| INTANGIBLE ASSETS AS OF 31.12.24 | GOODWILL | DEVELOPMENT COSTS | CUSTOMER RELATIONSHIPS | TOTAL |
| ACCUMULATIVE COSTS | ||||
| Opening balance | 296.6 | 56.2 | 46.9 | 399.7 |
| Additions | 0.0 | 10.0 | 0.0 | 10.0 |
| Disposals | 0.0 | -1.0 | 0.0 | -1.0 |
| Acquisitions | 27.2 | 0.0 | 0.0 | 27.2 |
| Translation difference | 0.0 | 0.1 | 0.0 | 0.1 |
| Accumulated as of 31.12. | 324.2 | 65.2 | 46.9 | 436.4 |
| AMORTISATION/IMPAIRMENT | ||||
| Opening balance | -10.7 | -22.3 | -9.4 | -42.4 |
| Amortisation | 0.0 | -4.3 | -4.7 | -9.0 |
| Impairment | 0.0 | -2.1 | 0.0 | -2.1 |
| Disposals | 0.0 | 0.6 | 0.0 | 0.6 |
| Translation difference | 0.0 | -0.1 | 0.0 | -0.1 |
| Accumulated as of 31.12. | -11.1 | -28.2 | -14.1 | -53.4 |
| Book value as of 31.12 | 313.1 | 37.0 | 32.8 | 382.9 |
| The linear depreciation method is used | ||||
| Amortisation period in no. of years | No | 5-10 | 10 |
NOTE 11 - IMPAIRMENT
IMPAIRMENT TESTS
For impairment testing, goodwill acquired through business combinations are allocated to either Offshore and Energy CGUs.
Scana tests for impairment annually or more frequently if there are indicators of impairment. Scana assesses various impairment indicators, including the ratio between market value on the Oslo stock exchange and book value of equity, market development, lower than expected earnings and changes in market interest rates. As of 31 December 2025, the market value of the company is higher than the book value of the equity, which does not indicate impairment of goodwill or other assets in the various CGUs.
CGU-OFFSHORE
CGU-OFFSHORE consists of PSW Technology AS PSW Solutions AS and Mongstad Industrier AS. The carrying amount of goodwill allocated to this CGU as of 31 December 2025 is NOK 106.8 million. The recoverable amount of this CGU was based on its value in use, determined by discounting the future cash flows to be generated from the continuing use of the CGU. The calculations are based upon estimated future cash flows for the cash generating unit, OFFSHORE. The estimated future cash flows are based upon budgets and long-term business plan covering a five-year period. The cash flows are based on the managements and the board\u2019s best estimate.
Per end of December 2025 estimated recoverable amount exceeds the carrying amount of the CGU, and management did not identify an impairment for this CGU.
CGU-ENERGY
![\"\"](\"data:image/svg+xml;base64,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\"/)
CGU-ENERGY consists of PSW Power & Automation AS. The carrying amount of goodwill allocated to this CGU as of 31 December 2025 is NOK 206.4 million. The recoverable amount of this CGU was based on its value in use, determined by discounting the future cash flows to be generated from the continuing use of the CGU. The calculations are based upon estimated future cash flows for the cash generating unit, ENERGY. The estimated future cash flows are based upon budgets and long-term business plan covering a five-year period. The cash flows are based on the managements and the board\u2019s best estimate. In addition, management has assessed several alternative scenarios to reflect potential variations in key assumptions.
Per end of December 2025 estimated recoverable amount exceeds the carrying amount of the CGU, and management did not identify an impairment for this CGU.
KEY ASSUMPTIONS
The values assigned to the key assumptions represent management\u2019s conservative assessment of future trends in the relevant industries and have been based on historical data from both external and internal sources. The calculation of value in use for CGU-ENERGY and CGU-OFFSHORE is most sensitive to the following assumptions:
| KEY ASSUMPTIONS | ENERGY | OFFSHORE |
| Average operating margin for the next five years | 4.0 % | 7.0 % |
| Discount rate (nominal before tax) | 11.6 % | 14.3 % |
| Average growth rate per year next five years | 12.2 % | -0.2 % |
| Growth rate per year after next five year (nominal) | 2.0 % | 2.0 % |
| Value in use | 276.7 | 230.5 |
| Headroom | 31.2 | 81.5 |
Operating margins \u2212 Estimated taking into account past experience.
Discount rates \u2212 Discount rates represent the current market assessment of the risks specific to each CGU. The discount rate calculation is based on the specific circumstances of Scana Group and its GGU\u2019s and is derived from its weighted average cost of capital (WACC). The WACC takes into account both debt and equity. The cost of equity is derived from the expected return on investment by the Group\u2019s investors. The cost of debt is based on the interest-bearing borrowings Scana Group is obliged to service. Segment-specific risk is incorporated by applying individual beta factors. The beta factors are evaluated annually based on publicly available market data.
Revenue growth \u2013 Revenue growth projections include specific estimates for the next five years and a terminal growth rate that reflects long-term inflation expectations.
The projected average revenue growth in CGU-ENERGY of approximately 12.2% over the next five years primarily reflects an expected normalization of activity levels following a weaker market environment in 2025. The 2025 financial year was characterized by a general slowdown in market activity and delayed contract awards, which resulted in lower revenue levels compared to historical performance. The growth assumptions for the forecast period therefore largely reflect a return to previously achieved revenue levels rather than expansion significantly beyond historical capacity.
The revenue projections are based on concluded contracts, identified opportunities and ongoing tender processes, as well as management\u2019s expectations regarding market development and pricing. The Company operates within solutions related to Battery Energy Storage Systems (BESS), Energy Modules and shore power infrastructure, markets that are supported by strong underlying drivers such as electrification, increasing renewable power integration and investments in grid stability and port decarbonization. These structural market trends are expected to support increased project activity and contract awards over the forecast period.