Scatec ASA

Earnings Release • Apr 26, 2019

First quarter results 2019 – Continued strong growth and solid financial results

First quarter results 2019 – Continued strong growth and solid financial results

Oslo, 26 April 2019: Scatec Solar continued to deliver strong growth and solid

financial results in first quarter 2019 with proportionate revenues of NOK

1,528 million (572), and EBITDA of NOK 315 million (109). Power production

reached its highest level ever with 133 GWh on proportionate basis, almost

doubling production compared to the same period last year.

First quarter revenues and EBITDA increased almost threefold compared to the

same quarter last year. This reflects continued high construction activities in

the Development & Construction segment with revenues of NOK 1,297 million (417),

EBITDA of NOK 159 million (15) and a gross margin of 14%. In the Power

Production segment, it was the first full quarter of production for the new

plants in Brazil and Malaysia which both contributed to increased revenues and

EBITDA.

"We continue our solid deliveries in the first quarter with high construction

activity on four continents and significant project development activity. With

the first 65 MW in Egypt grid connected in April, our installed capacity reached

649 MW, and we plan to grid connect substantial new capacity in the next few

quarters. With continued strong market growth, we will utilise our market

position to further grow a diversified business", says CEO of Scatec Solar

Raymond Carlsen.

Scatec Solar's first quarter consolidated revenues were NOK 327 million (289),

and EBITDA reached NOK 242 million (150).

For further details, please see the attached first 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

(http://www.scatecsolar.com).

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 (http://www.scatecsolar.com).

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act