Electromagnetic Geoservices Asa · OSL:EMGS
Electromagnetic Geoservices Asa — Q4 2024 Earnings Presentation
14 slides from Electromagnetic Geoservices Asa's earnings presentation, Feb 10, 2025
Slide 1: Q4 2024 Results
Q4 2024 RESULTS Oslo, 10th February 2024 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 2024 Operational and financial summary
Q4 2024 Operational summary • Successfully completed acquisition of multi-client campaign in Norway • Started transit towards India Financial summary of the quarter • Revenues of USD 9.7 million • EBITDA of USD 10.0 million • Adjusted EBITDA USD 7.9 million • Available cash of USD 9.1 million as of
Slide 4: Operations and Market
Operations and Market
Slide 5: Summary of 4th Quarter 2024
Summary of 4th Quarter 2024 • Completed the Norwegian Continental Shelf campaign • Revenues from several surveys acquired in the 3rd and 4th quarter recognized • Barents Sea CSEM surveys (PL1076, PL1239,PL1242,PL1243) • Barents Sea OBN survey • North Sea CSEM survey (PL1218) • Contract award in Indi
Slide 6: 2024 summary
2024 summary Quarterly development (USD million) 35 • Annual revenue of USD 24.7 million (unaudited) • Adjusted EBITDA for the year of USD 5.2 million 30 • Net income of USD 2.8 million 25 • Available cash at end of Q4 2024 was USD 9.1 million 20 • Convertible bond loan remains at approximately USD
Slide 7: India
India • The EIA is predicting the worlds oil consumption to increase by 1.2 million barrels per day in 2025, of which India would be responsible for about 25%. • In 2050 India is expected to consume 13.3 million barrels of oil per day, up from current consumption of 5.4 million barrels per day (OPEC
Slide 8: EMGS in India
EMGS in India • EMGS has a long history in India with large acquisition campaign in 2006, 2007 and 2016 • In 2024 we reprocessed most of the legacy 2D and some of the legacy 3D CSEM data and made it available to the industry • In October 2024 EMGS signed contract worth approx. USD 10 million with an
Slide 9: Financial review
Financial review
Slide 10: Fourth quarter 2024 performance: revenues and EBITDA
Fourth quarter 2024 performance I Development in revenues and EBITDA Key financial metrics Quarterly development (USD million) • Revenues Revenues 15 13.8 • USD 9.7 million total revenue • USD 9.2 million in pre-funding 10 9.7 • USD 0.5 million in contract and other revenue 5 1.1 1.1 • Vessel utiliz
Slide 11: Operational costs
Operational costs Quarterly operational cost base* development (USD million) Comments 8 • Operational costs base in Q4 24 of USD 4.7 million 6 • USD 2.3 million lower than Q3 24 • The Atlantic Guardian commenced transit to India in the fourth quarter. USD 1.5 million in transit costs were capitalise
Slide 12: Decrease in free cash in Q4 2024
Decrease in free cash in Q4 2024 Quarterly free cash development (USD million) Comments 30 • Net decrease in free cash of USD 4.1 million to USD 25 9.1 million 10.0 0.8 0.6 • Adjusted EBITDA of USD 10.0 million -0.7 20 • Change in other working capital includes a reduction of other short term liabil
Slide 13: Q&A
Q&A
Slide 14: Q&A
Q&A Please e-mail questions to: emgs@emgs.com
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