Sterkere resultat for PGS

Sterkere resultat for PGS


Seismikk-selskapet avsluttet 2017 med en solid inntektsøkning og mer enn doblet inntektene sammenlignet med 4. kvartal i 2016.

PGS kunne klokke inn en solid inntektsøkning i 4. kvartal 2017 sammenlignet med 4. kvartal 2016. Totalt sett gikk det også bedre med PGS i fjor enn året før. Selskapet forventer også positiv cash-flow i 2018 bla som en følge av innsparelser etter den omfattende reorganiseringen i fjor.
I 2018 forventer selskapet en bedring i markedet, men skriver at det kan ta noe tid, men forventer å ha alle åtte 3D-båter i operasjon som Q2.

«We experienced a strong finish to our MultiClient sales from all regions in Q4, making the full year MultiClient performance an improvement from 2016. Our capitalized MultiClient investments ended at $213.4 million. We achieved a sales-to-investment ratio of close to 2.5 times, continuing on the positive trend from 2016 when the ratio for the year was 2.3 times.

The marine contract market was challenging in 2017 with significant seasonal swings. To address the continued difficult market fundamentals we implemented a centralized, simplified and streamlined organization in Q4, combined with improved flexibility for vessel and imaging capacity.

The reorganization has been executed according to plan and we commenced operating in the new organization from 1 January 2018. We are confident that we will reduce the full year gross cash cost by more than $100 million in 2018, compared to 2017, which together with lower capital expenditure should position us well to achieve our target of delivering positive cash flow after debt service this year.»

Rune Olav Pedersen,
President and Chief Executive Officer