Oslo, 30 October 2026: In the third quarter, Scatec continued to progress its near-term growth portfolio. Proportionate revenues were NOK 2,267 million (2,953 million), and EBITDA was NOK 1,208 million (1,063 million).
Power production revenues were NOK 1,301 million (1,178 million) and EBITDA NOK 1,070 million (955 million). The growth is driven by new power plants in operation. Total proportionate power production from Scatec’s power plants was 1,469 GWh (1,202 GWh).
The Development & Construction (D&C) segment reported revenues of NOK 948 million (1,760 million) and EBITDA of NOK 168 million (135 million). Revenues in the same quarter last year were mainly driven by high activity on the Obelisk project. The strong EBITDA margin this quarter was positively impacted by NOK 140 million in close-out effects related to the Obelisk project, including a contingency release of NOK 100 million. Total contingency releases in 2026 amount to NOK 340 million.
“In the third quarter, we continued to deliver on our growth strategy, with high construction activity, new assets increasing production by 22% and several important milestones reached. We are also facing challenges in some markets. In Ukraine, attacks on energy infrastructure continue to disrupt operations, with employee safety our priority. In the Philippines, the suspension of the reserves market will affect near-term earnings, but demand for ancillary services remains strong and we expect a limited long-term impact,” says Scatec CEO Terje Pilskog.
Scatec has reached several important milestones since last reporting:
In the quarter, Scatec recognised impairments of NOK 1,150 million on a consolidated basis and NOK 1,066 million on a proportionate basis, related to its assets in Ukraine and Pakistan. The impairments reflect increased cash flow uncertainties, country risk premiums and long-term interest rates.
Third quarter consolidated revenues and other income were NOK 1,677 million (1,080 million), EBITDA was NOK 1,135 million (785 million), and net profit was NOK -1,135 million (5 million).
Outlook
Strategic roadmap towards 2030
Scatec's self-funded growth strategy is yielding tangible results, with good progress on growth, deleveraging, and capital discipline over the past two years. Building on this momentum, the company is refining its roadmap with increased targets for the strategic period 2027-2030:
“Scatec is entering its next growth phase with a record-high portfolio that provides strong, visible near-term growth. Our integrated business model continues to create value across development, construction, ownership, and operations. As energy markets evolve, we will remain focused on disciplined execution and selective growth in the markets where our capabilities, relationships and business model give us a clear competitive advantage. We enter the final quarter of the year with strong momentum and a clear strategic direction,” says Scatec CEO Terje Pilskog.
Additional information
Proportionate historical financial information on a country-by-country level and a portfolio overview is published on the website. See definitions of the Alternative Performance Measures in the appendix in the quarterly report.
A presentation of the third quarter results followed by a Q&A session will be held at Scatec's headquarters at Skøyen Atrium III (1st floor), Askekroken 11, 0277 Oslo, today at 09:00 am CET. You can also follow the presentation and Q&A session through this link: Scatec webcast Q3 2026