Financing Strategy Pays Off: Scatec Increases Revenue And Continues to Reduce Debt in Q3 2025 - New Green Bond Issued

Oslo (Norway) - Norwegian solar and storage developer Scatec ASA has published its financial results for the third quarter of 2025. While revenue increased, Scatec recorded a decline in EBITDA.

Scatec increased its proportionate revenues by 22 percent year-on-year to NOK 2.953 billion (approx. EUR 252 million) (Q3/2024: NOK 2.416 billion, approx. EUR 206 million). EBITDA fell by about 30 percent to NOK 1.063 billion (approx. EUR 91 million) compared to the same period last year (NOK 1.52 billion, approx. EUR 130 million).

Revenues from power production amounted to NOK 1.178 billion (approx. EUR 101 million) (Q3/2024: NOK 1.772 billion, approx. EUR 151 million), with an EBITDA of NOK 955 million (approx. EUR 82 million) (Q3/2024: NOK 1.54 billion, approx. EUR 131 million). The decline was mainly due to a NOK 383 million (approx. EUR 33 million) gain on sale in South Africa and a NOK 60 million (approx. EUR 5 million) payment adjustment in the Philippines recorded in the previous year. Total power production from Scatec’s plants amounted to 1,202 GWh (Q3/2024: 1,254 GWh).

The Development & Construction (D&C) segment contributed significantly to growth, with NOK 1.76 billion (approx. EUR 150 million) (Q3/2024: NOK 631 million, approx. EUR 54 million). Projects in Egypt, the Philippines, Brazil, Botswana, South Africa, and Tunisia achieved a gross margin of 11.4 percent. “Our construction activities are on schedule with good margins, and we continue to add attractive new projects to our backlog. In parallel, we have repaid approximately one billion of our corporate debt while increasing our liquidity position,” said CEO Terje Pilskog.

Scatec continued its debt reduction efforts, repaying NOK 943 million (approx. EUR 80 million) during the quarter, including a USD 85 million loan. Since launching its deleveraging strategy a year ago, the company’s gross debt has fallen by about 27 percent to NOK 6.7 billion (approx. EUR 571 million).

In addition to the quarterly results, Scatec issued an unsecured green corporate bond totaling NOK 1 billion (approx. EUR 85 million) with a maturity of 4.25 years. The interest rate is linked to the Norwegian money market rate (3-month NIBOR) plus 2.85 percentage points per year. The proceeds will be used to repay existing debt and finance general corporate purposes.

Scatec reaffirmed its goal to reduce gross corporate debt to NOK 4 billion by 2030 and to continue driving growth in dynamic markets.

The Scatec share edged slightly lower to EUR 8.69 yesterday (closing price, 05.11.2025, Stuttgart Stock Exchange). Compared to the price at the beginning of the year, this represents an increase of 31 percent.

Source: IWR Online, 06 Nov 2025