Scana ASA: First quarter results 2026 - Good results in a slower market

Bergen, 21 May 2026: Scana ASA delivered a good quarter, with revenue of NOK 417
million, EBITDA of NOK 51 million and an order backlog of NOK 1,084 million. The
positive development demonstrates strong discipline across the company and
improved profitability. The market has been quieter than desired, but the
pipeline remains strong within both oil and gas and electrification.

Q1 2026 Financial Highlights

o	Revenue NOK 417 million
o	EBITDA NOK 51 million
o	EBITDA margin 12 %
o	Order intake NOK 312 million
o	Order backlog NOK 1,084 million

The Offshore division delivered a quarter of solid activity and strong earnings.
At Mongstad, several segments showed clear improvement, particularly
Fabrication. The cost base has been adapted to current market conditions, and
the focus is now on increased efficiency and higher activity. Mongstad
Industrier has been merged into PSW Technology to better utilize synergies and
strengthen the position around Mongstad and Fensfjorden. In addition, Subseatec
S AB in Sweden secured a contract for riser components for an oil and gas
project in Malaysia.

The Energy division continued its positive development during the quarter. The
organization remains well positioned for further growth, with the capabilities
and capacity needed to scale as market activity is expected to increase. The
pipeline is solid, particularly within shore power combined with batteries and
e-house modules for the oil and gas market. 

Q1 Presentation
Scana's Q1 2026 results will be presented today at 10:00 CEST by CEO Baste
Tveito and CFO Morten Riiser, followed by a live Q&A session.

The webcast presentation can be viewed at this link: 
https://investorweb.co/webcastdetail?id=69fc6aea54d8b2e1e55c5b9b

The presentation will be available for replay shortly afterward on Scana's
website, www.scana.no.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Stian Vikebø, General Counsel at Scana ASA, on 21
May 2026 at 08:00 CEST.

For more information, please contact:

Baste Tveito, CEO, Scana ASA, +47 916 69 641

Scana in brief
Scana is an active industrial owner of technology and services to both the
energy and offshore industries. With an industrial history dating back to the
early 1900s, Scana has evolved to become a leader in technology and innovation.
This journey has provided a unique position to shape solutions for tomorrow,
driven by extensive industrial experience combined with quality and value
creation. Scana is headquartered in Bergen and has around 500 employees.
www.scana.no
n. Scana is headquartered in Bergen and has around 500 employees.\
www.scana.no\