Q1 2024

Delivering on self- funded growth plan

CEO, Terje Pilskog & CFO, Hans Jakob Hegge

Disclaimer

The following presentation is being made only to, and is only directed at, persons to whom such presentation

may lawfully be communicated ('relevant persons'). Any person who is not a relevant person should not rely, act or make assessment on the basis of this presentation or anything included therein.

The following presentation may include information related to investments made and key commercial terms thereof, including future returns. Such information cannot be relied upon as a guide to the future performance of such investments. The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law, and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about, and observe, such restrictions. This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in Scatec ASA or any company within the Scatec Group. This presentation contains statements regarding the future in connection with the Scatec Group's growth initiatives, profit figures, outlook, strategies and objectives as well as forward looking statements and any such information or forward-looking statements regarding the future and/or the Scatec Group's expectations are subject to inherent risks and uncertainties, and many factors can lead to actual profits and developments deviating substantially from what has been expressed or implied in such statements.

Alternative performance measures (APM) used in this presentation are described and presented in the first quarter 2024 report for the group.

2

Q1 2024

Key highlights

Solid Power Production EBITDA - increased to NOK 870 million (707)

Key figures - proportionate

Finalised large construction programme - 681 MW solar in Brazil and Pakistan

Started new construction - 333 MW solar in South Africa and Botswana

Extended debt maturity profile - bond issue and bank refinancing

Strengthened position in South Africa - launched Lyra Energy platform

Power production

901

GWh

Q1 2023: 887

Total EBITDA

848

NOK million

Q1 2023: 765

Total revenues and other income

1,226

NOK million

Q1 2023: 2,626

Total EBIT

429

NOK million

Q1 2023: 405

3

Strong EBITDA growth driven by new projects in operation

- Positive contribution from Ukraine and settlement in Honduras

Power Production, GWh

+20%

887

45

901

135

194

752

Kenhardt,

Mendubim,

Sukkur

Q1'23

Divestments

Q1'23

Growth

Philippines

Q1'24

adjusted

EBITDA NOKm

+37%

22

33

38

870

85

707

135

74

633

Kenhardt,

Mendubim,

Sukkur

Q1'23

Divestments

Q1'23

Growth

Honduras

Ukraine

Brazil

Philippines

Q1'24

adjusted

gain

on sale

4

Philippines

Volumes impacted by El Niño, partly offset by low spot prices as a net buyer

Net Revenue, NOK million

Ancillary Services

Power Production, GWh

Production volumes

161

Spot & Contract

196

Contract volumes

• Net revenues down 28% due to

lower production volumes

80116

86

81

30

120

151

77

• Ancillary Services revenues in line

with last year

Q1'23Q1'24

EBITDA, NOK million

Q1'23Q1'24

Prices, PHP/kWh

• EBITDA of NOK 75 million above

estimate due to lower prices

113

6.8

Average spot price*

75

Average contract price

4.7

4.5

4.6

5

Q1'23

Q1'24

Q1'23

Q1'24

Continuing to grow our renewable energy capacity

  • Started construction of 333 MW in South Africa & Botswana

Grootfontein, South Africa, 273 MW solar

Q1'24 financial performance

NOK 152m

D&C revenues Q1'24

49% / 9%*

Gross D&C margin

Mmadinare ph1, Botswana, 60 MW solar

NOK 2.3bn

EPC contract value

NOK 350m

Equity investment

6

*49% gross margin includes release of NOK 65 million of contingencies related to Kenhardt. The gross margin for Grootfontein and Mmadinare Ph 1 was 9%, in line with the 8-10% guidance.

Reaching 4.6 GW with projects under construction

- Additional 0.7 GW maturing in backlog

5,249

+35%

685

4,564

4,230

9

342

South Africa,

South Africa,

Brazil, Egypt,

Rwanda

Botswana &

Botswana &

Tunisia

1,263

Release

3,382

415

South Africa,

South Africa,

Argentina &

Brazil, Pakistan

Mozambique

& Philippines

In operation

Divestments

Additions

In operation Q1'24

Divestment -

Under construction Total in operation

Backlog

Grand total

Q1'23*

held for sale

& under

7

construction

*In operation Q1'23 includes the upgrade of the Ambuklao hydropower plant **Including equity loan of EUR 15 million for 142 MW project in Brazil

Maturing pipeline fuelling attractive growth

13.2 GW

2%

9%

10.8 GW

11%

7%

3%

6%

45%

21%

63%

32%

Q1'23

Q1'24

Release

Hydro

Solar

Green hydrogen

Wind

8

7%

10.8 GW

93%

Focus markets Other

  • Converted 142 MW solar in Brazil into backlog
  • Added attractive growth prospects within solar
  • Conversion of projects into value accretive growth top priority

Strengthening position in South Africa through Lyra Energy platform

  • Leverage strong partnership with Standard Bank and Stanlib

South Africa

Smart, flexible, private power supply solution for industry

730 MW

in operation

273 MW

under construction

103 MW

in backlog

5 GW

in pipeline

12

43

  1. Electricity generation via high-quality renewable energy assets
  2. Wheeling energy utilising the national grid
  3. Standardised PPA terms and contracts, ensuring a hassle-free process for clients
  4. Renewable energy credits for each MWh of purchased energy

9

Financial review

Hans Jakob Hegge, CFO

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Disclaimer

Scatec ASA published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2024 05:16:09 UTC.