Electromagnetic Geoservices Asa · OSL:EMGS
Electromagnetic Geoservices Asa — Q3 2022 Earnings Presentation
15 slides from Electromagnetic Geoservices Asa's earnings presentation, Nov 8, 2022
Slide 1: Q3 2022 Results
Q3 2022 RESULTS Oslo, 8th November 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
Q3 2022 Operational highlights for the quarter • Successfully completed seabed mineral survey in the Mid-Atlantic Ridge with newly launched deep-towed receiver system for the ATLAB consortium • Completed multi-client survey in East Canada • Started transit toward Trinidad and Tobago for a proprietar
Slide 4: Operations, Market and Outlook
Operations, Market and Outlook
Slide 5: Seabed Minerals Exploration
Seabed Minerals Exploration • The Norwegian Petroleum Directorate (NPD) has initiated an impact assessment for mineral activity on the Norwegian continental shelf • EMGS well positioned to be a leading service provider in the seabed minerals exploration industry, both in Norway and globally • EMGS w
Slide 6: A first of its kind multi-physics acquisition
A first of its kind multi-physics acquisition Combining EM + Seismic + Acoustic + Environmental
Slide 7: Multi-Client Project offshore Canada
Multi-Client Project offshore Canada • Fully prefunded multi-client project in the Orphan Basin offshore Newfoundland • Project completed on time on the way from EMGS Canada experience Norway to Trinidad and Tobago • The revenue was USD 2 million and will be recognized in Q4 • EMGS has a long histor
Slide 8: Trinidad & Tobago EM survey
Trinidad & Tobago EM survey • First EM survey offshore Trinidad and Tobago • Geology offshore Trinidad well suited for CSEM • Main geological risk is often related to low hydrocarbon saturation, which CSEM can de-risk • Woodside survey details: • Survey vessel: Atlantic Guardian • Area/Block: Woodsi
Slide 9: Strong financial position
Strong financial position 14 12 10 • Q3 2022 is the 6th consecutive profitable quarter for EMGS 8 6 • Net income of 0.8 million 4 • Equity continues to improve (now USD 1.7 million) 2 0 • Free cash at end of Q3 was USD 11.4 million, not including -2 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3
Slide 10: Financial review
Financial review auemegs
Slide 11: Third quarter 2022 performance I Development in revenues and EBITDA
Third quarter 2022 performance I Development in revenues and EBITDA Key financial metrics Quarterly development (USD million) • Revenues Revenues 15 13 • USD 6.6 million total revenue 10 • USD 3.8 million in multi-client revenue 7 7 5 6 • USD 1.6 million in contract revenue 5 • USD 1.2 million other
Slide 12: Operational costs
Operational costs Quarterly operational cost base* development (USD million) Comments • Operational costs base in Q3 22 of USD 5.2 million 5 0.4 • USD 1.1 million higher than Q2 22 1.3 • Other operational expenses and employee expenses remain consistently low 2.0 • Combined Charter hire, fuel and cr
Slide 13: Decrease in free cash in Q3 2022
Decrease in free cash in Q3 2022 Quarterly free cash development (USD million) Comments • Net decrease in free cash of USD 0.2 million to USD 11.4 million • Positive Adjusted EBITDA of USD 1.4 million • Multi-client investment of USD 0.4 million • Trade receivables decreased by USD 0.5 million as co
Slide 14: Q&A
Q&A memgs
Slide 15: Q&A
Q&A Please e-mail questions to: emgs@emgs.com
Electromagnetic Geoservices — Q3 2022 Earnings Presentation on 6ix