Scana ASA – Fourth quarter results 2024 – Offshore drives growth, while Energy secures long-term revenues

27 Feb 2025 07:56 CET

Bergen, 27 February 2025: Scana reports revenue growth in the last quarter, up
from the same period in 2023, driven by contributions from both offshore and
energy, reflecting sustained market activity.

Q4 2024 Financial Highlights:

· Revenue NOK 448 million
· EBITDA NOK 26 million
· EBITDA margin 5,9 %
· Order intake NOK 329 million
· Order backlog NOK 1008 million

The Energy division has strengthened its energy storage portfolio taking a
strong position in the Nordic and Baltic energy transition. Frame agreements for
BESS and module deliveries to data centers provide a solid platform for future
growth. EBITDA saw a significant increase, driven by an improved product mix.

The Offshore division continues to deliver strong underlying margins across
subsea, surface treatment, and mechanical project deliveries. International
expansion remains a priority, with a new joint venture in Singapore for valve
control systems and continued focus on the Namibian oil & gas market.

The overall EBITDA margin declined in the quarter due to one-off costs.
Excluding this impact, the underlying profitability remains stable, and the
company continues to focus on operational efficiency and margin improvements
going forward. The business model remains robust, with key growth drivers
intact. A low debt ratio provides financial flexibility and capacity for further
strategic initiatives.

Overall, 2024 has been a good year for Scana, with revenues of 1970 million, an
EBITDA of 261 million, corresponding to an EBITDA-margin of 13,2%. In 2024 Scana
paid out dividends to its shareholders for the first time since 2010.

Q4 Presentation
Today, at 10:00 CET, Scana will present the Q4 2024 results in an online session
via Investorweb. The presentation will be held by Pål Selvik, CEO, and Torvald
Ulland Reiestad, CFO.

The webcast presentation can be viewed at this link:
https://investorweb.no/ir-channel/SCANA/event/4d1569a4-b8aa-40f8-82f7-0560e145a6
e2

The presentation will be available for replay shortly afterward on Scana's
website: www.scana.no.

For more information, please contact:

Pål Selvik, CEO, +47 970 46 502

Torvald Ulland Reiestad, CFO, +47 979 87 895

Scana in brief
Scana is an active industrial owner of technology and services to both the
energy and offshore industries. With an industrial history dating back to the
early 1900s, Scana has evolved to become a leader in technology and innovation.
This journey has provided a unique position to shape solutions for tomorrow,
driven by extensive industrial experience combined with quality and value
creation. Scana is headquartered in Bergen and has above 600 employees.
www.scana.no

More information:
Access the news on Oslo Bors NewsWeb site

639866_Scana ASA - Q4 2024_Report.pdf