EMGS : EMGS: Full year and fourth quarter results 2012

            EMGS : EMGS: Full year and fourth quarter results 2012

Highlights in the fourth quarter 2012:

  *2012 Financial results:

       *Revenues of USD 200.8 million
       *EBITDA of USD 55.9 million
       *Net profit of USD 11.9 million

  *Q4 Financial results:

       *Revenues at USD 45.0 million
       *EBITDA of USD 10.1 million
       *Net loss of USD 0.7 million

  *Petrobras contract extension worth USD 12 million awarded and executed
  *USD 7 million contract awarded by Shell in Malaysia
  *Three-year global frame agreement signed with Shell
  *Letters of Intent received from two new customers for contracts totalling
    10 weeks of data acquisition in Asia

Subsequent important events

  *Letter of Award received for contract totalling approximately six months
    of data acquisition for the BOA Thalassa in Asia

"Although earnings fell short of our expectations for the second half of 2012,
we have delivered annual revenue growth of 16% with continued strong margins
for the full financial year 2012. We have also made strategically important
investments in new technology, product development and a rapidly growing
multi-client data library. This provides a good foundation for further growth
in 2013 and beyond," said Roar Bekker, CEO of EMGS.
The full report and presentation can be downloaded by clicking on the links
Roar Bekker, EMGS chief executive officer, +47 22 01 14 00
Svein Knudsen, EMGS chief financial officer, +47 22 01 14 00
Chris Guldberg, EMGS Head of PR/IR, +47 73 56 88 10 / +47 92 81 07 07
About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM)
technology to support oil and gas companies in their search for offshore
hydrocarbons. EMGS supports each stage in the workflow, from survey design and
data acquisition to processing and interpretation. The company's services
enable integration of EM data with seismic and other geophysical and
geological information to give explorationists a clearer and more complete
understanding of the subsurface. This improves exploration efficiency, and
reduces risks and the finding costs per barrel.
EMGS has conducted more than 650 surveys to improve drilling success rates
across the world's mature and frontier offshore basins. The company operates
on a worldwide basis with main offices in Trondheim, Stavanger and Oslo,
Norway; Houston, USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com
for more information.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Fourth quarter presentation
Fourth quarter report


This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.

Source: EMGS via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.