Tgs Asa S/Adr (TGSGY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to TGS Q4 2025 presentation. My name is Barns Lemberg, Vice President of 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 give some practical information. For those of you present in the room with us today, please use the microphones provided when asking questions. For those of you on the webcast, you can type in the questions on the platform and we will address those. after management's concluding remarks i would also also like to draw your attention to the cautionary statement showing on the screen and available in today's presentation and earnings release so that is my pleasure to give the work to you christian thank you board and welcome everyone so i will start with the highlights for q4 of 2025 so we had um Revenues of $363 million. Our revenues in Q4 were driven by strong multi-client performance, which is quite common for any given Q4. But I think we were particularly pleased about this year because it was a quite volatile market in terms of it sliding all price during the quarter. But we still managed a very strong multi-client performance, which I will come back to. We had an EBITDA of $227 million. That corresponds to a 63% margin. And again, this is thanks to a very strong focus on cost, which again has preserved our margins in the quarter. Our Q4 EBIT was $72 million. That corresponds to a 20% EBIT margin. I'm particularly pleased about our order inflow for the quarter. So we have $598 million of new orders signed. And this is the strongest order inflow since pre-COVID. And that means that we have a total order backlog of about $706 million entering into 2026. We had a net cash flow of $206 million, and th...