Electromagnetic Geoservices Asa · OSL:EMGS
Electromagnetic Geoservices Asa — Q2 2021 Earnings Presentation
14 slides from Electromagnetic Geoservices Asa's earnings presentation, Aug 19, 2021
Slide 1: Q2 2021 Results
Q2 2021 RESULTS Oslo, 19th August 2021 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: Q2 2021 Operational and financial highlights
Q2 2021 Operational highlights • Completed fully prefunded multi-client survey in Mexico • Completed mobilisation to Southeast Asia for a proprietary survey Financial highlights • Revenues of USD 9.4 million • EBITDA of USD 7.0 million • Adjusted EBITDA of USD 4.6 million Subsequent events • Partial
Slide 4: Operations, Market and Outlook
Operations, Market and Outlook
Slide 5: Operational Update
Operational Update • Fully prefunded Mexico multi-client project completed • Approximately 5 weeks on survey location 3D surveys 2D surveys • Record-low technical and weather-related downtime • USD 7.2 million revenue recognized in 2nd Quarter • Proprietary Southeast Asia project completed in August
Slide 6: Multi-Client Library
Multi-Client Library • EMGS global multi-client library Annual Multi-Client Revenue (kUSD) • > 100 000 km2 3D CSEM data, predominantly in $70,000 Norway, Mexico, Brazil, USA, Canada, Uruguay and $60,000 Indonesia • Current book value < USD 1.5 million $50,000 • EMGS will continue to invest in financ
Slide 7: Building a stronger company during the energy transition
Building a stronger company during the energy transition • Servicing the Oil & Gas industry to remain the cornerstone of EMGS’ business for many years to come • The importance of efficient hydrocarbon exploration and exploitation will increase as the energy transition progresses • Main business is i
Slide 8: Building a stronger company during the energy transition
Building a stronger company during the energy transition • Carbon Capture Utilization and Storage (CCUS) industry is growing fast to help decarbonize hydrocarbon production and consumption • CSEM can be utilized to monitor the distribution of CO2 in the reservoir over time • Marine minerals are need
Slide 9: Financial review
awemegs Spot the difference.
Slide 10: Second quarter 2021 performance: development in revenues and EBITDA
Second quarter 2021 performance I Development in revenues and EBITDA Key financial metrics Quarterly development (USD million) • Revenues Revenues 9 10 • USD 9.4 million total revenue 8 8 6 • USD 8.0 million in multi-client revenue 4 4 2 • Vessel utilisation of 31% 2 2 0 • Atlantic Guardian complete
Slide 11: Operational costs
Operational costs Quarterly operational cost base* development (USD million) Comments 10 • Operational costs base in Q2 21 of USD 4.9 million 4.8 • USD 1.8 million higher than Q1 21 • Other operational expenses and employee expenses remain low 5 • Increased vessel and office lease expense as a resul
Slide 12: Increase in free cash in Q2 2021
Increase in free cash in Q2 2021 Quarterly free cash development (USD million) Comments • Net increase in free cash of USD 1.1 million to USD 13.2 million • Positive change in cash a result of USD 7.0 million EBITDA, with an adjusted EBITDA of USD 4.6 million • USD 0.5 million in interest payments o
Slide 13: Summary
awemegs Spot the difference.
Slide 14: Q&A
Q&A Please e-mail questions to: emgs@emgs.com
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