Scana (SCANA) investor relations material

Executive summary

• Revenue increased by 13% year-over-year to NOK 417 million in Q1 2026, with EBITDA rising to NOK 51 million and significant improvement in profitability and margins compared to Q1 2025, despite a slower market.

• Net profit reached NOK 10.6 million, reversing a loss of NOK 28.7 million in the prior year quarter.

• Order intake declined 40% to NOK 312 million due to an extraordinary high base in Q1 2025, but the pipeline and backlog remain robust, with order backlog at NOK 1,084 million.

• Mongstad Industrier merged into PSW Technology to capture synergies and strengthen regional presence.

• Achieved strong discipline and improved profitability, with a solid pipeline in both oil and gas and electrification sectors.

Financial highlights

• EBITDA margin improved to 12% from -2% in Q1 2025, with adjusted EBITDA at NOK 51.6 million and an adjusted margin of 12%.

• Operating profit (EBIT) margin was 5%, up from -10% in Q1 2025.

• Net interest-bearing debt (NIBD) stood at NOK 71 million, with a liquidity reserve of NOK 176 million.

• CAPEX remained low at NOK 3 million for the quarter.

• Order intake totaled NOK 312 million for the quarter.

Outlook and guidance

• Positioned for growth with a strong pipeline and megatrends supporting the portfolio, especially in oil and gas and electrification.

• Market demand reinforced by EU electrification agenda and ongoing structural margin improvements.

• The Energy division is well positioned for growth as market activity is expected to increase.