Earnings Release Q2 2012 Robert Hobbs Kristian K. Johansen Chief Executive Officer Chief Financial Officer
Forward-Looking o a d oo g Statements State e ts 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…
Q2 2012 Highlights Record high net revenues of 214.8 MUSD, up 58% from Q2 2011 Operating profit for the quarter of 94 94.2 2 MUSD MUSD, 44% of net revenues revenues, up 63% from Q2 2011 Record high investment activity with…
Net Revenue Breakdown Q2 2012 Q2 2011 GPS 9% GPS 12% 2D 21% 2D 45% 3D 43% 3D 70% Q2 2012 Q2 2011 Proprietary Proprietary 3% 8% EP 20% EP 47% LP 50% LP 4 72%
Net Revenue Breakdown Q2 2012 Q2 2011 Other 11% Other 20% NSA NSA 24% 31% AMEAP 28% AMEAP 15% Europe p Europe p 30% 41% 5
Key M&A Facilitates Further Growth Canadian geophysical company founded in 1996 with a head office located in Calgary. Arcis employs over 80 professional and technical personnel who have a broad range of skills skills, expertise and…
Financials Kristian K. Johansen Chief Financial Officer 7
Q2 2012 Income Statement Change USD million million, except EPS Q2 2012 Q2 2011 in % Net operating revenues 215 136 58% Cost of goods sold - proprietary and other 0.4 4 -88% Amortization of multi-client library 43% 89 48 84%…
Q2 2012 Cash Flow Statement Change in USD S million Q2 2012 Q2 2011 % Received payments 208 137 52% Payments for operational expenses (27) (24) 11% Net gain/(loss) from currency exchange (1) 0.3 -427% Paid taxes (36) (19) 89%…
YTD 2012 Income Statement Change USD million, illi exceptt EPS 6M 2012 6M 2011 in % Net operating revenues 406 268 51% Cost of goods sold - proprietary and other 0.9 8 -89% Amortization of multi-client library 41% 163 97 68%…
YTD 2012 Cash Flow Statement Change in USD million illi 6M 2012 6M 2011 % Received payments 395 335 18% Payments for operational expenses (50) (50) 1% Net loss from currency exchange (2) (1) 55% Paid taxes (52) (53) 0%…
Balance Sheet Change in USD million illi Q2 2012 Q1 2012 % Q4 2011 Assets Cash equivalents 222 421 -47% 336 Financial investments available for sale 4 15 -75% 19 Other current assets 341 291 17% 278 Total current assets 567 727…
Investments per Vintage Net Book Value (NBV) in % of original investment (year-end) vs allowed maximum % (year-end) 3% 700 608 600 100 % 500 400 64 % 299 300 258 200 152 132 40 % 100 60 % 27 % 24 % 31 % 7%…
Net Revenues vs. Net Book Value per Vintage 80% 73% 69% 70% 60% 50% 40% 30% 20% 14% 11% 10% 8% 6% 6% 4% 3% 3% 3% 0% 0% pre-2008 2008 2009 2010 2011 WIP Net revenues Net book value 15
Operational Highlights Robert Hobbs Chief Executive Officer 16
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…
Q2 2012 3D Operations Polar Duchess Ohio Crew RamformViking Polarcus Amani Kansas Crew 1 Polarcus Adira Polarcus Samur K Kansas C Crew 2 Atl ti Explorer Atlantic E l Geo Atlantic WAZ Crew Geco Eagle Viking…
Q2 2012 2D Operations Osprey Explorer Akademik Shatskiy Sanco Spirit Artemis Atlantic 19
Finnmark Platform 3D FP12 adds 2,400 km2 of 3D data in the Norwegian Barents Sea Survey designed parallel to the margin of Finnmark Platform The survey covers 5 blocks included by Norway Ministry of Petroleum and Energy in…
Erlend Basin 3D Survey adds 3,210 km2 in the Erlend Basin on the UK Continental Shelf Industrys Ind str s first m multi-client lti client 3D survey in the Erlend Basin Survey covers open blocks offered in the UKCS 27th…
Northern North Sea 3D EOTW12 adds 4,000 km2 of 3D data in the Northern North Sea Survey builds upon the Erlend Basin 3D survey 13 000 km2 of TGS has 13,000 contiguous 3D data in this area 22
Faroe Shetland Basin 3D FSB12 survey adds 2,000 km2 in the high potential Atlantic Margin exploration t d trend Survey is in partnership with PGS and builds upon the FSB11 survey from 2011 23
Constitution Wide Azimuth Complex Patriot - 11,665 km2 Acquisition completed in May 2012 Industrys first Multi-WAZ survey Acquired 90 degrees to original survey and integrated through processing 3 400 km2 Independence 3,400…
Q2 New Onshore US Acquisition Activity Bucklin 3D 710 km2 of 3D data Designed to illuminate the Mississippi Lime Oil Play Located in Ford and Kiowa Counties, Kansas Wellington 3D 790 km2 of 3D data Designed to illuminate the…
Outlook Robert Hobbs Chief Executive Officer 26
Key Drivers for Continued Seismic Outperformance Geographic region Share of Q2 2012 revenues Key drivers for future investments and growth EUR Recent discoveries in mature markets in North Sea triggers EUR increased optimism and…
3D Acquisition Capacity Secured EUR AMEAP NSA Option Vessel Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Viking Vision Mary Rose NW Australia Geo Atlantic Mary Rose NE. Gnaraloo Geco Eagle Angola Option WG Waz Crew Patriot…
2D Acquisition Capacity Secured EUR 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 Option Akademik Fersman…
Summary Record high revenues in Q2 2012 of 214.8 MUSD (up 58% Y/Y) Solid S lid operating ti profit fit off 94 94.2 2 MUSD MUSD, 44% off nett revenues ((up 63% Y/Y) All-time high investments of 161.9 MUSD backed by prefunding of…
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% 60% -60% -80% -80% -100% -100% -120% 1998 1999 2000 2001 2002 2003 2004…
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