Brief: EMGS Q4 Adjusted EBITDA Falls To $0.6 Mln

Voim ASA

04/02/2021 06:36

Feb 4 (Reuters) - Electromagnetic Geoservices ASA  EMGS.OL :
    * REG-EMGS: REPORTS FOURTH QUARTER 2020 RESULTS
    * Q4 REVENUES OF USD 4.0 MILLION, DOWN FROM USD 37.2 MILLION
IN Q4
OF 2019
    * Q4 ADJUSTED EBITDA (INCLUDING CAPITALISED MULTI-CLIENT
EXPENSES
AND VESSEL AND OFFICE LEASE EXPENSES) OF USD 0.6 MILLION, DOWN
FROM USD 20.9 MILLION IN Q4 OF 2019.
    * FREE CASH DECREASED WITH USD 0.1 MILLION DURING Q4, TO USD
4.2
MILLION.
    * SUBSEQUENT TO END OF Q4 2020, EMGS RECEIVED PAYMENT IN
AMOUNT OF
USD 3.9 MILLION RELATED TO SIGNIFICANTLY PAST DUE RECEIVABLES
TOTALLING USD 5.0 MILLION AS OF 31 DECEMBER 2020

Source text for Eikon:  ID:nGNE59sd5S 
Further company coverage:  EMGS.OL 

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