Scatec ASA (STU:66T)

€ 6.765 -0.11 (-1.6%) Market Cap: 1.10 Bil Enterprise Value: 3.17 Bil PE Ratio: 6.76 PB Ratio: 1.26 GF Score: 91/100

Q1 2021 Scatec ASA Earnings Call Transcript

Apr 30, 2021 / 06:00AM GMT

Transcript

Raymond Carlsen

Scatec ASA - CEO

Good morning. Mike and I are here to present you the first quarter results for 2021 and the headline as you put in today is strong growth and solid cash flow. We are enjoying the proceeds from SM Power for the first time after having completed the transaction, the acquisition transaction in January this year. We have had a good quarter in hydro production, both in terms of hydrology and also revenue, particularly from the Philippines.

The overall production came to 854 GWh. That's more than 2x up since the first quarter last year. And correspondingly, the part production cash flow to equity reached NOK 681 million. As we have informed you previously, we have had financial closure of -- in Pakistan, and we have now also started the construction. We enjoyed sharing with you all our ambitions towards 2025, and we will then aim for 15 gigawatts to be installed, resulting in a CapEx of NOK 100 billion.

If you look at our portfolio, that is under construction or in operation, we are more -- at more than 3,000 -- 3,500 megawatts at the moment. We continue to

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