reports
EMGS reports second quarter 2025 results
EMGS reports second quarter 2025 results Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the second quarter of 2025 are attached. Summary: * The Company recorded revenues of USD 9.6 million, down from USD 13.8 million in the second quarter of 2024 and down from USD 10.0 million in the first quarter of 2025. * Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of USD 2.1 million, down from USD 7.0 million in the second quarter of 2024.* Free cash decreased with USD 2.5 million during t...
EMGS – Vessel activity and multi-client sales update for the second qu...
EMGS – Vessel activity and multi-client sales update for the second quarter 2025 Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate. At the end of the second quarter 2025 the ...
EMGS: Annual general meeting held
EMGS: Annual general meeting held The annual general meeting (the "AGM") of Electromagnetic Geoservices ASA ("EMGS" or the "Company") was held today, 19 June 2025 at 12:00 CEST. All items on the agenda were resolved in accordance with the board of directors' proposals and the Nomination Committee's recommendations. Following the election of new board members at the annual general meeting, the following persons constitute the Company’s board of directors: - Kenneth Ross (Chairman) - Stig Tore Vangen - Glenn Pettersen - Marianne Engelsen Hals - Sasha Siem The minutes of meeting from ...
EMGS: Notice of Annual General Meeting
EMGS: Notice of Annual General Meeting Notice is hereby given of the annual general meeting of Electromagnetic Geoservices ASA ("EMGS" or the "Company"). The annual general meeting will be held at the Company's offices in Karenslyst Allé 4, 4(th) floor, 0278 Oslo, Norway on 19 June 2025 at 12:00 CEST. The calling notice is attached to this stock exchange notification, and will, together with all appendixes, the Company's annual report for 2024, and the remuneration report for 2024 be published on the Company's webpage ContactAnders Eimstad, Chief Financial Officer, About EMGSEMGS, the m...
EMGS reports first quarter 2025 results
EMGS reports first quarter 2025 results Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the first quarter of 2025 are attached. Summary: * The Company recorded revenues of USD 10.0 million, up from USD 0.2 million in the first quarter of 2024 and up from USD 9.7 million in the fourth quarter of 2024. * Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of USD 2.0 million, up from negative USD 3.8 million in the first quarter of 2024.* Free cash decreased with USD 3.1 million during th...
EMGS: Result of Written Resolution of Bondholders
EMGS: Result of Written Resolution of Bondholders Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 6 May 2025 pertaining to EMGS’ proposal to extend the maturity date for, and amend certain terms of, the Company’s outstanding bond issue Elec ASA 18/25 FRN USD FLOOR STEP C CONV (“EMGS03”). EMGS has today been notified by Nordic Trustee AS, as trustee for EMGS03, that the proposed resolution has been resolved and adopted. The notice from the written bondholders' resolution is attached to this release. ContactAnde...
EMGS: Summons for written resolution in relation to Elec ASA 18/25 FRN...
EMGS: Summons for written resolution in relation to Elec ASA 18/25 FRN USD FLOOR STEP C CONV Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 6 May 2025 regarding the Siem Day transaction, including the information therein regarding a proposed extension of the maturity date for Elec ASA 18/25 FRN USD FLOOR STEP C CONV (“EMGS03”) as well as certain other proposed amendments to the bond terms related to the transaction. Attached hereto is a summons for a written resolution by the bondholders in EMGS03. The propo...
EMGS: Establishes new business platform within Subsea Construction thr...
EMGS: Establishes new business platform within Subsea Construction through vessel acquisition – no equity required Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce a significant step in the Company’s strategic development through the establishment of a new business platform within the offshore subsea construction market. EMGS has entered into a set of agreements for a transaction (the “Transaction”) whereby a newly formed subsidiary of the Company will acquire the OSCV Siem Day (the “Vessel”) from Siem Day II AS (the “Seller”). The Siem Day, built in 2013 by...
EMGS – Annual report for 2024 - ESEF
EMGS – Annual report for 2024 - ESEF Reference is made to the stock exchange notice published by Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 24 April 2025, where EMGS published its audited financial statements and annual report for 2024. As noted by the Company in that stock exchange notification, the European Single Electronic Format (ESEF) 2024 annual report would be published on or about 29 April 2025. The ESEF file is attached to this stock exchange notification and will also be available on . ContactAnders Eimstad, Chief Financial Officer, This informat...
EMGS – Board of directors approves audited financial statements and an...
EMGS – Board of directors approves audited financial statements and annual report for 2024 The board of directors of Electromagnetic Geoservices ASA ("EMGS" or the "Company") has today approved EMGS' 2024 annual financial statements and annual report. There are no material changes to the financial statements compared to the preliminary and unaudited full year results presented by the Company on 10 February 2025. EMGS' annual report for 2024 is enclosed to this stock exchange notification. Based on ongoing dialogue, it is the Company’s understanding that bondholders in the Company’s outst...
EMGS – Vessel activity and multi-client sales update for the first qua...
EMGS – Vessel activity and multi-client sales update for the first quarter 2025 Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate. At the end of the first quarter 2025 the Co...
EMGS: Disclosure of Large Shareholding (Flagging)
EMGS: Disclosure of Large Shareholding (Flagging) On 28 March 2025, Siem Investments S.à r.l., holding 43,327,467 shares in Electromagnetic Geoservices ASA (33.08% of shares and votes), was merged into Momentum S.à r.l. Both entities are wholly owned subsidiaries of Siem Industries S.A. The merger did not result in any change in ultimate control. This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act
EMGS Receives Contract Related to Previously Announced Letter of Award...
EMGS Receives Contract Related to Previously Announced Letter of Award for Survey in India Reference is made to the stock exchange notification published by Electromagnetic Geoservices ASA ("EMGS" or the "Company") on 15 January 2025 wherein EMGS announced that the Company had received a Letter of Award for a CSEM survey in India. The Company is pleased to announce that the final contract has now been signed. Under the signed contract, the final contract value remains approximately USD 10 million, i.e. in accordance with the expectation under the Letter of Award. ContactAnders Eimstad...
EMGS reports fourth quarter 2024 results
EMGS reports fourth quarter 2024 results Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the fourth quarter of 2024 are attached. Summary: * The Company recorded revenues of USD 9.7 million, up from USD 1.1 million in the fourth quarter of 2023. * Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of USD 7.9 million, up from negative USD 1.7 million in the fourth quarter of 2023.* Free cash decreased with USD 4.1 million during the quarter, to USD 9.1 million. A pre-recorded presen...
EMGS receives Letter of Award for Survey in India
EMGS receives Letter of Award for Survey in India Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce that the Company has received a Letter of Award for a CSEM survey in India. The survey is expected to have a contract value of approximately USD 10 million, subject to the issuance of a callout order. The LOA does not include a minimum scope of work. The Atlantic Guardian will commence acquisition following completion of the previously announced survey in India. The Company expects the final contract execution to take place within the next several weeks. ...
EMGS: Vessel activity and multi-client sales update for the fourth qua...
EMGS: Vessel activity and multi-client sales update for the fourth quarter 2024 Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate. At the end of the fourth quarter 2024 the...
EMGS awarded Contract for Survey in India
EMGS awarded Contract for Survey in India Electromagnetic Geoservices ASA ("EMGS" or the "Company") is pleased to announce that the Company has signed a Contract with an undisclosed client for a CSEM survey in India.The survey is expected to have a contract value of approximately USD 10 million, including mobilization fee. The Atlantic Guardian is expected to commence transit from Norway in the fourth quarter of 2024. ContactAnders Eimstad, CFO, This information is published in accordance with the Norwegian Securities Trading Act § 5-12. About EMGSEMGS, the marine EM market leader, use...
EMGS reports third quarter 2024 results
EMGS reports third quarter 2024 results Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the third quarter of 2024 are attached. Summary: * The Company recorded revenues of USD 1.1 million, down from USD 1.6 million in the third quarter of 2023. * Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of negative USD 5.9 million, down from negative USD 0.7 million in the third quarter of 2023. * Free cash increased with USD 7.4 million during the quarter, to USD 13.2 million. A pre-rec...
EMGS – Vessel activity and multi-client sales update for the third qua...
EMGS – Vessel activity and multi-client sales update for the third quarter 2024 Electromagnetic Geoservices ASA (the “Company” or “EMGS”) releases information on vessel activity and multi-client sales during the quarter approximately 4-5 working days after the close of each quarter. The Company defines vessel utilisation as the percentage of the vessel charter period spent on proprietary or multi-client data acquisition. Downtime (technical or maritime), mobilisation, steaming, and some standby activities are not included in the utilisation rate. At the end of the third quarter 2024 the ...
EMGS reports second quarter 2024 results
EMGS reports second quarter 2024 results Electromagnetic Geoservices ASA’s (“EMGS” or the “Company”) financial report and market presentation for the second quarter of 2024 are attached. Summary: * The Company recorded revenues of USD 13.8 million, up from USD 0.2 million in the second quarter of 2023 and up from USD 0.2 million in the first quarter of 2024. * Adjusted EBITDA (including capitalised multi-client expenses and vessel and office lease expenses) of USD 7.0 million, up from negative USD 1.8 million in the second quarter of 2023. * Free cash decreased with USD 2.8 million d...
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