Link?
Kursen blir herja med igjen. Selskapet er dessverre ikke aggressive nok. Burde ha startet tilbakekjøp allerede.
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Noen skulle ut før helga, stort salgspress de siste 3 dager.
Nå handles TGS veldig etter oljepris, kursene følger hverandre ganske tett, men tror også markedet er litt lei av de usikre meldingene.
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Når blir det refinansering, når det blir det tilbakekjøp, og vil utbytte økes?
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Blir det tilbakekjøp pluss utbytte eller kun tilbakekjøp?
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Hvor raskt får man gjelden i 250-300 musd som de snakker om?
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Tar man i bruk fremførbart underskudd (fra PGS) i Q1 25 eller tidligere?
Så på webcasten i kapitalmarkedsdagen, det virker veldig lovende og fint. Veldrevet selskap med stor optimisme på egen forretningsmodell og sektor. Det er fint det, men markedet ønsker seg nok litt mer tydelighet på hva skjer når. Man investerer gjerne ikke i et selskap som er mye hvis om og dersom osv.
Blir det tilbakekjøp og refinansering i Q4 så ser det helt gull ut. Men det er usikkert, og markedet liker ikke usikkert.
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There were few questione would have been better prepared by management.
Ex.
When are they planning to go ahead with buy back?
How much divident increase?
These were obivous questions, but they were answered like lack researched by management.
Yes i agree, Johansen is obviously charismatic and speaks confidently. But they have been talking for over two years that the super cycle in seismic will come without it having happened. Up until now, there have only been big words. I also think, as I said and you say, the market is a little disappointed that the plans were not more concrete and was pretty vague
Market response was meh to the capital markets day, but I agree with Richardames. If you look at the trades today the stock plummet down after 13:30 which indicates someone dumping their holding. Combined with fall in oil price, a new short and no clear communication by the management regarding buyback & dividend it became a bad cocktail…
Now they really have to deliver in Q3 otherwise we’ll dump down below 100 kr again.
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Yes, i think the market will loose their patience and the stock will decline to about 100 and below, if Q3 does not deliver some results
Technically share trading patter was about to form quad top pattern which is very rar, if broken could have opened nice window to rise. I feel capital market day was very good opportunity for management to boost investors confidence, but I think it’s lost now.
This is simple now, Market doesn’t trust “seismic super cycle” trust no matter how strongly fundamental support this.
Shearwater CEO comments in Q2
Highlights Q2 2024:
Increased activity from Q1 with start-up of North Sea and Canada operations
Revenues of USD 214.2 million compared to USD 237.7 million in Q2 2023
EBITDA of USD 80.1 million compared to USD 65.8 million in Q2 2023
EBIT of USD 45.8 million compared to USD 36.4 million in Q2 2023
Vessel utilisation of 83% (10.0 active vessels), compared to 83% in Q2 2023 (13.8 active vessels)
Successful execution of OBN survey in India confirming the competitiveness of the SW Tasman and Pearl node execution platform
Completion of the second carbon capture survey this year off the coast of the UK
Irene Basili, CEO of Shearwater Geoservices, comments on the second quarter results:
“Activity increased during the second quarter in line with seasonal demand. Although, so far in 2024, the marine seismic acquisition market has been slower than anticipated, we still see a positive development on EBITDA from previous quarter and 2nd quarter last year. A healthy pipeline of potential projects for the upcoming winter indicates increased demand globally, however uncertainty around timing of projects related to permits and internal processes with our clients, could lead to projects which we earlier assumed would come in Q4 to slide into 2025.
Operationally, I would like to highlight the continued activity in our Multi-client business with the commencement of a project in a prosperous area in offshore Brazil, as well as our recently announced technology agreement with Petrobras. This month we also completed the first major OBN survey combining Shearwater’s in-house developed Pearl node and purpose-built ROV vessel SW Tasman. With our one-of-a-kind OBN acquisition platform we are setting new industry standards for operational efficiencies on a survey that was recently extended by the client in India continuing through Q3 and into Q4.
Our long term view of the market remains positive on increased demand for our services. Recent projections by super major ExxonMobil in their “ExxonMobil Global Outlook: our view to 2050”, supports the strong need for more investments, in order to increase oil supply to fend off a projected natural decline of a staggering 15% annually in the period covered by the report.
Our active role as industry consolidator through the cycle has positioned us well to capitalise from increased demand, however with timing of same being the variable most difficult to predict. Pending our clients’ increased spend, we focus on delivering solid operations, optimising utilisation on active fleet, and good results.”
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Massive opportunity to be aggressive, but they ended up being passive. A disappointment indeed.
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But guys if we look at the positive side I think it was a good move to change the financial reporting from Q3. No more focus on late sales and early sales will reduce the volatility. If the POC revenues & order book is looking good then the quarter won’t be overshadowed by low late sales.
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En litt negativ rapport fra Sharewater var nok også en trigger for dette fallet.
Unfortunately, I agree with Molnes on FA that TGS has become a ‘show-me’ stock. The market cannot continue to rely solely on promises; at some point, it will lose hope in them, and that’s what’s happening with TGS.
Another unfortunate aspect for TGS is that management hasn’t done a great job of preserving shareholder value, especially when that value was being destroyed by short sellers.
Ser ingen grunn til at kursen ikke skal snu her. Kursen har god teknisk støtte på dette nivået. Et velplassert innsidekjøp nå er nok til å sette bunnen her tipper jeg.
Fra Sharewater sin rapport: “Pending our Clients increased spending, we focus on delivering solid operations, optimizing utilasation on active fleet, and good result.”
Garantert dette som påvirker TGS negativt.
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Let’s hope it does not break that support 
, otherwise it will be free fall.
Its quite the volume, so dont be suprised if it goes below.
I do not belive it will stay there though.
Agree.
Not enough positive news. 