TGS Announces Q1 2024 Results
08 5월 2024 - 2:00PM
TGS Announces Q1 2024 Results
OSLO, Norway (8 May 2024) - TGS today reported
interim financial results for Q1 2024.
The quarter reflected a strong development in multi-client late
sales and high POC early sales rate, resulting in solid
profitability in POC financials.
Financial highlights:
- POC revenues (1) were USD 227 million compared to USD 229
million in Q1 2023
- POC EBITDA of USD 143 million versus USD 119 million in Q1
2023
- POC operating result was USD 40 million compared to USD 25
million in Q1 2023
- Contract inflow of USD 140 million during Q1 2024 compared to
USD 248 million in Q1 2023 – total POC order backlog including
Acquisition of USD 459 million
- Strong development in multi-client late sales, up 58%
year-over-year
- Dividend of USD 0.14 (NOK 1.52) per share to be paid in Q2
2024
- IFRS revenues (1) of USD 152 million versus USD 173 million in
Q1 2023
- IFRS EPS (fully diluted) of USD -0.13 versus USD -0.07 in Q1
2023
“We are pleased to see late sales of completed multi-client data
in Q1 2024 showing good progress both compared to the preceding
quarter and the same quarter of last year. Further, we saw strong
sales of surveys in the work-in-progress phase, supporting the
early sales rate of approximately 116% in the quarter. We continue
to show good operating performance in our OBN business, although
the activity level, as expected, remained seasonally low in Q1
2024. The strong start to the year, combined with a continued tight
global oil market and increasing exploration ambitions among our
customers makes me optimistic for the remainder of the year. With
the PGS merger, which we expect to close on or around 1 July 2024,
TGS will be perfectly positioned to support our customers’
exploration ambitions and capitalize on what we think will be a
multi-year upcycle,” says Kristian Johansen, CEO of TGS.
Management Webcast PresentationCEO Kristian
Johansen and CFO Sven Børre Larsen will present the Q1 2024 results
at 09:00 CET at House of Oslo, Ruseløkkveien 34, Oslo, Norway. The
presentation is open to the public and can be followed live on the
Internet.
Access and registration for online attendees are available by
copying and pasting this link into your browser:
https://channel.royalcast.com/landingpage/hegnarmedia/20240508_16/
A recorded version of the entire presentation will be available
on TGS.com(http://www.tgs.com) after the live event.
For more information, visit TGS.com (http://www.tgs.com) or
contact:
Sven Børre LarsenCFOTel: +47 90 94 36 73E-mail:
investor@tgs.com
Notes1 - Percentage-of-completion (POC)
revenue:PoC revenue are measured by applying the
percentage-of-completion method to Early sales, added to Late sales
and Proprietary sales. This is based on the principles applied
prior to the implementation of IFRS 15, Revenue from Customer
Contracts, on 1 January 2018.
Adjustments between IFRS and POC revenue numbers for Q1
2024:
IFRS reported revenue: USD 152 million- Revenue recognized from
performance obligations met during Q1 2024 for completed projects:
USD 3 million+ Revenue recognized under POC during Q1 2024: USD 78
million= POC reported revenue: USD 227 million
Adjustments between IFRS and POC revenue numbers for Q1
2023:
IFRS reported revenue: USD 173 million- Revenue recognized from
performance obligations met during Q1 2023 for completed projects:
USD 42 million+ Revenue recognized under POC during Q1 2023: USD 98
million= POC reported revenue: USD 229 million
Company SummaryTGS provides scientific data and
intelligence to companies active in the energy sector. In addition
to a global, extensive and diverse energy data library, TGS offers
specialized services such as Ocean Bottom Node (OBN) data
acquisition, advanced processing and analytics alongside
cloud-based data applications and solutions. For more information,
visit TGS online at www.tgs.com.
Forward Looking StatementAll statements in this
press release other than statements of historical fact are
forward-looking statements, which are subject to a number of risks,
uncertainties and assumptions that are difficult to predict and are
based upon assumptions as to future events that may not prove
accurate. These factors include volatile market conditions,
investment opportunities in new and existing markets, demand for
licensing of data within the energy industry, operational
challenges, and reliance on a cyclical industry and principal
customers. Actual results may differ materially from those expected
or projected in the forward-looking statements. TGS undertakes no
responsibility or obligation to update or alter forward-looking
statements for any reason.
- TGS Q1 2024 Earnings Release
- TGS Q1 2024 Results Presentation
TGS ASA (TG:TGC)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
TGS ASA (TG:TGC)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024