022). Net income: kr45.0m (down 82% from 3Q 2022). Profit margin: 4.8% (down from 33% in 3Q 2022). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 11% decline forecast for the Renewable Energy industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. New Risk • Nov 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.7x net interest cover). Dividend is not well covered by earnings and cash flows. Dividend per share is over 8x earnings per share. Paying a dividend despite having no free cash flows. Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Annuncio • Oct 28
Central Puerto S.A. (BASE:CEPU) completed the acquisition of 117-megawatt (MW) Guañizuil IIA solar power plant in Argentina from Scatec ASA (OB:SCATC) and Equinor ASA (OB:EQNR). Central Puerto S.A. (BASE:CEPU) reached an agreement to acquire 117-megawatt (MW) Guañizuil IIA solar power plant in Argentina from Scatec ASA (OB:SCATC) and Equinor ASA (OB:EQNR) on October 19, 2023. Central Puerto S.A. (BASE:CEPU) completed the acquisition of 117-megawatt (MW) Guañizuil IIA solar power plant in Argentina from Scatec ASA (OB:SCATC) and Equinor ASA (OB:EQNR) on October 27, 2023. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: kr1.90 (vs kr0.61 loss in 2Q 2022) Second quarter 2023 results: EPS: kr1.90 (up from kr0.61 loss in 2Q 2022). Revenue: kr848.0m (up 18% from 2Q 2022). Net income: kr302.0m (up kr399.0m from 2Q 2022). Profit margin: 36% (up from net loss in 2Q 2022). Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 9.9% decline forecast for the Renewable Energy industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 31% per year whereas the company’s share price has fallen by 26% per year. New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 4.1% per year for the foreseeable future. Annuncio • Jul 18
Globeleq Generation Limited signed an agreement to acquire 40 MW Mocuba solar power plant in Mozambique from Scatec ASA (OB:SCATC) for $8.5 million. Globeleq Generation Limited signed an agreement to acquire 40 MW Mocuba solar power plant in Mozambique from Scatec ASA (OB:SCATC) for $8.5 million on July 18, 2023.The transaction is subject to the customary consents and is expected to close in the first half of 2024. New Risk • Jul 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (7.0% average weekly change). Reported Earnings • May 06
First quarter 2023 earnings released: kr1.02 loss per share (vs kr7.14 loss in 1Q 2022) First quarter 2023 results: kr1.02 loss per share (improved from kr7.14 loss in 1Q 2022). Revenue: kr919.0m (up 27% from 1Q 2022). Net loss: kr163.0m (loss narrowed 86% from 1Q 2022). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 8.9% decline forecast for the Renewable Energy industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Apr 12
Upcoming dividend of kr1.94 per share at 2.6% yield Eligible shareholders must have bought the stock before 19 April 2023. Payment date: 15 May 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of British dividend payers (5.9%). In line with average of industry peers (2.4%). Reported Earnings • Mar 24
Full year 2022 earnings released: kr8.40 loss per share (vs kr2.44 profit in FY 2021) Full year 2022 results: kr8.40 loss per share (down from kr2.44 profit in FY 2021). Revenue: kr3.00b (down 1.2% from FY 2021). Net loss: kr1.33b (down 444% from profit in FY 2021). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 11% decline forecast for the Renewable Energy industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 52 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Mar 19
Independent Director recently bought kr200k worth of stock On the 16th of March, Maria Hanssen bought around 3k shares on-market at roughly kr66.11 per share. This transaction amounted to 55% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr7.9m more in shares than they bought in the last 12 months. Reported Earnings • Feb 05
Full year 2022 earnings released: kr8.40 loss per share (vs kr2.44 profit in FY 2021) Full year 2022 results: kr8.40 loss per share (down from kr2.44 profit in FY 2021). Revenue: kr3.75b (up 24% from FY 2021). Net loss: kr1.33b (down 444% from profit in FY 2021). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 4.1% decline forecast for the Renewable Energy industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 04
Third quarter 2022 earnings released: EPS: kr1.60 (vs kr0.82 in 3Q 2021) Third quarter 2022 results: EPS: kr1.60 (up from kr0.82 in 3Q 2021). Revenue: kr1.16b (up 37% from 3Q 2021). Net income: kr255.0m (up 95% from 3Q 2021). Profit margin: 22% (up from 16% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 22% p.a. on average during the next 3 years, while revenues in the Renewable Energy industry in the United Kingdom are expected to remain flat. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Oct 04
Independent Director recently bought kr79k worth of stock On the 30th of September, Gisele Marchand bought around 1k shares on-market at roughly kr78.85 per share. This transaction amounted to 39% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr7.8m more in shares than they bought in the last 12 months. Recent Insider Transactions • Aug 07
Insider recently sold kr13m worth of stock On the 4th of August, Roar Haugland sold around 110k shares on-market at roughly kr114 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr7.9m more than they bought in the last 12 months. Reported Earnings • Jul 27
Second quarter 2022 earnings released: kr0.61 loss per share (vs kr0.58 profit in 2Q 2021) Second quarter 2022 results: kr0.61 loss per share (down from kr0.58 profit in 2Q 2021). Revenue: kr836.0m (up 14% from 2Q 2021). Net loss: kr97.0m (down 204% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 30%, compared to a 2,755% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 74 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • May 08
Independent Director recently bought kr249k worth of stock On the 6th of May, Maria Hanssen bought around 3k shares on-market at roughly kr90.58 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr4.2m more in shares than they have sold in the last 12 months. Reported Earnings • May 06
First quarter 2022 earnings released: kr7.13 loss per share (vs kr0.11 profit in 1Q 2021) First quarter 2022 results: kr7.13 loss per share (down from kr0.11 profit in 1Q 2021). Revenue: kr759.0m (up 9.5% from 1Q 2021). Net loss: kr1.13b (down kr1.15b from profit in 1Q 2021). Over the next year, revenue is forecast to grow 57%, compared to a 3,396% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improved over the past week After last week's 17% share price gain to kr138, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 24x in the Renewable Energy industry in Europe. Total returns to shareholders of 63% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr70.11 per share. Reported Earnings • Feb 04
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: kr2.45 (up from kr3.52 loss in FY 2020). Revenue: kr3.80b (up 37% from FY 2020). Net income: kr388.0m (up kr866.0m from FY 2020). Profit margin: 10% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue missed analyst estimates by 1.5%. Over the next year, revenue is forecast to grow 37%, compared to a 48% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Recent Insider Transactions • Nov 27
Director recently bought kr318k worth of stock On the 25th of November, Jorgen Kildahl bought around 2k shares on-market at roughly kr159 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold kr81m more in shares than they bought in the last 12 months. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS kr0.83 (vs kr0.43 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr1.06b (up 45% from 3Q 2020). Net income: kr131.0m (up kr188.0m from 3Q 2020). Profit margin: 12% (up from net loss in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 138 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Jul 29
Chief Financial Officer recently bought kr475k worth of stock On the 26th of July, Mikkel Torud bought around 2k shares on-market at roughly kr198 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr5.0m. Despite this recent buy, Mikkel has been a net seller over the last 12 months, reducing personal holdings by kr13m.