Who Owns Scana Company?

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Who Really Owns Scana?

Understanding a company's ownership structure is crucial for investors and strategists alike. Scana ASA, a key player in the ocean industries, recently made headlines by resuming dividend payments in 2024 after a long hiatus, sparking interest in its financial health. This signals a potential turning point, making it essential to understand the forces behind its strategic direction and value creation. This analysis dives deep into Scana SWOT Analysis, and the intricate web of ownership that defines Scana's future.

The evolution of Scana Company Ownership, from its founding as Scana Industrier in 1987 to its current status as a public company listed on the Oslo Stock Exchange, reveals a fascinating story. Examining the Scana parent company and its key stakeholders, including major investors and public shareholders, is key to understanding its strategic moves. This exploration will also cover the Scana history, including the board of directors, recent developments, and ownership trends, providing a comprehensive view of this important company. Further investigation will help answer questions like: Who is the current owner of Scana, and what is the relationship between Scana and Dominion Energy?

The story of Scana Company Ownership begins with its establishment as Scana Industrier in 1987. While the exact details of the founders and their initial equity distribution are not readily available, the company's roots extend back to the early 1900s, indicating a long history in industrial activities before its formal incorporation.

Early ownership underwent significant changes, demonstrating the company's evolution. This included acquisitions and transformations in the company's structure. The company's vision has consistently focused on the maritime industry and the energy sector.

The company's industrial heritage predates its official formation, with a history in industrial activities. The parent company's name has changed over time, from Scana Industrier to Incus Investors, and finally to Scana ASA in May 2020. The foundational goal of owning and operating businesses related to equipment and services for the maritime and energy sectors has remained central to the company's purpose.

Early Ownership and Evolution

The evolution of Scana Company Ownership reflects a dynamic history of acquisitions and name changes. The acquisition of the steel works in Björneborg, which became Scana Björneborg AB, by Scana Industrier ASA in 1992, is a key example of early expansion. The company's core focus on the maritime and energy sectors has been consistent throughout its history.

• The company's history includes significant changes in ownership and structure.
• The parent company's name was Scana Industrier, changed to Incus Investors, and then to Scana ASA in May 2020.
• The foundational vision has always been to own and operate businesses related to the supply of equipment and services to the maritime industry and the energy sector.
• For more details on the company's business model, you can read about the Revenue Streams & Business Model of Scana.

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The ownership structure of Scana ASA has seen significant shifts since its listing on the Norwegian Stock Exchange in 1995. As of December 31, 2024, the company's share capital comprised NOK 461,892,898, divided into 461,892,898 shares. This structure reflects a single class of shares, each granting one vote in the general meeting, highlighting the straightforward nature of its corporate governance.

Major stakeholders include private companies, individual insiders, institutional investors, and the general public. Private companies held the largest share at 46.5% as of August 24, 2024, with individual insiders holding 31%, institutions owning 10.9%, and the general public holding 11.6%. A notable shareholder is Orkla ASA, with 9.266% of the equities as of December 11, 2024.

Key events impacting ownership include share capital expansions, such as those in February and September 2024, linked to option exercises. In September 2024, over 9.1 million options were exercised, with over 3.4 million by primary insiders. The acquisition of PSW Group in 2022 also influenced the company's business areas and potentially its ownership through new share issuances. The company's articles of association allow for free share transferability. To understand the company's potential, consider examining the Target Market of Scana.

Ownership Dynamics

Scana's ownership structure is dynamic, with significant holdings by private companies and insiders. This structure is influenced by share capital expansions and acquisitions.

• Private companies hold the largest share.
• Individual insiders have a substantial stake.
• Share capital expansions impact ownership.
• Free transferability of shares contributes to market activity.

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The Board of Directors (BoD) of Scana ASA oversees the company's management and control, defining its objectives, strategy, and risk profile. According to the company's articles of association, the board consists of three to seven members, each serving two-year terms. Scana ASA aims to adhere to the Norwegian Code of Practice for Corporate Governance, clarifying the roles of shareholders, the BoD, and executive officers. As of December 2024, the board included Stig Tore Vangen as Chairman and Silje Christine Agustson as a new member.

Other directors include Dag Schjerven, Sindre Ertvaag, Leif Rosen, Tom Saetremyr, Oyvind Torlen, Kristian Falnes, Margaret Hystad, and Marianne Lie. The board's composition is designed to ensure independence from company management. The company has an audit committee, with Morten Blix (chairperson) and Ida Ianssen Lundh as members, and a nomination committee responsible for preparing the annual general meeting's election of board members and proposing their remuneration. These structures support good corporate governance and accountability.

The voting structure at Scana ASA follows a one-share-one-vote principle, with each share representing one vote at the general meeting. There are no dual-class shares or special voting rights. Decisions at the general meeting typically require a simple majority of votes cast. The general meeting is the highest authority of the company, and shareholders are encouraged to participate. For more information about the company's strategy, consider reading about the Growth Strategy of Scana.

Ownership and Control

Scana ASA's ownership structure emphasizes equal voting rights for all shareholders. This ensures that decisions are made democratically, with each share having equal weight. Understanding Scana Company Ownership is crucial for investors and stakeholders alike.

• One-share-one-vote principle.
• Simple majority voting for most decisions.
• General meeting as the highest authority.
• No special voting rights granted.

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Over the past few years, several significant developments have influenced the ownership profile of Scana ASA. A notable trend involves primary insiders exercising share options, which has led to increases in share capital. For example, in February and September 2024, share capital expansions occurred due to option exercises. In September 2024, 9,166,665 options were exercised, with 3,416,666 by primary insiders, increasing the share capital to NOK 461,559,565. This demonstrates a continued commitment from internal stakeholders.

In 2024, Scana ASA paid dividends to its shareholders for the first time since 2010, signaling improved financial performance. The company's revenue for the full year ended December 31, 2024, was NOK 1,970.1 million, a significant increase from NOK 1,606 million in the previous year, with a net income of NOK 83.3 million. These financial improvements could influence investor confidence and potentially attract new investors.

Leadership changes, such as the appointment of Pål Selvik as CEO in September 2023 and Morten Riiser succeeding Torvald Ulland Reiestad as CFO in March 2025, also reflect evolving dynamics within the company. The company's focus on organic growth and M&A opportunities, as stated in its profile, suggests a dynamic approach to portfolio adjustment and capital employment, which can lead to shifts in ownership over time. The company's vision to accelerate decarbonization in the marine and offshore sector may attract new strategic investors aligned with sustainability goals.

Ownership Trends

Recent developments include insider share option exercises and dividend payments, indicating financial health. The company's revenue increased significantly in 2024. These factors may influence future ownership.

Key Players

Key figures include Pål Selvik, the CEO since September 2023, and Morten Riiser, the CFO since March 2025. These leadership changes can affect the company's strategic direction.

Market Dynamics

Institutional ownership is a notable segment. The company's focus on growth and sustainability may attract new investors. These factors drive shifts in the company's ownership structure.

Future Outlook

The company's low debt ratio provides financial flexibility for future initiatives. Strategic investments in decarbonization could attract new investors. These elements will shape the future.

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