EL7.AI
StocksMedium•1 November 2026•
3 min read

Scatec reports 1.003 billion kroner loss attributable to shareholders in third quarter

Key Facts

1Scatec’s loss attributable to shareholders was 1.003 billion kroner in the third quarter of 2026, compared with a loss of 3 million kroner a year earlier.
2The company recorded consolidated impairment losses of 1.150 billion kroner on assets in Ukraine and Pakistan.
3Scatec cut its 2026 proportional EBITDA forecast for power production by 300 million kroner to a range of 3.3–3.6 billion kroner.
4Proportional power production was 1,469 gigawatt-hours, compared with 1,202 gigawatt-hours a year earlier.

Scatec reported on October 30 a loss attributable to shareholders of 1.003 billion Norwegian kroner in the third quarter of 2026, compared with a loss of 3 million kroner in the same period of 2025. The result marks a sharp decline from a year earlier, alongside the company’s recognition of large impairment losses on its assets. Total revenue and other income was 1.677 billion kroner, compared with 1.080 billion a year earlier. The company also lowered its full-year forecast for EBITDA from power production. A company statement attributed a major part of the losses to asset valuations in Ukraine and Pakistan.

Scatec recorded impairment losses of 1.150 billion kroner on a consolidated basis and 1.066 billion kroner on a proportional basis. The company said the adjustments reflect increased uncertainty around expected cash flows, alongside country risk premiums and long-term interest rates. The losses were linked to the company’s assets in Ukraine and Pakistan, according to the results statement. This added a significant accounting burden alongside improved operating activity in the power production segment during the period. The company presented consolidated and proportional figures separately for impairment losses, as it did for other performance indicators.

In power production, revenue was 1.301 billion kroner in the third quarter, compared with 1.178 billion kroner a year earlier. Segment EBITDA reached 1.070 billion kroner, versus 955 million in the same period of 2025. The company attributed the growth to new plants entering operation. Proportional power production reached 1,469 gigawatt-hours, compared with 1,202 gigawatt-hours a year earlier. The CEO said new assets lifted production by 22%, while the company continued to face operational disruptions in Ukraine and the suspension of the reserve market in the Philippines.

Scatec cut its 2026 proportional EBITDA forecast from power production by 300 million kroner, to a range of 3.3 billion to 3.6 billion kroner. The previous range, announced with its second-quarter results, was 3.6 billion to 3.9 billion kroner. The company said the revision reflects lower expected revenue in the Philippines, Ukraine, South Africa and Pakistan, by 80 million, 30 million, 40 million and 40 million kroner, respectively. The revised forecast includes 80 million kroner linked to the suspension of the reserve market in the Philippines. The CEO said the suspension will affect near-term earnings, while demand for ancillary services remains strong, with a limited long-term impact expected.

In Ukraine, the company said attacks on energy infrastructure continue to disrupt operations, adding that employee safety is a priority. The disruption adds to the factors behind the revision across multiple markets, while new power plants increased production and segment revenue. During the third quarter, Scatec also announced the issuance of a 1.5 billion kroner bond at a rate of 3-month NIBOR plus 250 basis points to refinance an earlier bond. The company said financing terms had improved. Its next quarterly report is scheduled for January 29, 2027.