Tgs Asa S/Adr (TGSGY) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to TGS Q3 2025 presentation. My name is Baris Denberg, Vice President, Investor Relations and Business Intelligence in TGS. Today's presentation will be given by CEO Christian Johansen and CFO Sven-Better Larsen. Before we start, I would like to draw your attention to the questionnaire statement showing on the screen and available in today's earnings release and presentation. For those of you on the webcast, you can start typing in questions during the presentation, and we will address those after management's concluding remarks. So with that, I give the word to you, Christian. Thank you, Bård, and welcome, everyone. So I'll start with the Q3 highlights. And before I go through the numbers, I just want to say I'm very pleased that we have a solid recovery after a very weak Q2. And I want to thank all our employees for pursuing sales opportunities aggressively in a challenging market and at the same time being extremely focused on our cost base, which you will see from the numbers that we have a solid beat on EBITDA and EBIT due to lower cost of the quarter. So starting with the numbers on the top line, we had revenues of $388 million. That's compares to 308 in the second quarter of this year. So sequentially, that's a 26% increase. As I said, our EBITDA was strong at $242 million. That's a 62% profit margin. And again, driven by a very strong cost focus of the organization. We had a Q3 EBIT of $105 million. So it's the first time in several quarters that we're over $100 million in EBITs and that represents a 27% profit margin. We had an order inflow of $436 million, and that takes our total order backlog of $473 million at the end of Q3. Our cash flow was strong and that means that with a free cash flow of 81 million dollars and 30 million do...