TGS Capital Markets Day Highlights and Presentation Material
29 Agosto 2024 - 12:00AM
UK Regulatory
TGS Capital Markets Day Highlights and Presentation Material
Norway (29 August 2024) - TGS is adapting to a changing energy
market and the company now has a fully integrated offering across
the energy data value chain. The multi-client library has
unparalleled data coverage across mature, emerging and frontier
basins worldwide. Leading data acquisition capabilities with eight
fully equipped high-quality GeoStreamer vessels. Advanced OBN
technology with leading operational track record. Scalable imaging
capabilities for streamer and nodes with on-prem and in the cloud
compute capacity. A strong position in the offshore wind site
characterization market and well positioned for extensive growth in
the carbon storage and solar markets.
In the Capital Markets Day presentation, TGS announces:
- The Company’s strategic priorities of Value, Resilience and
Knowledge.
- To create more Value TGS intends to enhance the company’s
leading position in key basins, capitalize on the integrated
structure to build strategic relationships with clients and
governments, and become the clients' preferred Imaging
partner.
- TGS is building Resilience by strengthening diversification
into new energy markets, sets new standards for HSE and maintains a
strong balance sheet, cost efficiency and scalability.
- TGS is accelerating Knowledge by technology development across
the value chain, extracting incremental information from AI
applications, and being the preferred employer in the energy data
industry.
- Integration synergies are increased from original target of USD
90-110 million to USD 110-130 million.
- Capital allocation priorities include disciplined organic
investments, maintaining a strong balance sheet and aiming at net
interest-bearing debt in the range of USD 250-350 million. TGS has
an ambition of growing distribution to shareholders by maintaining
a healthy dividend and plans for additional distribution through
share buybacks while keeping net debt within the indicated
range.
- TGS's future reporting structure will focus on produced (POC)
in segment reporting. Multi-client, Contract, Imaging and New
Energy Solutions (NES) will be the segments reported on.
- TGS's updated 2024 guidance is multi-client investments in the
range of USD 450-500 million, in line with previous guidance from
TGS and PGS after aligning accounting principles.
"By adapting to the evolving energy data market trends, TGS has
established a strong strategic position. With leading-edge
technology and acquisition solutions spanning the entire energy
data value chain, we offer a comprehensive range of insights to
help our clients make better decisions. We have a strong foundation
to grow our revenues and improve our cash flow by successfully
executing our strategic priorities of Value, Knowledge and
Resilience," says Kristian Johansen, CEO of TGS. "I'm excited about
the TGS-PGS merger and the ongoing integration process, which is
progressing according to plan. Already by the end of this year, we
expect a synergy run rate of approximately USD 60 million, and we
have increased our total synergy target from USD 90-110 million to
USD 110-130 million by the end of 2025.”
The Capital Markets Day presentation starts at 14:00 CEST and
takes place at House of Oslo Conference Center, Ruseløkkveien 34,
Oslo, Norway,
After management’s concluding remarks at approximately 16:00
CEST, we invite attendees to join us for refreshments at House of
Oslo conference center.
Please register your physical attendance by emailing
investor@tgs.com, or view a live webcast by copying and pasting the
link below into your browser, a replay will be available shortly
after:
https://channel.royalcast.com/landingpage/hegnarmedia/20240829_11/
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
www.tgs.com (https://www.tgs.com/).
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.
For more information, visit TGS.com or contact:
Bård Stenberg
IR & Communication
Mobile: 992 42 235
investor@tgs.com
TGS ASA (TG:TGC)
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De Oct 2024 a Oct 2024
TGS ASA (TG:TGC)
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