First quarter results 2026 – Good results in a slower market
Scana ASA delivered a good quarter, with revenue of NOK 417 million, EBITDA of NOK 51 million and an order backlog of NOK 1,084 million. The positive development demonstrates strong discipline across the company and improved profitability. The market has been quieter than desired, but the pipeline remains strong within both oil and gas and electrification.
Q1 2026 Financial Highlights
- Revenue NOK 417 million
- EBITDA NOK 51 million
- EBITDA margin 12 %
- Order intake NOK 312 million
- Order backlog NOK 1,084 million
The Offshore division delivered a quarter of solid activity and strong earnings. At Mongstad, several segments showed clear improvement, particularly Fabrication. The cost base has been adapted to current market conditions, and the focus is now on increased efficiency and higher activity. Mongstad Industrier has been merged into PSW Technology to better utilize synergies and strengthen the position around Mongstad and Fensfjorden. In addition, Subseatec S AB in Sweden secured a contract for riser components for an oil and gas project in Malaysia.
The Energy division continued its positive development during the quarter. The organization remains well positioned for further growth, with the capabilities and capacity needed to scale as market activity is expected to increase. The pipeline is solid, particularly within shore power combined with batteries and e-house modules for the oil and gas market.
Q1 Presentation
Scana’s Q1 2026 results will be presented today at 10:00 CEST by CEO Baste Tveito and CFO Morten Riiser, followed by a live Q&A session.
The webcast presentation can be viewed at this link. The presentation will be available for replay shortly afterward via the same link.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Stian Vikebø, General Counsel at Scana ASA, on 21 May 2026 at 08:00 CEST.
