Summary Q12019 (segment using APMs)
| SPECTRUM GROUP | |||||
| Quarter | Quarter | 12 months | |||
| ended | ended | ended | |||
| 31.03.19 | 31.03.18 | 31.12.18 | |||
| (USD 1000) | (Unaudited) | (Unaudited) | (Audited) | ||
| Net Segment Revenue | 46 556 | 26 911 | 133 754 | ||
| Segment EBIT | 12 191 | (669) | 30 612 | ||
| Segment Profit / (Loss) | 7 405 | (113) | 17 180 | ||
| Cash flow from operating activities | 43 204 | 28 619 | 74 083 | ||
| Investment in Multi-Client library | 28 415 | 22 236 | 52 516 | ||
| Segment Multi-Client Library net book value | 161 386 | 173 603 | 156 693 | ||
| Cash and cash equivalents | 39 015 | 20 123 | 37 730 | ||
Q1 Highlights:
- Late sales in the quarter of MUSD 31.9 (2018: MUSD 13.1)
- Segment early sale on Multi-Client investments in the quarter was MUSD 14.7 (2018: MUSD 13.7), primarily related to Brazil surveys
- Multi-Client investments were MUSD 28.4 with 52% prefunding rate (2018: MUSD 22.2 with 62% prefunding)
- Gross Multi-Client investments were MUSD 33.8 (2018: MUSD 51.2)
- Operational cash flow in Q1 was MUSD 43.2 (2018: MUSD 28.6)
For further information, please contact:
Rune Eng, CEO Email: rune.eng@spectrumgeo.com (mailto:rune.eng@spectrumgeo.com) Cell: +47 915 70845
Dean Zuzic; CFO Email: dean.zuzic@spectrumgeo.com (mailto:dean.zuzic@spectrumgeo.com) Cell: +47 414 33560
"Spectrum provides innovative Multi-Client seismic surveys and seismic imaging services to the global oil and gas industry from offices in Norway, the UK, USA, Brazil, Egypt, Australia, Indonesia and Singapore. Spectrum designs, acquires and processes seismic data to deliver high quality solutions through its dedicated and experienced workforce. Spectrum holds the world's largest library of Multi-Client 2D marine seismic data and a significant amount of 3D seismic. The company's strategy focuses on both the major, established hydrocarbon producing regions of the world as well as key frontier areas identified by our experienced team of geoscientists. The Spectrum library of Multi-Client data contains projects from many of the foremost oil producing regions of the world. These include new acquisition, reprocessing and interpretation reports".
www.spectrumgeo.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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