TGS announces Q1 2025 results

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[{"type":"image","alt":"TGS ASA","displaySize":"","headline":null,"caption":"TGS ASA","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":157,"url":"https://media.zenfs.com/en/globenewswire.com/f1d867d497b06ff921d74c840db25c77"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/E4jeytOP0.32cR0DWrLjgA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIyMDtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/f1d867d497b06ff921d74c840db25c77","width":300,"height":157}},"lazy":false},{"type":"text","content":"OSLO, Norway (9 May 2025) - TGS today reports interim financial results for Q1 2025.","length":84,"tagName":"p"},{"type":"text","content":"Financial highlights:","length":21,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Strong multi-client performance driven by high interest for data in frontier areas","length":82,"tagName":"p"}]},{"val":[{"type":"text","content":"Multi-client investment of USD 130 million supported by solid pre-commitments from clients","length":90,"tagName":"p"}]},{"val":[{"type":"text","content":"Significant year-over-year improvement in asset utilization secured solid contract revenues","length":91,"tagName":"p"}]},{"val":[{"type":"text","content":"Order inflow of USD 302 million during Q1 2025 – total order backlog of USD 600 million","length":87,"tagName":"p"}]},{"val":[{"type":"text","content":"Strong cash flow reducing net debt to USD 453 million from USD 500 million at the end of 2024","length":93,"tagName":"p"}]},{"val":[{"type":"text","content":"Solid balance sheet allows for stable dividend payment of USD 0.155 per share to be paid in Q2 2025","length":99,"tagName":"p"}]},{"val":[{"type":"text","content":"Guidance for gross operating expenses and capital expenditures lowered to approximately USD 1,000 million and approximately USD 135 million, respectively, in response to increased macro uncertainty","length":197,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":739,"olType":false},{"type":"text","content":"“We are pleased about the strong financial performance in Q1 2025. The multi-client segment significantly exceeded expectations, primarily as a result of strong sales of vintage library data in frontier areas. A sales-to-investment ratio above 2x (pro-forma) over the past four quarters illustrates the attractiveness of the multi-client model and the benefit of ha...

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