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TGS announces record high quarterly revenues of 298 MUSD and 2015 Guidance at Capital Markets Day

13 January 2015OSE

ASKER, NORWAY (13 January 2015) - TGS is hosting its Capital Markets Day today in Oslo, Norway.  The prepared program begins at 08:30 CET and will include presentations from TGS' senior management team, led by Robert Hobbs (CEO) and Kristian Johansen (CFO).  

In addition, TGS will provide an update on Q4 2014.  The update is as follows:

  • Q4 revenues expected to be approximately 298 MUSD, up 10% from Q4 2013 -Record high quarterly revenues for TGS
  • Expected 2014 full year revenues of approximately 915 MUSD, up 4% from 2013
  • Q4 operational multi-client investments of approximately 124 MUSD to reach full year investments of 460 MUSD
  • Full year guidance achieved
  • Final Q4 results to be reported on 5 February 2015

 

TGS will also announce 2015 full year guidance.  The guidance is as follows:

  • TGS expects multi-client investments of approximately 420 MUSD and additional Capex of 15 MUSD in 2015
  • TGS targets revenues of approximately 750 MUSD for 2015
  • TGS targets an EBIT of approximately 260 MUSD in 2015
  • The Board will propose to the AGM in May a dividend of NOK 8.5 per share

To access TGS' 2015 Capital Markets Day information, click on the links below:

TGS 2015 Capital Markets Day Webcast 
TGS 2015 Capital Markets Day Presentation Slides


TGS will also host a Q&A luncheon with the CEO and CFO in New York City, NY on 15 January 2015 for those unable to attend the event in Oslo. For more information, or to RSVP, please click here.

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).



TGS provides multi-client geoscience data to oil and gas Exploration and Production companies worldwide. In addition to extensive global geophysical and geological data libraries that include multi-client seismic data, magnetic and gravity data, digital well logs, production data and directional surveys, TGS also offers advanced processing and imaging services, interpretation products, permanent reservoir monitoring and data integration solutions.

All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include TGS' reliance on a cyclical industry and principal customers, TGS' ability to continue to expand markets for licensing of data, and TGS' ability to acquire and process data product at costs commensurate with profitability. Actual results may differ materially from those expected or projected in the forward-looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.



Kristian Johansen
Chief Executive Officer
Tel: +1 832-667-4795

Will Ashby
Vice President HR & Communication
Tel: +1 713 860 2184