Earnings Release Q3 2012 Robert Hobbs Kristian K. Johansen Chief Executive Officer Chief Financial Officer
Forward-Looking Statements All statements in this presentation 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…
Q3 2012 Highlights Record high net revenues of 244.8 MUSD, up 53% from Q3 2011 Strong profitability with operating profit for the quarter of 101.3 MUSD, 41% of net revenues, up 66% from Q3 2011 Continued high investment activity with…
Net Revenue Breakdown Q3 2012 Q3 2011 GPS 7% 2D GPS 16% 10% 2D 19% 3D 3D 77% 71% Q3 2012 Q3 2011 Proprietary Proprietary 3% 10% Pre- Pre- funding funding 34% 40% Late sales 57% Late sales 56% 4
Net Revenue Breakdown Q3 2012 Q3 2011 Other 9% Other 15% NSA 28% NSA AMEAP 39% 21% AMEAP 18% Europe Europe 31% 39% 5
Financials Kristian K. Johansen Chief Financial Officer 6
Q3 2012 Income Statement Change USD million, except EPS Q3 2012 Q3 2011 in % Net operating revenues 245 160 53% Cost of goods sold - proprietary and other 1 5 -74% Amortization of multi-client library 44% 106 71 48% Gross margin…
Q3 2012 Cash Flow Statement Change in USD million Q3 2012 Q3 2011 % Received payments 176 101 75% Payments for operational expenses (30) (25) 17% Net gain/(loss) from currency exchange (1) (0.3) 455% Paid taxes (15) (9) 66%…
YTD 2012 Income Statement Change USD million, except EPS 9M 2012 9M 2011 in % Net operating revenues 651 428 52% Cost of goods sold - proprietary and other 2 13 -83% Amortization of multi-client library 42% 268 168 60% Gross…
YTD 2012 Cash Flow Statement Change in USD million 9M 2012 9M 2011 % Received payments 570 435 31% Payments for operational expenses (80) (75) 6% Net gain/(loss) from currency exchange (3) (1) 135% Paid taxes (68) (62) 9%…
Balance Sheet Change in USD million Q3 2012 Q2 2012 % Q4 2011 Assets Cash equivalents 205 222 -8% 336 Financial investments available for sale 4 4 -8% 19 Other current assets 404 341 18% 278 Total current assets 612 567 8% 632…
Investments per Vintage Net Book Value (NBV) in % of original investment (year-end) vs allowed maximum % (year-end) 3% 20700 % 572 600 100 % 500 400 62 % 299 300 258 200 167 152 100 % 132 40 % 100 60 % 25 %…
Net Revenues vs. Net Book Value per Vintage 70% 62% 60% 57% 50% 40% 30% 20% 18% 13% 12% 10% 10% 8% 6% 4% 4% 2% 2% 2% 0% 0% pre-2008 2008 2009 2010 2011 2012 WIP Net revenues Net book value 14
Operational Highlights Robert Hobbs Chief Executive Officer 15
License Round Activity and TGS Positioning Northeast Greenland: Norway: Pre-round for Kanubas 22nd Round bids due 4 December Consortium - bids due 2012 with awards in early summer 15 December 2012 2013 Ordinary Round opens 15 June APA…
Q3 2012 2D Operations Akademik Shatskiy Osprey Explorer Akademik Fersman Sanco Spirit Polar Explorer 18
Current Onshore Surveys United States Canada Firestone 3D - expanded to 658 km2 in liquid rich Neptune South - 218 km2 of 3D data in the Bakken Oil play Utica play Unity North - 130 km2 of 3D data in the Birdbear play of Bucklin…
Australia Continued Expansion Mary Rose 8,800 km2 Acquisition complete April 2012 Mary Rose NE 3,500 km2 Acquisition complete April 2012 Gnaraloo 2,300 km2 Acquisition complete April 2012 Honeycombs 2,500 km2 Acquisition…
Northeast Greenland 2012 activity - NEG12* 3,660 km 2D data in Northeast Greenland 2013 licensing round: Greater than 7,900 km of data inside the Kanumas licensing round area Additional TGS data available in NE Greenland: 10,000…
Eastern Canada Growth Labrador Sea* 22,000 km multi-client 2D survey offshore Newfoundland in the Labrador Sea Newfoundland Flemish Pass* 20,000 km multi-client 2D survey over Northeast Newfoundland Shelf 7,500 km acquired in…
Europe 3D Activity During 2012 Barents Sea: Nordkapp Fault East (NKFE12) -1,403 km2 Finnmark Platform (FP12) -2,483 km2 Northern North Sea: End of the World (EOTW11 and EOTW12 ) - 15,307 km2 Erlend Basin (EB 12) - 3,178 km2…
Northwest Africa Mauritania expansion 11,256 km 2D* Acquisition to complete in December Total data now available 17,395 km 2D* 2,567 km2 3D *In partnership with Dolphin Geophysical 24
Original processing Clari-Fi - Broadband Processing methodology that increases bandwidth and improves imaging May be applied to conventionally acquired pre- or post-stack data Addresses ghost and filtering effects Opportunities…
3D Marine Acquisition Capacity Secured EUR AMEAP NSA Option Vessel Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Ramform Sterling Honeycombs Viking Vision Mary Rose NW Australia Geo Atlantic Mary Rose NE. Gnaraloo Geco Eagle…
EUR 2D Marine Acquisition Capacity Secured AMEAP NSA Option Vessel Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Sanco Spirit Canada Osprey Explorer NBR12 - NW Europe Akademik Shatskiy NSR12 - NW Europe Greenland 12 Colombia…
Summary Record high revenues in Q3 2012 of 244.8 MUSD (up 53% Y/Y) Operating profit of 101.3 MUSD, 41% of net revenues (up 66% Y/Y) Operational investments of 137.8 MUSD backed by prefunding of 72% Strong seismic demand in all key…
TGS Performs in all Cycles ROCE vs. Seismic Peers EBIT Margins vs. Seismic Peers 100% 80% 80% 60% 60% 40% 40% 20% 20% 0% 0% -20% -20% -40% -40% -60% -60% -80% -80% -100% -100% -120% 1998 1999 2000 2001 2002 2003 2004 2005 2006…
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