Q2 2023 TGS ASA Earnings Call Transcript
Good morning, and welcome to the presentation of our Q2, 2023 Results. My name is Kristian Johansen. I'm the CEO of TGS. And with me today, I have Sven Borre Larsen, our CFO. Let me first take you through the forward-looking statements that you can read after the presentation. And then on my first slide, I have the financial highlights for the quarter.
We start with POC revenues of $241 million compared to $135 million in Q2 of 2022. And this is obviously partly driven by the acquisition of Magseis that we completed in January 2023. We had late sales of $63 million in Q2, and that compares to $97 million in Q2 of 2022. But as you remember, we had significant transfer fees in that quarter. So, if you adjust for that, our year-on-year growth is still double-digit for Q2 this year. And if you compare that to Q1, which was a rather disappointing quarter on late sales, our growth quarter-by-quarter is about 37%. We had POC early sales of $66 million. That's about twice of what we had in Q2 of last year and then we had proprietary revenues of $113 million, where
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