Scana ASA - Third quarter results 2022 – Strong demand for sustainable energy solutions generated record revenues

04 Nov 2022 08:00 CET

Bergen, 4 November 2022: Scana’s revenues reached a new all-time high in the
third quarter. Revenues increased by 10 per cent from the previous quarter to
NOK 227 million, while EBITDA was NOK 20 million, representing an EBITDA margin
of 9 per cent.

The Energy business area represented 49 per cent of revenues and was the major
contributor to the revenue growth.

“We see a rapidly growing demand for our solutions within electrification and
renewable energy. At the same time, we enter new markets and expand our product
portfolio. During the quarter we launched a hydrogen-based shore power solution
and won sizeable contracts for our new mobile battery systems,” says Styrk
Bekkenes, CEO of Scana.

The order backlog sustained at a record high level of NOK 447 million. The order
intake for the quarter was NOK 214 million, compared to NOK 270 million the
previous quarter. The order intake represents a book-to-bill of 0.9 times.
Scana is organised in three business areas: Offshore, Energy and Maritime.

“There is high tendering activity across all business areas with substantial
contracts expected to be decided in the coming months. For the business area
Offshore, the order backlog grew at a slower rate than expected in the third
quarter, due to customers postponing investments and purchasing services. This
is expected to reverse as deferred orders are placed,” continues Bekkenes.

Please find enclosed the interim report and the highlights for the third quarter
2022.

Visit Scana’s website to find a summarised video presented by CEO, Styrk
Bekkenes:
https://scana.no/news/third-quarter-results-2022


For more information, please contact:
Styrk Bekkenes, CEO, +47 40 40 35 20, styrk.bekkenes@scana.no
Torvald Ulland Reiestad, CFO, +47 97 98 78 95, torvald.reiestad@scana.no
Anette Netteland Dybvik, Head of IR and Investments, +47 416 67 787,
anette.dybvik@scana.no

Scana in brief
Scana is a listed industrial owner company in the ocean industries creating
value through active ownership in market-leading portfolio companies. Our vision
is to accelerate decarbonisation of the maritime and offshore sector by being a
driving force in electrification and emission reduction solutions. Scana’s
portfolio companies have a solid innovation and commercialisation history based
on core competence in selected niches. Scana is headquartered in Bergen and has
around 350 employees. www.scana.no

More information:
Access the news on Oslo Bors NewsWeb site

574761_Scana_Q3_2022_report.pdf
574761_Scana Q3 highlights.pdf