Brief: Axxis Geo Solutions Q2 EBITDA Down At $2.3 Million

Fjord Defence ASA

19/08/2020 06:06

Aug 19 (Reuters) - Axxis Geo Solutions ASA  AXXI.OL :
    * Q2 REVENUE $12.6 MILLION VERSUS $41.0 MILLION YEAR AGO
    * Q2 EBITDA $2.3 MILLION VERSUS $16.8 MILLION YEAR AGO
    * HAS SEEN INCREASED TENDER ACTIVITY FOR Q4 2020/Q1 2021 AND
IS
EXPECTING ADDITIONAL SURVEY OPPORTUNITIES FOR THE COMING NORTH
SEA SEASON
    * PROCESSING OF THE UTSIRA OBN MULTI-CLIENT PROJECT IS
EXPECTED TO
BE COMPLETED AND READY FOR DELIVERY TO CLIENTS DURING Q3
    * COMPANY IS DEPENDENT ON SECURING ADDITIONAL OBN PROJECTS
THIS
YEAR
    * IF CO IS UNSUCCESSFUL IN SECURING ADDITIONAL CONTRACTS,
AGS WILL
BE REQUIRED TO EXPLORE OTHER FINANCIAL SOLUTIONS TO SECURE
LIQUIDITY

Source text for Eikon:  ID:nObic1VD5a 
Further company coverage:  AXXI.OL 

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