FY beat, 'massive jump' in backlog boost Viridien shares

Viridien SA

28/02/2025 08:23

** Shares in Viridien VIRI.PA jump 9% as the geophysical services company's FY results beat expectations, with a "massive jump" in backlog

** Viridien reports roughly stable y/y FY revenue at $1.12 bln with adj EBITDA up 14% at $455 mln

** Viridien's core geoscience unit posts a 90% jump in backlog, which sits at $351 mln

** Bernstein flags two positive points - the results beat and the "massive jump" in backlog

** There's little colour from the company on the backlog jump, Bernstein says, but contrasted with the CEO's expectations of only modest revenue growth for the segment in 2025 - "this may suggest future good surprises," the brokerage adds

** These provide many short-term positive signals, Bernstein says, also pointing to Viridien's "increasingly conservative" net cash flow target of about $100 mln

** The stock is sitting at the top of France's wider SBF 120 index .SBF120

 (Reporting by Piotr Lipinski)

 ((piotr.lipinski@tr.com))