Norway's Scatec Q1 revenue and EBITDA fall

Scatec ASA

06/05/2026 06:17

Overview

Norway renewable energy provider's Q1 proportionate revenue and EBITDA declined yr/yr

Power production rose to 1,046 GWh from 979 GWh yr/yr

Company advanced new projects and repaid NOK 286 mln in corporate debt

Outlook

Scatec sees 2026 proportionate power production of 5.05 to 5.45 TWh

Company expects 2026 proportionate EBITDA from power production of NOK 3,600 to 3,900 mln

Scatec says remaining D&C contract value for projects under construction is NOK 4.2 bln

Result Drivers

DIVESTMENT IMPACT - Lower revenue and EBITDA mainly due to absence of prior-year divestment gains from Uganda and Vietnam

PROJECT EXECUTION - D&C segment EBITDA benefited from NOK 80 mln contingency release for Obelisk project

NEW PROJECTS - Revenues in D&C segment mainly driven by Obelisk and Mogobe projects

Company press release: ID:nMFN7Thh8W

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Proportionate Revenue
NOK 1.64 bln
Q1 Proportionate EBITDA
NOK 774 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the independent power producers peer group is "buy"

Wall Street's median 12-month price target for Scatec ASA is NOK137.00, about 17.5% above its May 5 closing price of NOK116.60

The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 25 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)