Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the fourth quarter of 2024 are attached.
Summary:
* The Company recorded revenues of USD 9.7 million, up from USD 1.1 million in the fourth quarter of 2023.
* Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of USD 7.9 million, up from negative USD 1.7 million in the fourth quarter of 2023.
* Free cash decreased with USD 4.1 million during the quarter, to USD 9.1 million.
A pre-recorded presentation will be available over the internet from 20:00 (local time Norway) today. To access the presentation, please go to the Company’s homepage (www.emgs.com) and follow the link.
