Scana — Earnings Release 2023

Nov 1, 2023

Scana ASA: Third quarter results 2023

Scana ASA: Third quarter results 2023

Scana’s Energy division delivers all-time high revenue and order backlog

Bergen, 1 November, 2023: Scana (the Company) has delivered a quarter with significant growth in revenues and margins compared to the third quarter last year. The Company has won several new key contracts within energy storage and in the Gulf of Mexico for subsea work. Scana delivers strong operational cashflow and NIBD development. Across all divisions the Company experience high demand and tendering activity.

3Q 2023 Financial Highlights

· Revenue NOK 385 million

· EBITDA NOK 43 million

· EBITDA margin 11.2 %

· Order intake NOK 392 million

· Order backlog NOK 1,117 million

“Scana continues to demonstrate strong growth, building upon the momentum from the previous quarters this year. The positive trend has been evident across all divisions this year, and this quarter particularly impressive figures are emerging from our Energy division. Our entry into grid-scale battery storage in Sweden, coupled with the securing of several new contracts post-quarter, illustrates our sustained momentum and position in the market,” says Pål Selvik, CEO of Scana.

“This quarter we had some important wins for our Offshore division in the Gulf of Mexico, and we see that the offshore market is still strong both internationally and nationally. The company secured an important framework agreement with Odfjell Drilling AS after the quarter's closure, further confirming our position in the offshore market,” concludes Selvik.

The live webcast with presentation can be accessed using the following link:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_ODczZDQ3YjktNGM2Yy00MWMxLTkwMzctMWYxY2JkMDQ0ZjE3%40thread.v2/0?context=%7B%22Tid%22%3A%2209541643-bfcd-4458-b6c4-62dffd52c81a%22%2C%22Oid%22%3A%22923f0bea-138e-4d71-9534-b1bc9be3ce0c%22%2C%22IsBroadcastMeeting%22%3Atrue%2C%22role%22%3A%22a%22%7D&btype=a&role=a

The webcast will be available for replay shortly after on Scana's web site, www.scana.no.

For more information, please contact:

Pål Selvik, CEO, Scana ASA, +47 970 46 502, pal.selvik@scana.no

Torvald Ulland Reiestad, CFO, +47 97 98 78 95, torvald.reiestad@scana.no

Anette Netteland Dybvik, Head of IR and Communication, +47 41 66 77 87, anette.dybvik@scana.no

Scana in brief

Scana is a listed industrial owner company in the ocean industries creating value through active ownership in market-leading portfolio companies. Scana is headquartered in Bergen and has approximately 450 employees. www.scana.no