August 24 ,2022
Second quarter results 2022 – Scana wins pivotal contracts with electrification offerings
Bergen, 24 August 2022: In the second quarter, profitability rose, while revenues were 126 per cent higher than in the same quarter last year. Scana’s revenues increased to NOK 206 million and EBITDA to NOK 20 million, representing a margin of 9.7 per cent.
“We are now entering new markets with a growing product portfolio, and our European expansion is gaining speed. During the quarter we won pivotal contracts for our new electrification offerings in Sweden, Iceland, Germany and Netherlands, including fast charging systems for electric ferries and mobile battery systems for industrial use,” says Styrk Bekkenes, CEO of Scana.
The order backlog rose 11 per cent from the first quarter to NOK 444 million, a new record high. The order intake for the quarter was NOK 270 million, compared to NOK 33 million same quarter last year and NOK 248 million the previous quarter. The order intake represents a book-to-bill of 1.3 times.
With a new set of portfolio companies, Scana is organized in three business areas: Offshore, Energy and Maritime. Energy consists of Scana’s businesses contributing to the electrification onshore and offshore and is the largest business area measured by order book. This quarter Offshore had the largest revenues and EBITDA, while Maritime had the strongest order intake with 1.8 times book-to-bill for the quarter. A mooring contract with delivery in Brazil was the most significant order for this business area in the quarter.
“The strong order book we see in Energy reflects our leading role in the electrification megatrend. Within Offshore, tendering activities remain at a high level. While continuous high energy prices provide a good macro environment for our business areas, improvement in revenue and profitability are pending on timing and success-rate on ongoing tenders,” says Bekkenes.
Please find the presentation material and the interim report for the second quarter 2022.
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