Scatec rises as it beats EBITDA forecast, lifts guidance

Scatec ASA

01/11/2024 08:30

** Shares in Scatec  SCATC.OL  rise 3.6% after the Norwegian
renewable energy solutions provider beat Q3 profit expectations
and raised its FY guidance
    ** Q3 proportionate EBITDA of NOK 1.52 billion ($138.2
million) exceeds consensus by around 4%, Norne analyst Ignas
Lekštys says
    ** "This outperformance was mainly due to stronger EBITDA
contributions of NOK 122m from Ukraine and NOK 382m from the
Philippines," Lekštys says
    ** Scatec raises FY 2024 proportional EBITDA guidance to NOK
4.15–4.35 billion, vs previous range of NOK 3.75–4.05 billion
    ** It says it plans to invest NOK 750 million annually until
2027 to capitalise on growth opportunities in backlog and
pipeline, with continued focus on Africa, Egypt, Brazil and the
Philippines

($1 = 11.00 Norwegian crowns)

 (Reporting by Tilla Sjaavaag)
 ((tilla.sjaavaag@thomsonreuters.com))