Scatec ASA (STECF) Q4 2024 Earnings Conference Call Transcript

2025-01-31 13:57:43 ET

Scatec ASA (STECF)

Q4 2024 Earnings Conference Call

January 31, 2025 30:00 AM ET

Company Participants

Terje Pilskog - CEO

Hans Jakob Hegge - CFO

Conference Call Participants

Andreas Nygard - Nordea

Anders Rosenlund - SEB

Presentation

Terje Pilskog

Good morning, and welcome to our Fourth Quarter Presentation. Today, we will take you through another strong quarter for Scatec, and I will also quickly reflect on 2024. We leave a year of strong progress and profitable growth behind.

The fourth quarter has also been eventful and I'm pleased to say that we have delivered strong financial results. We have achieved important growth milestones, increasing our backlog and our pipeline, and we have continued to optimize our portfolio through divestments, and refinancing of our projects, mainly in the Philippines. All of this enabling us to continue to progress on our self-funded growth plan. I will start by taking you through some of the highlights both of the quarter and 2024, and then Hans Jakob will take you through the financials.

So 2024 has been a year of significant progress in implementing our strategy. We are building a solid foundation for further profitable growth and I'm really proud of the achievements of our team during the year. First of all, our total proportionate EBITDA has increased by 22% relative to 2023 and it came in at NOK4.7 billion. This is driven by the Philippines where we have had very strong financial results during the year from the ancillary services market. It is also driven by increased production, mainly from the new plants that has come into operation during the year. And also it is driven by successful divestments with strong gain on the sales that we have made....

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