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Scatec (SCATC) investor relations material
Scatec Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved robust financial results in 2025, with proportionate revenues up 25% year-over-year and a record backlog of up to 6.4 GW, driven by D&C activities and major new projects in Africa and Asia.
Strengthened financial position by reducing corporate debt by 25% to NOK 6.7–6.8 billion and maintaining liquidity of NOK 5.6 billion.
Signed landmark 25-year PPA in Egypt for 1.95 GW solar and 3.9 GWh BESS, the largest in Africa and company history.
Commenced commercial operations at new projects in Botswana and South Africa, and divested assets in Vietnam and African hydropower to streamline the portfolio.
Asset rotation program targets NOK 3.4 billion in proceeds by 2030, focusing on non-core assets and reducing ownership stakes in select projects.
Financial highlights
Proportionate revenues for Q4 2025 reached NOK 3.4 billion, up 25% year-over-year; D&C revenues were NOK 2.3 billion with a 14% gross margin.
Full-year 2025 consolidated revenue was NOK 5,238 million, with EBITDA at NOK 4,013 million; proportionate full-year revenue was NOK 11,002 million and EBITDA NOK 3,845 million.
Power Production segment generated NOK 1.1 billion in revenues for Q4 2025, with stable operational performance and a divestment gain of NOK 380 million.
Cash flow from operations in Q4 2025 was NOK 1,291 million, with free cash at year-end of NOK 3,257 million and total available liquidity of NOK 5,624 million.
Proportionate EBITDA margin for Q4 2025 was 32%.
Outlook and guidance
2026 power production guidance: 5,200–5,600 GWh; estimated full-year EBITDA NOK 3.8–4.1 billion, with D&C gross margin expected at 10–12%.
Q1 2026 expected power production: 950–1,150 GWh; Philippines EBITDA: NOK 180–240 million.
Focus for 2026: operational performance, execution of growth portfolio, divestment of non-core assets, and further deleveraging.
Corporate EBITDA for 2026 estimated at NOK -125 to -135 million.
New projects in Tunisia, Egypt, South Africa, Philippines, and Brazil expected to contribute.
- TimeTickerHeadlineOpen
- 6 FebSCW
Record revenue, surging backlog, and major space contracts set the stage for 2025 growth. - 6 FebSCW
Q1 2025 revenue nearly doubled year-over-year, with strong backlog and major new contracts secured. - 6 FebSCW
Record Q2 revenue, major new contracts, and a tripled backlog signal strong growth. - 6 FebSCW
Record backlog and 89% y/y revenue growth highlight strong momentum in space projects. - 6 FebNVDA
AI-driven virtual twins and accelerated computing are revolutionizing design and manufacturing. - 6 FebSPKSJF
Record income, strong growth, and robust capital position despite lower interest income. - 6 FebISCTR
Net profit hit TL 67.4 billion in 2025, with strong NIM, fee growth, and solid 2026 outlook. - 6 FebSCW
73% revenue growth and record backlog driven by new space contracts and strategic investments. - 6 FebCDP
2025 FFO/share rose 5.8% with strong leasing and retention; 2026 guidance signals further growth. - 6 FebPENG
All proposals passed, with no questions raised during the Q&A session.
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