Brief: Argeo Q3 Net Loss Widens To NOK 22.3 Mln

Argeo ASA

17/11/2022 07:41

Nov 17 (Reuters) - Argeo AS  ARGEO.OL :
    * WE ARE NOW POSITIONED AND READY FOR SEVERAL LARGE
PROJECTS,
CURRENT PROJECT PIPELINE IN SOUTH AMERICA FOR 2023 IS EXCEEDING
300 MNOK AND A MAJORITY OF THESE PROJECTS ARE CLOSE TO AWARD
    * WE EXPECT TO BE EBITDA POSITIVE IN Q2 OF 2023 AND WE ARE
TARGETING AN EBITDA FOR NEXT YEAR AT 50 MNOK OR HIGHER
    * MARKET OUTLOOK IS STRONG GOING FORWARD, ESPECIALLY WITHIN
OFFSHORE ENERGY
    * DEEP-SEA MINERAL (DSM) MARKET IS SHOWING VERY POSITIVE
DYNAMICS
AND MAY CHALLENGE FOR UTILIZATION FROM 2023 ONWARDS
    * REVENUE FOR Q3 2022 WAS NOK 6.5 MILLION, COMPARED TO NOK
3.4
MILLION IN Q3 2021
    * NET FINANCIAL LOSS FOR Q3 2022 WAS NOK 9.6 MILLION, NET
FINANCIAL LOSS IN Q3 2021 WAS NOK 0.5 MILLION.
    * NET LOSS FOR Q3 2022 WAS NOK 22.3 MILLION COMPARED TO A
NET LOSS
OF NOK 6.4 MILLION IN Q3 2021

Source text for Eikon:  ID:nObijGj2Ka 
Further company coverage:  ARGEO.OL 
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