Latest news with #TGS
Business Insider
a day ago
- Business
- Business Insider
Kepler Capital Reaffirms Their Sell Rating on TGS (0MSJ)
Kepler Capital analyst Kevin Roger maintained a Sell rating on TGS on July 17 and set a price target of NOK75.00. The company's shares closed last Thursday at NOK76.10. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Roger covers the Energy sector, focusing on stocks such as Subsea 7, Saipem SpA, and TGS. According to TipRanks, Roger has an average return of 15.5% and a 66.81% success rate on recommended stocks. Currently, the analyst consensus on TGS is a Hold with an average price target of NOK100.50. 0MSJ market cap is currently NOK15.44B and has a P/E ratio of 48.53.
Yahoo
2 days ago
- Business
- Yahoo
TGS ASA (TGSGY) Q2 2025 Earnings Call Highlights: Navigating Revenue Challenges with Strategic ...
Total Revenue: $308 million, down from $381 million in Q2 of last year. EBITDA: $153 million, compared to $175 million in the same quarter of last year. EBITDA Margin: Improved from 46% in Q2 of 2024 to 50% this quarter. Free Cash Flow: Positive $11 million before dividend. Multi-Client Revenues: $137 million, down from $191 million in Q2 of last year. Multi-Client Investments: $114 million, up from $92 million last year. Contract Revenues: OBN contract revenues of $88 million, down from $93 million last year; Streamer contract revenues dropped from $128 million to $115 million. Gross Revenues: $203 million, down from $221 million in the same quarter of last year. Net Operating Expenses: $155 million, down from $206 million in the same quarter of last year. Amortization: $109 million, compared to $115 million in the same quarter of last year. Net Depreciation: $65 million. EBIT: Negative $22 million, compared to $8 million positive in the same quarter of last year. Cash Balance: $167 million at the end of the quarter. Dividend: $0.155 per share. Imaging Revenues: $32 million, up from $25 million in the same quarter of last year. External Imaging Revenues: Increased from $10 million to $19 million. Imaging EBITDA Margin: 40%, compared to minus 7% in Q2 of last year. Warning! GuruFocus has detected 4 Warning Signs with TGSGY. Release Date: July 17, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points TGS ASA (TGSGY) reported an improved EBITDA margin of 50% in Q2 2025, up from 46% in the same quarter last year. The company maintained a positive free cash flow of $11 million before dividends. TGS ASA (TGSGY) is continuing business optimization efforts, resulting in lower costs and a reduction in vessel capacity from 7 to 6 vessels. The imaging and technology division had a strong quarter, with gross imaging revenues increasing from $25 million to $32 million year-over-year. The company is maintaining a stable dividend of $0.155 per share, consistent with previous quarters. Negative Points TGS ASA (TGSGY) experienced a decline in total revenues to $308 million, down from $381 million in Q2 of the previous year. Multi-client revenues were below expectations due to low library sales, impacted by a volatile macro environment and a drop in oil prices. Contract revenues were negatively affected by operational challenges in Asia and lower contributions from JV partners. The company reported a negative EBIT of $22 million for the quarter, compared to a positive $8 million in the same quarter last year. Order backlog decreased from $600 million to $425 million, raising concerns about future revenue visibility. Q & A Highlights Q: Can you elaborate on the timing of the vessel sale and the stacking of the Vanguard? A: The sale of the vessels will occur over the next few weeks, with contracts nearly finalized. The Vanguard will be taken out of service after the summer season in Europe. - Kristian Johansen, CEO Q: You are above your net interest-bearing debt target. How does that affect your dividend strategy? A: Our intention is to maintain the current dividend level until we reach our debt target. The weak Q2 results may delay this timeline, but our goal remains unchanged. - Sven Larsen, CFO Q: What's driving the demand decline in the OBN market, and how is it related to oil and gas production? A: The current weakness is more about timing than a permanent market issue. Some projects, like those in Brazil, have been delayed to 2026. We expect demand to grow as OBN costs decrease, making exploration projects more competitive. - Kristian Johansen, CEO Q: Who are you selling the Ramform Explorer and Valiant to, and can you indicate the price? A: We can't disclose the buyer, but the vessels will be used outside the seismic market. The sale price is in the low single-digit millions, aimed at balancing market supply and demand rather than strengthening our balance sheet. - Kristian Johansen, CEO Q: Can you provide an update on the synergy effects of the $110 million to $130 million target? A: We are close to achieving this range, with some integration tasks like systems and software alignment still in progress. Full alignment on ERP systems and HPC in the cloud will take more time. - Sven Larsen, CFO Q: Is it natural to expect a jump in Q3 late sales due to the US Gulf licensing round, and what about transfer fees in the second half? A: While we can't promise higher late sales, there are potential transfer fees, including a sizable one related to the Chevron Hess transaction, which could occur in the second half. - Kristian Johansen, CEO Q: Will you reduce the number of OBN crews, currently at four? A: Not necessarily. We aim to increase efficiency by using source and ROV vessels across multiple projects and exploring new vessel types with fewer human resources. - Kristian Johansen, CEO Q: Regarding partners withdrawing from multi-client JV projects, was it your decision to continue, and what are the expected returns? A: TGS has a history of investing countercyclically. We continue projects in proven successful areas like Brazil and the Gulf of America, expecting similar returns with a sales-to-investment target of 2 times. - Kristian Johansen, CEO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
3 days ago
- Business
- Yahoo
TGS announces Q2 2025 results
Financial highlights: Multi-client revenues impacted by several library data purchases being postponed and low client commitment to ongoing projects Challenging operational conditions for a large contract project and lower than expected JV partner participation for certain multi-client programs negatively affected contract revenues Order inflow of USD 133 million during Q2 2025 – total order backlog of USD 425 million Net cash flow of USD 11 million in Q2 2025, compared to USD -13 million in Q2 2024 Maintaining a stable dividend payment of USD 0.155 per share to be paid in Q3 2025 Gross operating costs for 2025 expected to be approximately USD 950 million compared to previous guidance of approximately USD 1,000 million – reduction driven by further efficiency gains and vessel scheduling 'The Q2 2025 results were negatively impacted by several factors. End-of-quarter data licensing came in below expectations, with several data licensing deals being postponed. Further, we encountered challenging operational conditions on one of our streamer projects, negatively impacting revenue recognition. Finally, lower-than-expected partner participation in certain multi-client projects resulted in lower recognition of contract revenues and higher multi-client investments. The guidance for gross operating expenses has been reduced further, as we continue to review our cost base and optimize asset allocation. We are in the process of selling the Ramform Explorer and the Ramform Valiant, and stacking the Ramform Vanguard. Although significant macroeconomic uncertainty and high oil price volatility during Q2 caused our clients to be more cautious in the short term, the long-term need for more exploration remains intact. With falling remaining reserve life, many large E&P companies will face declining production rates unless more reserves are added and brought on stream. As a result, we remain optimistic for the long-term opportunities for TGS,' says Kristian Johansen, CEO of TGS Management presentation CEO Kristian Johansen and CFO Sven Børre Larsen will present the results today at 09:00 a.m. CEST. The presentation is webcasted live. Access and registration for webcast attendees are available by copying and pasting the link below into your browser, or use the link on the front page of A recorded version of the presentation will be available on ( after the live event. The Q2 2025 earnings release and presentation are available on and For more information, visit ( or contact: Bård Stenberg Vice President IR & Communication Tel: +47 992 45 235 E-mail: investor@ About TGS TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit ( Forward Looking Statement 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 volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. 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. Attachments Q2 2025 Earnings Release Q2 2025 Presentation
TimesLIVE
27-06-2025
- Business
- TimesLIVE
Sierra Leone aims to be West Africa's newest oil and gas exploration frontier
Sierra Leone will wait for the results of a recently-launched offshore 3D seismic survey, its first in over a decade, ahead of potentially opening its next oil and gas licensing round later this year, a senior government official said on Thursday. In partnership with the government's petroleum directorate, consultancy GeoPartners started the six-week seismic survey last month as part of efforts to de-risk exploration in Sierra Leone's offshore basin. "The reprocessing of that data is happening now with our multi-client partners, TGS, and we are hoping to get something to push to the market in October," Foday Mansaray, director-general at the Sierra Leone Petroleum Directorate said of a potential licensing launch date. He said the West African country, where the then Anadarko Petroleum and Russia's Lukoil previously discovered oil but not in commercial quantities, could potentially offer up to 60 offshore blocks in its sixth oil and gas auction round. The previous round concluded in 2023. However, the new blocks are unlikely to include ultra-deep areas that are ordinarily open for direct negotiations, he said.
Canada Standard
27-06-2025
- Politics
- Canada Standard
Green Building Standards Unaffected by Controversial Provincial Legislation, Toronto Says
After Ontario's Bill 17 was fast tracked to royal assent, Toronto city staff say the new legislation won't affect the city's standards for green buildings. The Protect Ontario by Building Faster and Smarter Act was rushed through to approval June 3 without the typical public hearings and standing committee review. It drew opposition for provisions that some organizations said would strip municipalities of their power to enforce green building standards-rules requiring developers to design buildings in ways that conserve water and energy and cut greenhouse gas emissions, for example. Cities like Toronto have relied on the Municipal Act and the City of Toronto Act to support standards like its Toronto Green Standard (TGS). But that authority was based on a "grey area" of the provincial Building Code Act that was "generally interpreted to mean that if a building code requirement actively conflicts with a municipal bylaw, then the building code requirement takes precedence," Bryan Purcell, vice-president of policy and programs at The Atmospheric Fund (TAF), told The Energy Mix in May. Organizations like TAF warned that Bill 17 risked undermining that authority by clarifying the grey area. With the new legislation, the Building Code Act now states that "certain sections of the Municipal Act, 2001 and the City of Toronto Act, 2006 do not authorize a municipality to pass by-laws respecting the construction or demolition of buildings." View our latest digests Alexandra Sanita, a spokesperson for Ontario's municipal affairs and housing minister Rob Flack, said in a statement to The Narwhal that the legislation "standardizes construction requirements and provides consistency, clarifying that no municipality has the authority to enforce a by-law that supersedes the Ontario Building Code." "Through these changes, the City of Toronto's Tier 1 of the Green Building Standard would not be allowed as they mandate requirements for new development planning applications that go beyond the Ontario building code." Tier 1 is a list of mandatory green building requirements. Other tiers, which set incentives but are not mandatory, would still be allowed. But Toronto city staff later released an assessment of the Act's impacts. They determined that "there is no impact to the City's ability to continue to apply the TGS to new development." When asked how the Act's impacts on other legislation, like the Municipal Act , might affect the TGS, the City told The Energy Mix it "cannot provide further comment on the topic at this time" because of legal action against the TGS filed last year. Comments submitted to the legislature by the Canadian Environmental Law Association (CELA) state that the new amendment does not change the legislative powers of the province to set construction standards, and that municipalities can pass by-laws in pursuit of economic, social, and environmental, including for climate change. "Municipal action in pursuit of those listed goals, as long as they do not require specific construction standards, will not conflict or overlap with provincial authority," says CELA. However, CELA criticizes other parts of the Act that limit cities' access to information about new buildings. Source: The Energy Mix
