Targets

Targets

Steady Energy has set the following operative targets:

The signing of Technology Supplier Contracts (TSCs) as follows:

• First TSC signed in 2027–2028;
• TSCs for 4–8 reactors signed in 2027–2030; and
• TSCs for 8–18 reactors signed in 2031–2035.

Other operative targets include

• Commencement of the Pilot Plant testing programme in 2027;
• Obtaining the Decision-in-Principle from the Ministry of Economic Affairs and Employment in 2027–2028 for the first commercial plant;
• Submission of a construction license application in 2028–2029; and
• Commencement of construction of the first commercial plant by 2029–2030.

Steady Energy has set the following long-term financial targets:

• Revenue exceeding EUR 500 million by 2035 and EUR 1,000 million by 2040
• EBIT margin (adjusted for goodwill amortisations under FAS) of 25–30 per cent by 2035 and 35–40 per cent by 2040, with positive EBIT margin development expected to continue after 2040 supported by growing HaaS revenues.

The key assumptions of the long-term financial targets include:

1. Steady Energy Management’s identified pipeline of 70 reactors with potential delivery in 2033–2045 develops materially on target,
2. approximately two thirds of the 70 reactors included in Steady Energy Management’s Scenario identified pipeline are delivered as EPC (Engineering, Procurement and Construction) and approximately one third as HaaS (Heat-as-a-Service), and
3. the targeted revenue to be predominantly from EPC reactor deliveries, with HaaS revenues developing from a minor share towards approximately 50 per cent of revenues by 2045.