TGS ASA (OTCQX:TGSNF) This autumn 2024 Earnings Convention Name February 20, 2025 3:00 AM ET
Firm Contributors
Bard Stenberg – Vice President-Investor Relations
Kristian Johansen – Chief Government Officer
Sven Børre Larsen – Chief Monetary Officer
Convention Name Contributors
Cristopher Møllerløkken – SpareBank 1
John Olaisen – ABG Sundal Collier
Bard Stenberg
Welcome to TGS This autumn 2024 Presentation. My identify is Bard Stenberg, Vice President, Investor Relations in TGS. At this time’s presentation will probably be given by CEO, Kristian Johansen; and CFO, Sven Børre Larsen.
Earlier than we begin, I wish to give some sensible info. For these of you on the webcast, you’ll be able to kind in questions throughout the presentation, and we’ll handle these after administration’s concluding remarks. I might additionally like to attract your consideration to the forward-looking assertion displaying on the display screen and obtainable in in the present day’s earnings launch and presentation.
So with that, I give the phrase to you, Kristian.
Kristian Johansen
Thanks, Bard, and welcome to the presentation. So earlier than I begin on the primary slide, in order that TGS-PGS merger accomplished on July 1st final yr, so all monetary numbers on this presentation are based mostly on professional forma numbers, until said in any other case. Monetary numbers are additionally based mostly on POC, or proportion of completion, for ongoing multi-client tasks, until in any other case said.
So with that, I’ll hit the highlights of This autumn. So we had whole revenues of $492 million within the quarter. That is up by about 19% from $414 million in This autumn of 2023. Our EBITDA for the quarter was $267 million, and that compares to $243 million in This autumn of 2023. We had an EBIT of $92 million that compares to $47 million in This autumn of 2023, so just about a doubling of our EBIT and an EBIT margin of about 19%. We additionally efficiently accomplished a stability sheet refinancing of the prevailing PGS debt at very engaging phrases. And as you
