EMGS: Second quarter and first half year results 2012
(Thomson Reuters ONE) -
Q2 financial results
* Revenues at USD 57.1 million, up 20% from Q2 2011
* EBITDA of USD 22.4 million, up 35% from Q2 2011
* EBITDA margin of 39%
* Net income of USD 11.4 million
Events in the first half year
* Schlumberger and EMGS signed cooperative agreement
* EM Leader mobilized in Asia Pacific
* New Barents Sea multi-client 3D EM campaign launched
* EMGS awarded USD 4 million contract in Papua New Guinea
* PEMEX contract extension worth USD 39 million signed
* EMGS customer purchased 3D EM multi-client library in Norway for USD 8
million
Subsequent important events
* EMGS awarded USD 7 million contract in Asia
* USD 20 million contract awarded for largest ever 3D EM survey in Asia
"We are pleased to have delivered yet another strong quarter and the best first
half year results in the company's history, driven by our strong operational
performance and high vessel utilization," says Roar Bekker, EMGS chief executive
officer.
The full second quarter report and presentation can be downloaded by clicking on
the links below.
Contact
Roar Bekker, EMGS chief executive officer +47 22 01 14 00
Svein Knudsen, EMGS chief financial officer +47 22 01 14 00
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM)
technology to support oil and gas companies in their search for offshore
hydrocarbons. EMGS supports each stage in the workflow, from survey design and
data acquisition to processing and interpretation. The company's services enable
integration of EM data with seismic and other geophysical and geological
information to give explorationists a clearer and more complete understanding of
the subsurface. This improves exploration efficiency, and reduces risks and the
finding costs per barrel.
EMGS has conducted more than 600 surveys to improve drilling success rates
across the world's mature and frontier offshore basins. The company operates on
a worldwide basis with main offices in Trondheim, Stavanger and Oslo, Norway;
Houston, USA; and Kuala Lumpur, Malaysia.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Second quarter report 2012:
http://hugin.info/137402/R/1635666/525481.pdf
Second quarter presentation 2012:
http://hugin.info/137402/R/1635666/525451.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: EMGS via Thomson Reuters ONE
[HUG#1635666]
Unternehmensinformation / Kurzprofil:
Datum: 23.08.2012 - 08:00 Uhr
Sprache: Deutsch
News-ID 177018
Anzahl Zeichen: 3229
contact information:
Town:
Trondheim
Kategorie:
Business News
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