In addition to our extensive global geophysical and geological data libraries, we also offer advanced processing and imaging services, interpretation products, and robust data-application integration. Access the industry’s largest volume of geoscience data through TGS’ cloud-based web portal, R360.R360 Login
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ASKER, NORWAY (26 October 2017) - TGS reported net revenues of USD 142 million in Q3 2017, up 25% from Q3 2016. Operating profit for the quarter was USD 26 million, up from USD 11 million in Q3 2016. Cash flow from operations was USD 86 million resulting in a cash balance of USD 205 million in addition to an undrawn credit facility of USD 75 million. Quarterly dividend will be maintained at USD 0.15 per share.
3rd Quarter Highlights
*New multi-client investments excluding investments related to surveys with risk sharing arrangements
"We are pleased with our third quarter results, including revenue growth of 25% from last year and continued strong profitability. Our strong balance sheet allows us to continue to invest in profitable projects and we acquired record high data volumes in Q3. At the same time, we are continuing to pay a quarterly dividend to our shareholders. With a solid financial position combined with a diversified data library, TGS is uniquely positioned to enhance its status as the world's leading multi-client geophysical company," TGS' CEO Kristian Johansen stated.
To access TGS Q3 2017 results information, please use the web links below:
Q3 2017 Presentation and Webcast
Kristian Johansen (CEO) and Sven Børre Larsen (CFO) will present the results at 9.00 am CEST at the Hotel Continental (Teatersalen) in Oslo, Norway. The presentation is open to the public and can be followed live on the internet at www.tgs.com or directly from the webcast.
The slides from the presentation will also be available in PDF format at both the TGS and Oslo Stock Exchange websites.
Q3 2017 Conference Call
CEO Kristian Johansen and CFO Sven Børre Larsen will host a conference call on 26 October 2017 at 2.30 pm CEST (8.30 pm EDT). Attendees may want to call 5-10 minutes before to ensure registration and access.
Participants will need to quote the following confirmation code when dialing into the conference: 2899853.
A Q&A session will follow a short introduction, based upon the presentation issued in the morning. To pose a question, please press *1.
A replay of the conference call will be available shortly after. To access replay of the TGS conference call dial:
A replay of the conference call will also be available at www.tgs.com.