Scatec ASA (OTCPK:STECF) Q3 2024 Earnings Call Transcript November 1, 2024 4:00 AM ET
Company Participants
Terje Pilskog – CEO
Hans Jakob Hegge – CFO
Conference Call Participants
Anders Rosenlund – SEB
Andreas Nygard – Nordea
Terje Pilskog
Good morning. Good morning, everybody, and welcome to the third quarter presentation for Scatec. Today, we have the pleasure of taking you through another strong quarter of Scatec, and we will also take the opportunity today to give you a bit of a strategy update one year after we presented our self-funded growth plan.
This quarter has been another strong quarter for Scatec. We have strong financials. We have reached several important milestones in terms of growth, and we continue to optimize our portfolio through divestments and farm-downs. And today, I will, as usual, take you through the highlights of the quarter. Hans Jakob will take you through the financials. And then at the end, we will also provide a strategy update, and obviously, all the way to the end, we will also take questions.
So, let’s start with the key highlights, and I’m very happy with what we have achieved in the third quarter. We have achieved in terms of proportionate revenues NOK2.4 billion and we have NOK1.5 billion in proportionate EBITDA for the quarter. Further, we have had good progress in our D&C segment, we have NOK631 million in revenues, and we have achieved 12% gross margin, which is well above our guided range.
Further, during the quarter, we have also reached financial close in Tunisia, that is another 120 megawatts that we bring into construction. And here, we have also entered into a partnership with Aeolus, which is a part of the Toyota Tsusho Group. And bringing in this Japanese investor has been crucial in unlocking this project with them providing very attractive carbon-related financing to
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