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Q3 2023 TGS ASA Earnings Call Transcript
Good morning, everyone, and welcome to the Q3 2023 earnings release from TGS. My name is Kristian Johansen. I'm the CEO of TGS. And with me today, we have Sven Borre Larsen, our CFO.
I'll refer you to the forward-looking statements that you can read after the presentation. And then, I'm very pleased to report a Q3 result that is delivering on all parameters, very pleased about our results in all areas.
So if you start on the upper left-hand corner, continued strong early sales momentum. We have a year-on-year growth of 129%. We finally saw late sales recovery in Q3. It's up 11% compared to last year and came in slightly above our own and the market expectations. And we had acquisition delivering its best quarter ever with a year-on-year growth of 27%; so very, very pleased about the development of our OBN business.
DAS is continuing its positive progress with strong growth, so 41% year-on-year. I'm also particularly pleased about the strong operational performance and cost control, which resulted in an EBIT margin of 23% in Q3.
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