Q1 2024 TGS ASA Earnings Call Transcript
Good morning, everyone, and welcome to TGS Q1 2024 earnings release. My name is Kristian Johansen, I'm the CEO of TGS and with me today, I have Sven Borre Larsen who is going to go through the financial section of the presentation and who is our CFO. I want to start referring to the forward-looking statements and that you can read after this presentation and then I go straight to the Q1 highlights, and we're very pleased about our Q1.
When you look at the total revenues for the quarter, it may not look as impressive at the first sites were pretty much in line with where we were in Q1 of 2023. When you dig deeper into the numbers, you see that the quality of our earnings is very strong this quarter. As an example of that, we had late sales of $72 million in Q1, that compares to $46 million in Q1 last year. So it's an increase of about 58%.
We had early sales, so early sales of projects that are still in production of $78 million and that's an early sales of 116%. When you compare the early sales revenues to last year, you see that down
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