Electromagnetic Geoservices Asa · OSL:EMGS
Electromagnetic Geoservices Asa — Q2 2022 Earnings Presentation
13 slides from Electromagnetic Geoservices Asa's earnings presentation, Aug 18, 2022
Slide 1: Q2 2022 Results
Q2 2022 RESULTS Oslo, 18th August 2022 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: Operational highlights for the quarter
Q2 2022 Operational highlights for the quarter • Successfully completed fully prefunded multi-client survey in the North Sea • Time Charter agreement for the Atlantic Guardian was extended by one year to October 2023 with increased flexibility Financial highlights for the quarter • Revenues of USD 6
Slide 4: Operations, Market and Outlook
Operations, Market and Outlook
Slide 5: Multi-Client update
Multi-Client update • 2022 year to date multi-client revenue as of 17th August approximately USD 16.1 million, consisting Annual Multi-Client Revenue of: 18 • USD 4.9 million late sales, uplifts and Change of Control 16 revenue recognized in Q1 2022 14 • USD 5.4 million prefunding, late sales, uplif
Slide 6: Strong financial position
Strong financial position • Q2 2022 is the 5th consecutive profitable quarter for EMGS 35 • Equity is now positive (USD 1 million) 30 • Free cash at end of Q2 was USD 11.6 million • The convertible Bond loan stands at approximately USD 24.5 25 million 20 • Firm vessel charter extended with 1 year un
Slide 7: Marine Minerals Exploration
Marine Minerals Exploration • EMGS selected as the acquisition provider for the NTNU led Atlab consortium which was formed to study geophysical imaging of geological process • Survey to acquire multi-physics data at the Loki’s Castle and Mohn’s Treasure marine mineral deposits at the Mid-Atlantic Ri
Slide 8: Financial review
Financial review auemegs
Slide 9: Second quarter 2022 performance I Development in revenues and EBITDA
Second quarter 2022 performance I Development in revenues and EBITDA Key financial metrics Quarterly development (USD million) • Revenues Revenues 15 13 • USD 6.9 million total revenue 10 9 • USD 5.4 million in multi-client revenue 7 5 6 5 • Vessel utilisation of 18% 0 • Atlantic Guardian competed t
Slide 10: Operational costs
Operational costs Quarterly operational cost base* development (USD million) Comments • Operational costs base in Q2 22 of USD 4.1 million 5 4.8 • USD 1.6 million higher than Q1 22 0.8 • Other operational expenses and employee expenses remain consistently low 0.3 • Combined Charter hire, fuel and cr
Slide 11: Increase in free cash in Q2 2022
Increase in free cash in Q2 2022 Quarterly free cash development (USD million) Comments • Net increase in free cash of USD 3.4 million to USD 11.6 million • Positive Adjusted EBITDA of USD 2.8 million • Trade receivables decreased by USD 1.0 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
Electromagnetic Geoservices — Q2 2022 Earnings Presentation on 6ix