Scatec slips after lowered power production forecast

Scatec ASA

16/08/2024 10:05

** Shares in Scatec  SCATC.OL  slide 2.7% after the
Norwegian renewable energy solutions provider cut its estimate
for 2024 proportionate power production by 100 GWh to
4,100-4,500 GWh
    ** Q2 power production of 995 GWh was below Scatec's
guidance of 1,000-1,100 GWh and analysts' consensus of 1,039
GWh, Norne analyst Ignas Lekštys says in a note
    ** Lekštys also points to the shares' relatively good run in
the past two weeks, which suggests the market had already priced
in stronger earnings than those announced on Friday
    ** Despite Friday's losses, the shares are still up 4.3%
YTD​

 (Reporting by Tomasz Kanik)
 ((Tomasz.Kanik@thomsonreuters.com; +48 58 769 65 40))