13 slides from Electromagnetic Geoservices Asa's earnings presentation, Feb 7, 2023
Slide 1: Q4 2022 Results
Q4 2022 RESULTS Oslo, 7th February 2023 Bjørn Petter Lindhom, CEO Anders Eimstad, CFO
Slide 2: Disclaimer
Disclaimer This quarterly presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. Such forward-looking information and statements are based on current expectations, estimates
Slide 3: Q4 2022 operational and financial highlights
Q4 2022 20 Operational highlights for the quarter 15 • Successfully completed proprietary survey for Woodside in 10 Trinidad and Tobago • Atlantic Guardian placed in warm-stack in Norway 5 0 Financial highlights for the quarter Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 • Revenu
Slide 4: Operations and Market
Operations and Market auemegs
Slide 5: 2022 Operational lookback
2022 Operational lookback • 2nd year operating with the new flexible business model • Completed 4 acquisition projects • Multi-Client campaign in Norway • Marine Mineral survey for the Atlab consortium • Multi-Client project in the Orphan Basin offshore newfoundland, Canada • Proprietary acquisition
Slide 6: 2022 Financial lookback
2022 Financial lookback Significant improvement in financial results, and continuing the positive trend in revenue and net income Annual Revenue & Net Income (MUSD) started in 2021 100 80 • Revenue of USD 35.0 million (unaudited). Up from 60 USD 28.9 million (audited) in 2021 • Full year adjusted EB
Slide 7: Multi-Client Library continues to perform
Multi-Client Library continues to perform • >150,000 km2 3D EM data in Norway, Mexico, Brazil, Annual Multi-Client Revenue (MUSD) USA, Canada, Uruguay and Indonesia 35 • Current book value USD 1.5 million 30 • 2022 full year Multi-Client revenue of USD 16.7 million 25 including: 20 • Multi-Client re
Slide 8: Financial review
Financial review auemegs
Slide 9: Fourth quarter 2022 performance: Development in revenues and EBITDA
Fourth quarter 2022 performance I Development in revenues and EBITDA Key financial metrics Quarterly development (USD million) • Revenues Revenues 20 • USD 15.2 million total revenue 15 15 • USD 2.6 million in multi-client revenue 10 7 5 6 7 • USD 11.6 million in contract revenue 5 • USD 1.0 million
Slide 10: Operational costs
Operational costs Quarterly operational cost base* development (USD million) Comments 8 • Operational costs base in Q4 22 of USD 7.0 million 6 • USD 1.8 million higher than Q3 22 2.4 • USD 0.7 million bonus accrued in employee expenses as part of the annual employee bonus programme 4 2.1 • high char
Slide 11: Increase in free cash in Q4 2022
Increase in free cash in Q4 2022 Quarterly free cash development (USD million) Comments • Net increase in free cash of USD 53 thousand to USD 11.4 million • Positive Adjusted EBITDA of USD 8.2 million • Trade receivables increased by USD 4.9 million as compared to the previous quarter • Vessel and o
Slide 12: Q&A
Q&A memgs
Slide 13: Q&A
Q&A Please e-mail questions to: emgs@emgs.com