May 14, 2025 / NTS GMT
Bjørn Petter Lindhom Electromagnetic Geoservices ASA-Analyst
Welcome to the presentation of EMS's first quarter 2025 results. I'm here with our CFO and I'm starting to get we will present these results. Please take note of our disclaimer. During the quarter, the vessel arrived in India and after successful inward clearance and all formalities in place, it started working on the first of the two proprietary acquisitions in the KG Basin on the east coast of India. Upon completion of this project, we started the mobilization for the 2nd project where the vessel is currently acquiring data.
The revenues for the quarter came in at $10 million. The EBITDA was $2.7 million, and the adjusted EBITDA was $2 million. And finally, the net profit was $0.6 million. The free cash at the end of the quarter fell to $6 million. After the quarter, we announced the establishment of a new business platform for EMGS with the acquisition of the offshore subsea construction vessel, the CMD. We'll talk more about this later in the presentation. We have also secured an extension of our convertible
Q1 2025 Electromagnetic Geoservices ASA Earnings Call Transcript
May 14, 2025
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