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Scana (SCANA) investor relations material
Scana Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was NOK 383 million, down 12% year-over-year, with EBITDA at NOK 38 million and adjusted EBITDA at NOK 39 million; profitability improved in offshore but remained weak in energy.
Order intake reached NOK 453 million, down 8% year-over-year, but order backlog increased 10% to NOK 1.25 billion, supporting future growth.
Cost reduction programs, including workforce reductions, are delivering results, especially in offshore and HQ, with further positive effects expected in Q4.
Loss before and after tax was negative NOK 1 million, compared to a profit of NOK 18 million in Q3 2024.
Financial highlights
Offshore division revenue increased 22% year-over-year to NOK 301 million, while energy division revenue dropped 55% to NOK 92 million.
Group EBITDA margin was 10%, with EBIT at NOK 6 million; adjusted EBITDA was NOK 39 million, down 39% year-over-year.
Net interest-bearing debt (excluding leases) rose to NOK 142 million, with a liquidity reserve of NOK 109 million at quarter-end.
Net working capital increased to NOK 165 million, mainly due to higher offshore activity.
Positive operating cash flow of NOK 17 million, with capex at NOK 8 million.
Outlook and guidance
Order backlog supports long-term value creation, with NOK 318 million expected to be delivered in 2025 (NOK 123 million from energy, NOK 195 million from offshore).
Energy division expected to see higher revenue in Q4 due to strong order intake and cost reductions, though project-based nature introduces uncertainty.
Cost reduction programs in energy are nearing completion, with expected positive effects from Q4 2025.
Focus remains on building recurring revenue streams and expanding the product portfolio, especially in sustainable maritime electrification.
Market prospects are strong in both traditional and new segments, especially for combined battery storage and shore power solutions.
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