TGS Announces Q2 2021 Results finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
TGS Q2 2021 Earnings Update
OSLO, Norway (8 July 2021) - Based on preliminary reporting from operating units, TGS management expects net IFRS revenues for the second quarter of 2021 to be approximately USD 65 million, compared to USD 66 million in Q2 2020. Net segment revenues are expected to be approximately USD 54 million, compared to USD 96 million in Q2 2020.
Kristian Johansen, CEO at TGS, commented: “As described in the Q1 2021 report, the market conditions for multi-client seismic data continues to be very challenging, and there are no signs of substantial improvements in the near-term. However, based on dialogue with our largest customers we remain confident that we will ultimately see a recovery of the market. Meanwhile, our asset-light business model, robust balance sheet and strong cash flow enable us to take advantage of strategic opportunities, both in the subsurface data area and in the New Energy Solutions segment.”
TGS Q2 2021 Earnings Update
OSLO, Norway (8 July 2021) - Based on preliminary reporting from operating units, TGS management expects net IFRS revenues for the second quarter of 2021 to be approximately USD 65 million, compared to USD 66 million in Q2 2020. Net segment revenues are expected to be approximately USD 54 million, compared to USD 96 million in Q2 2020.
Kristian Johansen, CEO at TGS, commented: As described in the Q1 2021 report, the market conditions for multi-client seismic data continues to be very challenging, and there are no signs of substantial improvements in the near-term. However, based on dialogue with our largest customers we remain confident that we will ultimately see a recovery of the market. Meanwhile, our asset-light business model, robust balance sheet and strong cash flow enable us to take advantage of strategic opportunities, both in the subsurface data area and in the New Energy Solutions segment.