Changes in Scatec’s segment reporting structure effective as of 1 January 2024

Oslo, 5 April 2024: As announced in the fourth quarter 2023 financial report, Scatec has reorganised its segment reporting structure from 1 January 2024. The group’s revenues and operating expenses from the Services segment are now reported as part of the Power Production segment.

The merger of the two segments results in an increase of Power Production EBITDA corresponding to the EBITDA previously reported in the Services segment. External revenues from Services are now included in revenues in the Power Production segment, and the net of internal revenues and operating expenses is part of Power Production operating expenses. The estimated increase in Power Production EBITDA for 2024 is 120-130 million, equalling the estimated outlook for Services presented in the fourth quarter 2023 financial report.

Following the change, Scatec’s segment structure consists of three segments: Power Production, Development & Construction and Corporate.

The segment financials for 2023 have been restated with the new segment reporting structure, which is attached and available on the Company’s website.

Scatec will publish its first quarter 2024 results on Tuesday 30 April 2024.

For further information, please contact:
Andreas Austrell, VP Investor Relations tel: [phone], email: [e-mail] 

About Scatec  
Scatec is a leading renewable energy solutions provider, accelerating access to reliable and affordable clean energy emerging markets. As a long-term player, we develop, build, own, and operate renewable energy plants, with 4.6 GW in operation and under construction across four continents today. We are committed to grow our renewable energy capacity, delivered by our passionate employees and partners who are driven by a common vision of ‘Improving our Future’. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com or connect with us on LinkedIn.  

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

Attachment

• Historical financials 2023 - new segment reporting structure