Third quarter 2018 results - high construction activity and increased backlog
Oslo, 19 October 2018: Scatec Solar ASA reported third quarter proportionate revenues of NOK 1,299 million (NOK 924 million in third quarter 2017), and EBITDA reached NOK 266 million (500).
The revenues increased by 40% compared to the same quarter last year, reflecting high construction activities. Construction is ongoing for 1.1 GW of new solar plants in five countries, resulting in D&C revenues of NOK 1,077 million (760) and EBITDA of NOK 130 million (384) in the third quarter. The EBITDA in the third quarter 2017 included a gain of NOK 375 million from the partial sale of the Apodi project in Brazil. Revenues and profitability in the other business segments remain fairly stable.
"Our third quarter results reflect high activity and a good progress on realising our project portfolio. We are very pleased to have completed our second solar plant in Honduras in the quarter and other projects are nearing completion. We have secured another 121 MW in Ukraine, supporting our continued successful conversion of project pipeline to backlog,says Raymond Carlsen, CEO of Scatec Solar.
Scatec Solar's third quarter consolidated revenues reached NOK 294 million (655), and EBITDA reached NOK 221 million (595).
For further details, please see the attached third quarter report and presentation.
A presentation of the results will be held today at 08.00 (CET) at Høyres Hus, Stortingsgata 20, 0161 Oslo. The presentation and Q&A session can also be followed through a live webcast from our website www.scatecsolar.com/investor.
For further information, please contact:
Mr. Raymond Carlsen, CEO, tel: +47 454 11 280 firstname.lastname@example.org
Mr. Mikkel Tørud, CFO, tel: +47 976 99 144 email@example.com
Ingrid Aarsnes, Communication & IR, tel: +47 950 38 364 firstname.lastname@example.org
About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of 1,000 MW. The company is producing electricity from 357 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and has 1,057 MW under construction.
With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit www.scatecsolar.com.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Q3 2018 Report
Q3 2018 Presentation