| Summary | |||||||
| SPECTRUM GROUP | |||||||
| Quarter | Quarter | 9 months | 9 months | 12 Months | |||
| ended | ended | ended | ended | ended | |||
| 30.09.17 | 30.09.16 | 30.09.17 | 30.09.16 | 31.12.16 | |||
| (USD 1000) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||
| Net operating revenue | 17 014 | 20 447* | 72 741 | 52 273* | 86 852** | ||
| EBIT | (5 827) | (2 478) | (9 153) | (19 097) | (19 048) | ||
| Net Profit / (Loss) | (5 909) | (3 985) | (12 612) | (22 807) | (20 283) | ||
| Cash flow from operating activities | 22 993 | 2 844 | 83 327 | 40 819 | 61 215 | ||
| Investment in Multi-Client library | 13 529 | 8 050 | 72 140 | 43 197 | 50 671 | ||
| Multi-Client library Net book value | 201 648 | 220 393 | 201 648 | 220 393 | 192 721 | ||
| Cash and cash equivalents | 10 670 | 14 882 | 10 670 | 14 882 | 15 827 | ||
* Includes other revenue related to tax credit in Brazil of MUSD 8.7 (*) and MUSD13.1 (**).
Q3 Highlights* Late sales in the quarter of MUSD 7.6 (2016: MUSD 9.7)
* Prefunding on Multi-Client investments in the quarter was MUSD 9.3 (2016: MUSD 1.5), primarily related to the Gabon and Argentina surveys.
* Multi-Client investments were MUSD 13.5 with 69% prefunding rate (2016: MUSD 8.1 with 19% prefunding)
* Operational cash flow in Q3 was MUSD 23.0 (2016: MUSD 2.8)
9 months Highlights
* Late sales YTD of MUSD 25.7 (2016: MUSD 23.0)
* Prefunding on Multi-Client investments was MUSD 46.9 (2016: MUSD 16.2), substantial part related to the Gabon and Argentina surveys.
* Multi-Client investments were MUSD 72.1 with 65% prefunding rate (2016: MUSD 43.2 with 37% prefunding)
* Operational cash flow was MUSD 83.3 (2016: MUSD 40.8)
"Spectrum provides innovative Multi-Client seismic surveys and high quality
seismic imaging services to the global oil and gas industry from offices in the
Norway, 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