EMGS

Full year and fourth quarter results 2012

Highlights in the fourth quarter 2012:

• 2012 Financial results:
• Revenues of USD 200.8 million
• EBITDA of USD 55.9 million
• Net profit of USD 11.9 million
• Q4 Financial results:
• Revenues at USD 45.0 million
• EBITDA of USD 10.1 million
• Net loss of USD 0.7 million
• Petrobras contract extension worth USD 12 million awarded and executed
• USD 7 million contract awarded by Shell in Malaysia 
• Three-year global frame agreement signed with Shell
• Letters of Intent received from two new customers for contracts totalling 10 weeks of data acquisition in Asia

Subsequent important events

• Letter of Award received for contract totalling approximately six months of data acquisition for the BOA Thalassa in Asia

"Although earnings fell short of our expectations for the second half of 2012, we have delivered annual revenue growth of 16% with continued strong margins for the full financial year 2012. We have also made strategically important investments in new technology, product development and a rapidly growing multi-client data library. This provides a good foundation for further growth in 2013 and beyond," said Roar Bekker, CEO of EMGS.

The full report and presentation can be downloaded by clicking on the links below.

Contact
Roar Bekker, EMGS chief executive officer, [phone]
Svein Knudsen, EMGS chief financial officer, [phone]
Chris Guldberg, EMGS Head of PR/IR, [phone] / [phone]

About EMGS
EMGS, the marine EM market leader, uses its proprietary electromagnetic (EM) technology to support oil and gas companies in their search for offshore hydrocarbons. EMGS supports each stage in the workflow, from survey design and data acquisition to processing and interpretation. The company's services enable integration of EM data with seismic and other geophysical and geological information to give explorationists a clearer and more complete understanding of the subsurface. This improves exploration efficiency, and reduces risks and the finding costs per barrel.

EMGS has conducted more than 650 surveys to improve drilling success rates across the world's mature and frontier offshore basins. The company operates on a worldwide basis with main offices in Trondheim, Stavanger and Oslo, Norway; Houston, USA; and Kuala Lumpur, Malaysia. Please visit www.emgs.com for more information.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Fourth quarter presentation
Fourth quarter report

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Source: EMGS via Thomson Reuters ONE

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