A robust quarter that concludes a record year for Scana.

Bergen, 23 February 2024: Scana (the Company) has delivered a solid quarter with
significant growth in revenues and margins compared to the fourth quarter last
year. The energy division is accelerating growth, replacing offshore revenue
with energy storage and modules. Furthermore, high end Offshore customers such
as Odfjell Drilling, and a Norwegian E&P company has reiterated their trust in
our services through the award of multiyear frame agreements. 

Strong operational cashflow in the quarter and the announced divestment of well
control preparedness equipment in Q1 2024 provides a strong fundament for growth
investments and dividend distribution.

4Q 2023 Financial Highlights

·	Revenue NOK 412 million
·	EBITDA NOK 37 million
·	EBITDA margin 9.0 %
·	Order intake NOK 487 million 
·	Order backlog NOK 1,196 million

2023 Full-Year Financial Highlights

·	Revenue NOK 1,606 million
·	EBITDA NOK 181.3 million
·	EBITDA margin 11.3 %
·	Order intake NOK 2,262 million 

"With this quarter Scana conclude a transformational year with increased revenue
and profitability demonstrating the positive effects of the PSW acquisition in
2022. The energy division is especially delivering this quarter, with revenue
increase to all time high level, combined with important wins with new contracts
for deliveries of BESS," says Pål Selvik, CEO of Scana. 

"This quarter our maritime division has delivered high profitability and our
offshore division had notable wins with frame agreements for capping stack
services and marine risers and subsea equipment services. After the quarter's
close West Asset Management AS (NewCo) was awarded a 10-year contract for
operations and maintenance of strategically important properties associated with
coastal bases along the Norwegian coastline giving a great start to 2024,"
concludes Selvik. 

The webcast presentation can be watched from this URL from 08:00 CET:
https://channel.royalcast.com/landingpage/hegnarmedia/20240223_2/
Questions can be submitted during the live webcast.

The presentation will be available for replay shortly after on Scana's web site,
www.scana.no.


For more information, please contact: 
Pål Selvik, CEO, Scana ASA, +47 970 46 502 
Torvald Ulland Reiestad, CFO, +47 97 98 78 95 
Anette Netteland Dybvik, Head of IR and Communication, +47 41 66 77 87


Scana in brief 
Scana is a listed industrial owner company in the ocean industries creating
value through active ownership in market-leading portfolio companies. Scana is
headquartered in Bergen and has approximately 500 employees. www.scana.no