Scatec grows revenue, cuts debt, updates 2030 strategy

Scatec ASA announced a 22% increase in proportionate revenues to NOK 2,953m in Q3 2025, with EBITDA reaching NOK 1,063m. Power production contributed NOK 1,178m in revenues and NOK 955m in EBITDA, producing 1,202 GWh. The Development & Construction (D&C) segment saw revenues rise to NOK 1,760m with a gross margin of 11.4%, adding 80 MW/80 MWh of BESS projects in the Philippines to an all-time high backlog of 3,392 MW.

The company significantly deleveraged, repaying NOK 943m of corporate debt in the quarter, reducing gross corporate debt by 27% to NOK 6.7bn, and corporate net interest-bearing debt to NOK 4.3bn. Scatec updated its 2030 strategic roadmap, targeting NOK 1bn in average annual equity investments and a further reduction in corporate interest-bearing debt to NOK 4bn.

Additionally, Scatec plans to realize at least NOK 3.4bn from asset divestments and farm-downs to maintain a self-funding model, focusing on solar PV, BESS, and wind solutions in attractive growth markets. The full-year 2025 proportionate EBITDA estimate has been increased by NOK 50m to a midpoint of NOK 4.35bn, with D&C projects under construction maintaining a 10-12% gross margin.