First quarter 2024

- result presentation

16 May 2024 | Bergen, Norway

DISCLAIMER

This presentation by Scana ASA is designed to provide a high-level overview of aspects of the operations of Scana ASA.

The material set out in the presentation is current as of 16 May 2024.

This presentation contains forward-looking statements relating to operations of Scana ASA that are based on the management's own current expectations, estimates and projections about matters relevant to Scana ASA's future financial performance. Words such as «likely», «aims», «looking forward», «potential», «anticipates», «expects», «predicts», «plans», «targets», «believes» and «estimates» and similar expressions are intended to identify forward-looking statements.

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16 May 2024

First- Quarter Results 2024

Slide 2

Q1 highlights

  • Delivering the highest revenue in Scana's history.*
  • Successful sale of 10K capping stack releasing NOK 116 million in cash.
  • First dividend payout since 2010.
  • From three to two divisions; Offshore and Energy.

16 May 2024

First- Quarter Results 2024

* In the history of Scana ASA, after reorganizing.

Q1 Highlights

Historic high revenue and EBITDA

Q1 24 vs

Revenue

+35% to

Q1 23

NOK 541 mill.

-

-

Revenue

EBITDA

97

43

58

43

37

401

409

385

412

541

Q1 23

Q2 23

Q3 23

Q4 23

Q1 24

EBITDA

Order backlog

+123% to

-3%to

NOK 97mill.

NOK 1138mill.

-

-d

Order backlog

Order intake

1,035

348

392

487

553

1,171

1,109

1,117

1,196

1,138

Q1 23

Q2 23

Q3 23

Q4 23

Q1 24

16 May 2024

First- Quarter Results 2024

4

Business Areas

  • Our portfolio companies in the offshore segment provide technology and services to the traditional oil and gas industry, shipping, renewable energy, and aquaculture. Their offering includes rig services, IMR lifecycle services, ISS services, BOP and well control, riser applications, wear solutions, mooring solutions, and valve control systems.
  • In the energy segment, our portfolio companies are spearheading the transition to renewable energy sources with technology solutions and services for energy storage, shore power, energy infrastructure, energy modules and solar power.

16 May 2024

First- Quarter Results 2024

Slide 5

Latest within Offshore

New orders

  • Order intake Q1: NOK 369 million
  • West Asset Management AS (NewCo) awarded 10-year contract for operations and maintenance of strategically important properties associated with coastal bases along the Norwegian coastline.
  • Signed contracts for mooring equipment and Subsea well control equipment.
  • Skarpenord's new order from Wartsila for actuators, to their carbon capture solution for vessels.

Operations

  • Turnaround project under execution at Equinor refinery.
  • Continue with major overhaul of well control equipment for various drilling contractors.
  • Following the sale of the 10k capping stack we are continuing serving our customers with a temporary closure device and expanding the reach of our capping services through upgrading the device to a 15k Capping Stack.
  • Strong project executions.

Outlook

  • Strong market fundamentals within oil&gas and energy transition.
  • Increased activity levels around the Fensjord basin within both oil&gas and renewables expected to drive both short- and long-term growth.
  • The subsea market is considered strong, increased activity in the coming quarters in a market with higher margins.
  • Increased international focus with our well control and capping stack services being in demand in Namibia.

16 May 2024

First- Quarter Results 2024

7

Latest within Energy

New orders

  • Order intake Q1: NOK 198 million
  • Signed several strategic contracts within Energy storage Systems, both stationary BESS and Mobile Energy solutions. Increasing marked position in Sweden and The Netherlands.
  • New contract for Emergency Power modules for Datacenter terminals in Norway.

Operations

  • Record-highgrowth in revenue.
  • Geared to respond to market developments, with a strengthened organizational team and strategic inventory buildup.
  • Established Swedish office in Karlstad supporting the ongoing and expected market growth in the region
  • Strong focus on R&D project and software development supporting.

Outlook

  • Strong market fundamentals within energy storage and electrification.
  • Strong project pipeline.
  • Exploring various strategic business models and financial solutions, hence the launch of entry into the balancing market. By entering the balancing market, we will be able to generate both short-term and long-term revenue streams from our battery storage connected to the power grid.

16 May 2024

First- Quarter Results 2024

9

Financial

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Scana ASA published this content on 16 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2024 06:05:31 UTC.