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Scatec ASA first quarter 2021: Strong growth and solid cash flow generation

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Oslo, 30 April 2021: Scatec delivered proportionate revenues of NOK 1,010 million (866) with EBITDA of NOK 636 million (346) and associated EBITDA margin of 63% in first quarter 2021. Power production is more than doubled from the same quarter last year and reached 854 GWh with strong contributions from hydropower, especially in the Philippines.

With a larger portfolio of power plants in operation after the acquisition of SN Power earlier this year, both revenues and EBITDA increased significantly in the Power Production segment to NOK 924 million (391) and NOK 704 million (331) respectively. Cash flow to equity for the Group also increased substantially to NOK 571 million (107), which included a refinancing gain related to the hydropower plant on the Philippines.

“In our first quarter as a broader renewable company, we are pleased to report stable operations as well as strong growth in power production and cash flow. We recently started construction of our 150 MW solar project in Pakistan and several large projects in our backlog and pipeline are expected to start construction this year”, says Raymond Carlsen, CEO of Scatec.

In March, Scatec announced its 2025 growth target of 15 GW capacity and investments of NOK 100 billion. The target is supported by our track record of strong growth and a solid project pipeline across several renewable technologies.

Scatec’s first quarter consolidated revenues were NOK 831 million (625), with EBITDA of NOK 631 million (503). The consolidated net profit was NOK 42 million.

For further details, please see the attached first quarter report and presentation.

A presentation of the results followed by a Q&A session will be held through a live webcast today at 08:00 am CEST. You can follow the webcast from our website: www.scatec.com, or this direct link: Scatec Webcast Q1 2021 (royalcast.com). You may ask questions through the webcast solution or email your question in advance to ir@scatec.com.

EBITDA and other alternative performance measures (APMs) are defined and reconciled as a part of the APM section of the attached quarterly report on pages 37-40.


For further information, please contact:

Mikkel Tørud, CFO, tel: +47 976 99 144, ir@scatec.com
Ingrid Aarsnes, VP Communication & IR, tel: +47 950 38 364, ingrid.aarsnes@scatec.com

About Scatec ASA:
Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, Scatec develops, builds, owns and operates solar, wind and hydro power plants and storage solutions. Scatec has more than 3.5 GW in operation and under construction on four continents and more than 500 employees. The company is targeting 15 GW capacity in operation or under construction by the end of 2025. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com, or connect with us on Linkedin.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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Source: https://www.globenewswire.com/news-release/2021/04/30/2220340/0/en/Scatec-ASA-first-quarter-2021-Strong-growth-and-solid-cash-flow-generation.html

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USAF, Kratos Release Additional Details of Successful Autonomous Attritable Aircraft Experimentation (AAAx) Flight Series

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SAN DIEGO, May 13, 2021 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider and industry-leading provider of high-performance unmanned systems, today released additional information on the successful series of flight tests with the Skyborg autonomy core system (ACS) aboard Kratos UTAP-22 Mako tactical unmanned vehicles at Tyndall AFB, Florida. This most recent series of Mako flights occurred from April 29, 2021-May 5, 2021.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/990ab7e6-e1a5-4d74-a110-8d4bc6a26741

U.S Air Force Test Center Video: (99+) Post | LinkedIn

The U.S. Air Force reported:

The 96th Test Wing took part in a series of flight tests using a 19-foot unmanned aircraft launched from Tyndall Air Force Base from April 29 to May 5.

Inside the aircraft, the Autonomy Core System, the “brain” of the autonomous aircraft, made its first three flights for the Autonomous Attritable Aircraft Experiment.

The ACS is part of the AFRL Skyborg Vanguard program. Skyborg’s goal is to develop low cost, unmanned aircraft to provide increased combat capability by teaming those aircraft with traditional manned fighters.

The ACS operates by receiving basic commands from a ground station or airborne fighter and flies the aircraft by deciding on the best flight path and throttle settings to comply with the command.

With this testing, autonomy technology moved from research to reality.

“The execution of this flight test is a great milestone for our closely integrated development and acquisition team. Safely executing this test and providing the knowledge needed to advance the technology is at the heart of what we do. And as always, we’re highly motivated to help bring war-winning technology to the next fight,” said Brig. Gen. Scott Cain, 96th TW commander.

Aircraft controllers on the ground provided commands to the ACS during this test series. In the future, the plan is for direct manned-unmanned teaming via commands sent from a manned F-16 Fighting Falcon to the ACS onboard the unmanned aircraft. These commands could task the ACS “brain” to find and track targets by flying the aircraft to the area of interest and reporting enemy contact locations to the manned fighter.

“This test is a significant step toward teaming manned and unmanned aircraft in combat in the not-too-distant future,” said Maj. Nathan McCaskey, 40th Flight Test Squadron Test Pilot and AAAx Project Pilot. “Unmanned aircraft using the autonomy system developed for this experiment could go places where manned fighters can’t go, providing sensor information back to manned teammates, increasing the power projection capability of the Air Force.”

McCaskey, the lead pilot for the AAAx missions, flew the closest ever manned fighter to an unmanned aircraft under autonomous control in DOD history.

This test demonstrated the building blocks of the autonomous capability. The ACS demonstrated proficiency in basic aviation abilities and responded to commands while navigating in a shared airspace with up to four manned fighter aircraft, including both F-16s and F-15Es from the 40th FLTS.

Planning efforts by Air Force Research Laboratory Strategic Development Planning and Experimentation office, combined with test wing expertise helped make this autonomy test a reality.

“SDPE’s experience with rapid experimentation coupled with 40th expertise in planning and executing complex test resulted in a successful test on an accelerated timeline.” said Lt. Col. Richard Turner, 40th FLTS commander.

Several other organizations also substantially contributed to the success of the test series, including the 46th Test Squadron here and the 82nd Aerial Targets Squadron at Tyndall.

Steve Fendley, President of Kratos Unmanned Systems Division, said, “With the multiple missionization programs/efforts tied to the UTAP-22 Mako over the last several years, we have developed key tactical capability configurations and informed capability configurations and techniques which will also apply to the Valkyrie XQ-58A. We are particularly proud that Kratos Tactical UAS have flown in scenarios with many of the primary U.S. manned fighters/trainers – F-35, F-22, T-38, AV-8B, and now the F-16 as shown in the recent USAF photos – exemplifying the utility and capability of these attritable tactical UAS.”

Eric DeMarco, CEO of Kratos Defense and Security Solutions, said, “Kratos’ opportunity set has never been greater across our Company; our tactical unmanned drones system progress has been accelerating rapidly as our affordable, attritable class of high-performance drones continue to demonstrate their industry-leading position. With our accomplishments and success over the past few months, our confidence in Kratos’ transformative systems and products has never been greater.”

Kratos Unmanned Systems Division is a leading provider of high performance unmanned aerial drone and target systems for threat representative target missions to exercise weapon, radar, and other systems; and tactical aerial drone systems for strike/ISR and force multiplication missions. In December 2020, Kratos received a $37.7 million contract from the AFLCMC/WA Advanced Aircraft Program Executive Office for Skyborg Delivery Order (DO) 2 to integrate, test, and deliver the XQ-58A Valkyrie system for the Skyborg Vanguard Program.

Kratos announced its UTAP-22 Mako completed the first Skyborg flight on Wednesday, May 5, 2021.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information, please visit www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

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Source: https://www.globenewswire.com/news-release/2021/05/13/2229077/224/en/USAF-Kratos-Release-Additional-Details-of-Successful-Autonomous-Attritable-Aircraft-Experimentation-AAAx-Flight-Series.html

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Grupo Aeroportuario del Pacifico Announces Payment Date for Capital Stock Reduction Approved at the General Extraordinary Shareholders’ Meeting

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GUADALAJARA, Mexico, May 12, 2021 (GLOBE NEWSWIRE) — Grupo Aeroportuario del Pacifico, S.A.B. de C.V. (NYSE: PAC; BMV: GAP) (the “Company” or “GAP”) announces that on May 28, 2021 it will be made the capital reduction payment approved at the General Extraordinary Shareholders’ Meeting held on April 27, 2021.

The capital reduction payment will be in accordance with the second resolution approved during the Extraordinary Shareholders’ Meeting and is equivalent to Ps. 3.8230950615 for each outstanding share.

The capital reduction payment corresponds to the thirty such payment.

Company Description:

Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP) operates 12 airports throughout Mexico’s Pacific region, including the major cities of Guadalajara and Tijuana, the four tourist destinations of Puerto Vallarta, Los Cabos, La Paz and Manzanillo, and six other mid-sized cities: Hermosillo, Guanajuato, Morelia, Aguascalientes, Mexicali and Los Mochis. In February 2006, GAP’s shares were listed on the New York Stock Exchange under the ticker symbol “PAC” and on the Mexican Stock Exchange under the ticker symbol “GAP”. In April 2015, GAP acquired 100% of Desarrollo de Concessioner Aeroportuarias, S.L., which owns a majority stake in MBJ Airports Limited, a company operating Sangster International Airport in Montego Bay, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica. In October 2018, GAP entered into a concession agreement for the operation of the Norman Manley International Airport in Kingston, Jamaica and took control of the operation in October 2019.

This press release may contain forward-looking statements. These statements are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words “anticipates,” “believes,” “estimates,” “expects,” “plans” and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial conditions, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.

In accordance with Section 806 of the Sarbanes-Oxley Act of 2002 and article 42 of the “Ley del Mercado de Valores”, GAP has implemented a “whistleblower” program, which allows complainants to anonymously and confidentially report suspected activities that may involve criminal conduct or violations. The telephone number in Mexico, facilitated by a third party that is in charge of collecting these complaints, is 01-800-563-0047. The web site is www.lineadedenuncia.com/gap. GAP’s Audit Committee will be notified of all complaints for immediate investigation.

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Source: https://www.globenewswire.com/news-release/2021/05/12/2228798/0/en/Grupo-Aeroportuario-del-Pacifico-Announces-Payment-Date-for-Capital-Stock-Reduction-Approved-at-the-General-Extraordinary-Shareholders-Meeting.html

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Kratos to Present at the 16th Annual Needham Virtual Technology & Media Conference

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SAN DIEGO, May 12, 2021 (GLOBE NEWSWIRE) — Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a leading National Security Solutions provider, today announced that its President & CEO, Eric DeMarco, and its Executive VP & CFO, Deanna Lund, will present at the 16th Annual Needham Virtual Technology & Media Conference on May 18th at 2:15pm Eastern.

A live webcast of Kratos’ presentation will be available on the Company’s website at https://ir.kratosdefense.com/events-presentations. The webcast will be archived on the Company’s website for 90 days following the event.

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology, and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Press Contact:
Yolanda White
858-812-7302 Direct

Investor Information:
877-934-4687
investor@kratosdefense.com

 

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Source: https://www.globenewswire.com/news-release/2021/05/12/2228639/224/en/Kratos-to-Present-at-the-16th-Annual-Needham-Virtual-Technology-Media-Conference.html

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Scatec ASA – Initiation of a share buyback for Employee Share Purchase Programme

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Oslo, 12 May 2021: Scatec ASA (“Scatec” or the “Company“) has decided to initiate a buyback of up to 43,907 of its own shares for a total maximum amount of NOK 13,172,100. The buyback programme may be carried out in the period from this announcement and until 20 May 2021.

The purpose of the programme is to acquire shares that can be sold to employees as part of the Company’s Employee Share Purchase Programme as announced in the stock exchange announcement published 5 May 2021 at 08.00 (CEST) in compliance with the EU Market Abuse Regulation article 5, and as approved by the General Meeting of the Company.

The Company has engaged DNB Bank ASA to carry out the buyback. The buybacks will be made in accordance with the authorisation granted to the Board of Directors by the Company’s Annual General Meeting held on 20 April 2021. According to the authorisation, up to 830,000 shares may be purchased at a minimum of NOK 1 and a maximum of NOK 1,000 per share. The authorisation is valid until the Annual General Meeting in 2022, however no later than 30 June 2022.

All acquisitions under the buyback programme will be executed on Euronext Oslo Børs. The execution of any repurchases will depend on market conditions, the buyback programme may be discontinued at any time and the Company may resolve to terminate the buyback programme before the threshold set out above is reached.

Scatec does not hold any own shares as of the date of this announcement.

For further information, please contact:
Ingrid Aarsnes, VP Communication & IR, tel: +47 950 38 364, email: ingrid.aarsnes@scatec.com 

About Scatec ASA:
Scatec is a leading renewable power producer, delivering affordable and clean energy worldwide. As a long- term player, Scatec develops, builds, owns and operates solar, wind and hydro power plants and storage solutions. Scatec has more than 3.5 GW in operation and under construction on four continents and more than 500 employees. The company is targeting 15 GW capacity in operation or under construction by the end of 2025. Scatec is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’. To learn more, visit www.scatec.com, or connect with us on Linkedin.

This is information is made public by the Company pursuant to the EU Market Abuse Regulation article 5, as supplemented by Commission Delegated Regulation (EU) 2016/1052 and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

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Source: https://www.globenewswire.com/news-release/2021/05/12/2228455/0/en/Scatec-ASA-Initiation-of-a-share-buyback-for-Employee-Share-Purchase-Programme.html

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