TGS Q3 2022 Income Replace

October 10, 2022

TGS ASA

TGS ASA

OSLO, Norway (10 October 2022) – Based mostly on preliminary reporting from working items, TGS administration expects internet revenues for Q3 2022 to be roughly USD 135 million, in comparison with USD 200 million in Q3 2021. Web POC revenues* are anticipated to be roughly USD 119 million, in comparison with USD 61 million in Q3 2021.

Kristian Johansen, CEO at TGS, commented: “With roughly half of revenues made up by late gross sales, the robust underlying growth from the primary half of the yr continued within the third quarter. Moreover, I’m happy to see that money circulate stays strong. The web money place was near USD 200 million on 30 September, regardless of the proceeds for the ION and Prediktor transactions being paid in the course of the quarter.”

TGS will launch its Q3 2022 outcomes at roughly 07:00 CEST on 27 October 2022. CEO Kristian Johansen and CFO Sven Børre Larsen will current the outcomes at CEST 09:00 at Home of Oslo (the auditorium), Ruseløkkveien 34, 0251 Oslo. The presentation is open to the general public and might be adopted reside on the web at www.tgs.com (http://www.tgs.com)
Entry and registration for on-line attendees is on the market by copying and pasting this hyperlink into your browser: https://channel.royalcast.com/landingpage/hegnarmedia/20221027_9/

See also  Kia WNBA MVP A’ja Wilson Leads 2022 All-WNBA First Staff - WNBA.com

The slides from the presentation may also be obtainable in PDF format at each the TGS and Oslo Inventory Trade web sites.

*For the aim of Phase reporting, multiclient revenues dedicated previous to completion of initiatives are acknowledged on a proportion of completion (“POC”) foundation. This differs from IFRS reporting the place revenues dedicated previous to completion are acknowledged when the purchasers obtain entry to the completed knowledge.

Changes between preliminary IFRS and Phase income numbers for Q3 2022:

Preliminary IFRS reported income: USD 135 million
– Income acknowledged from efficiency obligations met throughout Q3 for accomplished initiatives: USD 55 million
+ Income acknowledged underneath POC throughout Q3: USD 39 million
= Preliminary internet phase reported income: USD 119 million

Company abstract     
TGS gives scientific knowledge and intelligence to firms energetic within the power sector. Along with a world, intensive and various power knowledge library, TGS gives specialised companies similar to superior processing and analytics alongside cloud-based knowledge purposes and options. For extra data go to TGS on-line at www.tgs.com.

Ahead Trying Assertion
All statements on this press launch apart from statements of historic reality are forward-looking statements, that are topic to plenty of dangers, uncertainties and assumptions which might be troublesome to foretell, and are based mostly upon assumptions as to future occasions that will not show correct. These components embrace TGS’ reliance on a cyclical trade and principal clients, TGS’ means to proceed to broaden markets for licensing of information, and TGS’ means to accumulate and course of knowledge product at prices commensurate with profitability, in addition to unstable market circumstances, which have been exacerbated by the COVID-19 pandemic. Precise outcomes might differ materially from these anticipated or projected within the forward-looking statements. TGS undertakes no accountability or obligation to replace or alter forward-looking statements for any cause.

For additional data, please contact:
Sven Børre Larsen
CFO
Tel.: +47 90 94 36 73
E-mail: [email protected]