Financials Scana ASA

Equities

SCANA

NO0003053308

Iron & Steel

Market Closed - Oslo Bors Other stock markets 10:45:00 2024-05-16 am EDT			5-day change	1st Jan Change
2.18 ^NOK	-4.39%		-4.80%	+5.06%

May. 16	Scana ASA Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
May. 09	Scana Unit Lands New E-house Modules Contract	MT

Valuation

Fiscal Period: December	2022	2023	2024	2025	2026
Capitalization ¹	410.7	933.7	986.2	-	-
Enterprise Value (EV) ¹	410.7	1,495	1,259	1,109	952.2
P/E ratio	-8.7 x	13 x	14.5 x	8.38 x	7.79 x
Yield	-	-	-	-	-
Capitalization / Revenue	-	0.58 x	0.56 x	0.51 x	0.46 x
EV / Revenue	-	0.93 x	0.72 x	0.57 x	0.45 x
EV / EBITDA	-	8.25 x	6.17 x	4.51 x	3.49 x
EV / FCF	-	12.2 x	5.4 x	7.39 x	6.06 x
FCF Yield	-	8.22%	18.5%	13.5%	16.5%
Price to Book	-	-	1.56 x	1.28 x	1.15 x
Nbr of stocks (in thousands)	393,415	449,966	452,386	-	-
Reference price ²	1.044	2.075	2.180	2.180	2.180
Announcement Date	4/28/23	2/23/24	-	-	-

¹NOK in Million²NOK

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2022	2023	2024	2025	2026
Net sales ¹	-	1,606	1,761	1,948	2,136
EBITDA ¹	-	181.3	204	246	273
EBIT ¹	-	83.3	99	141	168
Operating Margin	-	5.19%	5.62%	7.24%	7.87%
Earnings before Tax (EBT) ¹	-	56.5	69	119	155
Net income ¹	-44.5	71.3	69	119	127
Net margin	-	4.44%	3.92%	6.11%	5.95%
EPS ²	-0.1200	0.1600	0.1500	0.2600	0.2800
Free Cash Flow ¹	-	122.9	233	150	157
FCF margin	-	7.65%	13.23%	7.7%	7.35%
FCF Conversion (EBITDA)	-	67.79%	114.22%	60.98%	57.51%
FCF Conversion (Net income)	-	172.37%	337.68%	126.05%	123.62%
Dividend per Share	-	-	-	-	-
Announcement Date	4/28/23	2/23/24	-	-	-

¹NOK in Million²NOK

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Net sales ¹	-	384.6	412.3	540.5	432	445	460
EBITDA ¹	-	43	36.9	52.3	50	52	54
EBIT ¹	-	18.9	10	25.1	24	25	27
Operating Margin	-	4.91%	2.43%	4.64%	5.56%	5.62%	5.87%
Earnings before Tax (EBT) ¹	-	10	1.8	57.2	16	18	21
Net income ¹	33.6	10	16.6	-	16	18	21
Net margin	-	2.6%	4.03%	-	3.7%	4.04%	4.57%
EPS ²	0.0800	0.0200	-	-	0.0400	0.0400	0.0500
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	8/31/23	11/1/23	2/23/24	5/16/24	-	-	-

¹NOK in Million²NOK

Estimates

Balance Sheet Analysis

Fiscal Period: December	2022	2023	2024	2025	2026
Net Debt ¹	-	561	273	123	-
Net Cash position ¹	-	-	-	-	34
Leverage (Debt/EBITDA)	-	3.097 x	1.338 x	0.5 x	-
Free Cash Flow ¹	-	123	233	150	157
ROE (net income / shareholders' equity)	-	13.3%	11.4%	17.3%	15.6%
ROA (Net income/ Total Assets)	-	-	-	-	-
Assets ¹	-	-	-	-	-
Book Value Per Share ²	-	-	1.400	1.700	1.900
Cash Flow per Share	-	-	-	-	-
Capex ¹	-	30.1	57	57	57
Capex / Sales	-	1.87%	3.24%	2.93%	2.67%
Announcement Date	4/28/23	2/23/24	-	-	-

¹NOK in Million²NOK

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for Scana ASA

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

2.18 NOK

Average target price

2.8 NOK

Spread / Average Target

+28.44%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Iron, Steel Mills & Foundries

	1st Jan change	Capi.
SCANA ASA	+5.06%	92.36M
JSW STEEL LIMITED	+1.20%	26.5B
BAOSHAN IRON & STEEL CO., LTD.	+18.38%	21.1B
JINDAL STEEL & POWER LIMITED	+35.90%	12.22B
CHINA STEEL CORPORATION	-7.22%	11.87B
INNER MONGOLIA BAOTOU STEEL UNION CO., LTD.	+10.27%	10.12B
TERNIUM S.A.	+2.75%	8.57B
BHARAT FORGE LIMITED	+20.29%	8.27B
JINDAL STAINLESS LIMITED	+23.08%	6.99B
BLUESCOPE STEEL LIMITED	-8.80%	6.29B

Iron, Steel Mills & Foundries