Scatec ASA

Earnings Release • Jan 25, 2019

Fourth quarter results 2018 - Solid operational performance and strong financial results

Fourth quarter results 2018 - Solid operational performance and strong financial results

Oslo, 25 January 2019: Scatec Solar delivered solid operational performance and

strong financial results in fourth quarter 2018 with proportionate revenues of

NOK 1,666 million (444), and EBITDA of NOK 329 million (106). Power production

reached 108 GWh on proportionate basis, an increase of more than 50% from the

same period last year.

The revenues more than tripled compared to the same quarter last year,

reflecting continued high activities in the Development & Construction segment

with revenues of NOK 1,466 million (294), EBITDA of NOK 202 million (10) and a

gross margin of 16%. For the Power Production segment, new plants in operation

contributed to increase in volume and results.

"The fourth quarter has been one of the most eventful quarters ever for Scatec

Solar. We have grid connected new projects in Brazil and Malaysia, increasing

our total installed capacity to 584 MW. We have also reached major milestones

with financial close and start of construction for new solar plants in

Argentina, Malaysia and Ukraine, as well as continued high construction activity

across six countries as we realise 1.1 GW of new capacity. Our record

achievements in 2018 within several areas give us a solid basis to develop our

business further in 2019 and beyond", says Raymond Carlsen, CEO of Scatec Solar

Scatec Solar's fourth quarter consolidated revenues reached NOK 344 million

(282), and EBITDA reached NOK 257 million (207).

For the full year 2018, Scatec Solar's proportionate revenues reached NOK 4.7

billion, up from NOK 1.7 billion in 2017. EBITDA reached NOK 961 million, up

from 792 million in 2017. Cash flow to Scatec Solar's equity across all business

segments reached NOK 481 million in 2018, compared to NOK 265 million in 2017.

The Board of Directors has proposed 2018 dividends of NOK 0.95 per share - to be

approved by the Annual General Meeting to be held on 30 April 2019.

For further details, please see the attached fourth quarter report and

presentation.

A presentation of the results will be held today at 08.00 at Høyres Hus,

Stortingsgata 20, Oslo. The presentation and Q&A session can also be followed

through a live webcast from our website www.scatecsolar.com/investor.

For further information, please contact:

Mikkel Tørud, CFO tel: +47 976 99 144 mikkel.torud@scatecsolar.com

(mailto:mikkel.torud@scatecsolar.com)

Ingrid Aarsnes, VP Communication & IR tel: +47 950 38 364

ingrid.aarsnes@scatecsolar.com (mailto:ingrid.aarsnes@scatecsolar.com)

About Scatec Solar

Scatec Solar is an integrated independent solar power producer, delivering

affordable, rapidly deployable and sustainable clean energy worldwide. A long-

term player, Scatec Solar develops, builds, owns, operates and maintains solar

power plants and has an installation track record of more than 1 GW. The company

has a total of 1.7 GW in operation and under construction in Argentina, Brazil,

the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South

Africa and Ukraine.

With an established global presence and a significant project pipeline, the

company is targeting a capacity of 3.5 GW in operation and under construction by

end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the

Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit

www.scatecsolar.com.

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

Attachments

* Scatec Solar Q4 2018 Presentation (https://ml-

eu.globenewswire.com/Resource/Download/2819f723-f28e-4017-9be9-1ec877016dc2)

* Scatec Solar Q4 2018 Report (https://ml-

eu.globenewswire.com/Resource/Download/d4288a6b-a215-48fd-b623-8d7c32322fd1)