Brief: PGS Q4 EBITDA Down At $126.7 Mln

PGS ASA

15/02/2024 06:14

Feb 15 (Reuters) - PGS ASA  PGS.OL :
    * PRODUCED EBITDA OF $126.7 MILLION, COMPARED TO $145.2
MILLION IN
Q4 2022
    * PRODUCED EBIT (EX. IMPAIRMENTS AND OTHER CHARGES, NET) OF
$33.3
MILLION, COMPARED TO $57.7 MILLION IN Q4 2022
    * 2023 REVENUES DECLINED COMPARED TO 2022 OWING TO
UNEXPECTED
SCHEDULING AND OPERATIONAL CHALLENGES, AND LOWER THAN EXPECTED
MULTICLIENT LATE SALES
    * CAPITAL EXPENDITURES FOR 2024 IS EXPECTED TO BE
APPROXIMATELY
$125 MILLION, INCLUDING CAPEX TO EXPAND OFFSHORE WIND ACTIVITIES
AND SOME 2023 STREAMER CAPEX DELAYED INTO 2024
    * OFFSHORE ENERGY INVESTMENTS ARE EXPECTED TO CONTINUE TO
INCREASE
IN 2024
    * EXPECTS GROSS CASH COSTS IN 2024 TO BE CONSISTENT WITH RUN
RATE
REPORTED FOR Q4 2023
    * Q4 CASH FLOW FROM OPERATIONS OF $115.8 MILLION, COMPARED
TO
$86.4 MILLION IN Q4 2022
    * ORDER BOOK AMOUNTED TO $366 MILLION DEC 31, 2023. ON SEPT
30,
2023, AND DEC 31, 2022, ORDER BOOK WAS $437  MILLION AND $416
MILLION, RESPECTIVELY

Source text for Eikon:  ID:nGNE8PnSqP 
Further company coverage:  PGS.OL 

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