Fourth quarter results 2024
Offshore drives growth, while Energy secures long-term revenues.
Scana reports revenue growth in the last quarter, up from the same period in 2023, driven by contributions from both offshore and energy, reflecting sustained market activity.
Q4 2024 Financial Highlights
- Revenue NOK 448 million
- EBITDA NOK 26 million
- EBITDA margin 5,9 %
- Order intake NOK 329 million
- Order backlog NOK 1008 million
The Energy division has strengthened its energy storage portfolio taking a strong position in the Nordic and Baltic energy transition. Frame agreements for BESS and module deliveries to data centers provide a solid platform for future growth. EBITDA saw a significant increase, driven by an improved product mix.
The Offshore division continues to deliver strong underlying margins across subsea, surface treatment, and mechanical project deliveries. International expansion remains a priority, with a new joint venture in Singapore for valve control systems and continued focus on the Namibian oil & gas market.
The overall EBITDA margin declined in the quarter due to one-off costs. Excluding this impact, the underlying profitability remains stable, and the company continues to focus on operational efficiency and margin improvements going forward. The business model remains robust, with key growth drivers intact. A low debt ratio provides financial flexibility and capacity for further strategic initiatives.
Overall, 2024 has overall been a good year for Scana, with revenues of 1970 million, an EBITDA of 261 million, corresponding to an EBITDA-margin of 13,2%. In 2024 Scana paid out dividends to its shareholders for the first time since 2010.
Read the full report here:
Q4 Presentation
Today, at 10:00 CET, Scana presented the Q4 2024 results in an online session via Investorweb. The presentation was held by Pål Selvik, CEO, and Torvald Ulland Reiestad, CFO.
A recording of the presentation is available here.
