Q3 & 9 MONTHS 2024 RESULTS
Viridien reported Q3 2024 results with revenue of $246M and adjusted EBITDA of $98M. The company's Digital, Data and Energy Transition (DDE) segment showed strong performance in Geoscience with 32% revenue growth and 91% increase in order intake. Earth Data saw weaker after-sales but increased prefunding from the Laconia project. Sensing & Monitoring revenue declined 51% due to absence of mega crew systems. The company maintains its 2024 financial objectives, with revenue expected in line with 2023, positive EBITDA impact from business mix, and Earth Data cash Capex projected at $230-250M.
Viridien ha riportato i risultati del terzo trimestre del 2024 con un fatturato di 246 milioni di dollari e un EBITDA rettificato di 98 milioni di dollari. Il segmento Digital, Data and Energy Transition (DDE) ha mostrato un forte rendimento nella Geoscienza, con una crescita del fatturato del 32% e un aumento del 91% negli ordini ricevuti. Earth Data ha registrato vendite post-vendita più deboli ma un aumento del finanziamento preliminare dal progetto Laconia. Le entrate del segmento Sensing & Monitoring sono diminuite del 51% a causa dell'assenza di sistemi mega crew. L'azienda mantiene i propri obiettivi finanziari per il 2024, con un fatturato previsto in linea con il 2023, un impatto EBITDA positivo dalla mix di attività e una spesa per capitale di Earth Data prevista tra 230 e 250 milioni di dollari.
Viridien reportó resultados del tercer trimestre de 2024 con ingresos de 246 millones de dólares y un EBITDA ajustado de 98 millones de dólares. El segmento Digital, Data and Energy Transition (DDE) mostró un fuerte rendimiento en Geociencia, con un crecimiento de ingresos del 32% y un incremento del 91% en la recepción de pedidos. Earth Data experimentó ventas post-venta más débiles, pero un aumento en la financiación anticipada del proyecto Laconia. Los ingresos de Sensing & Monitoring cayeron un 51% debido a la ausencia de sistemas mega crew. La empresa mantiene sus objetivos financieros para 2024, con ingresos esperados en línea con 2023, un impacto EBITDA positivo del mix de negocios y una proyección de Capex de efectivo para Earth Data de 230 a 250 millones de dólares.
Viridien은 2024년 3분기 실적을 보고하며 매출 2억 4600만 달러, 조정된 EBITDA 9천800만 달러를 기록했습니다. Digital, Data and Energy Transition (DDE) 부문은 지구과학에서 32%의 매출 성장과 91%의 주문 증가로 강력한 성과를 보였습니다. Earth Data는 판매 후 실적이 약세를 보였으나 Laconia 프로젝트에서의 사전 자금 조달이 증가했습니다. Sensing & Monitoring 부문의 매출은 대형 크루 시스템의 부재로 51% 감소했습니다. 회사는 2024년 재무 목표를 유지하며, 매출이 2023년과 일치할 것으로 예상하고, 비즈니스 믹스에서 긍정적인 EBITDA 영향을 예상하며, Earth Data의 현금 자본 지출은 2억 3천만 달러에서 2억 5천만 달러로 예상하고 있습니다.
Viridien a publié ses résultats du troisième trimestre 2024 avec un chiffre d'affaires de 246 millions de dollars et un EBITDA ajusté de 98 millions de dollars. Le segment Digital, Data and Energy Transition (DDE) a montré de solides performances en géoscience avec une croissance des revenus de 32 % et une augmentation de 91 % des commandes. Earth Data a constaté des ventes après-vente plus faibles, mais une augmentation du préfinancement du projet Laconia. Les revenus de Sensing & Monitoring ont chuté de 51 % en raison de l'absence de systèmes mega crew. L'entreprise maintient ses objectifs financiers pour 2024, avec un chiffre d'affaires attendu conforme à 2023, un impact EBITDA positif résultant du mix commercial, et un Capex en espèces pour Earth Data projeté entre 230 et 250 millions de dollars.
Viridien hat die Ergebnisse des dritten Quartals 2024 mit einem Umsatz von 246 Millionen Dollar und einem bereinigten EBITDA von 98 Millionen Dollar berichtet. Das Digital, Data and Energy Transition (DDE) Segment zeigte eine starke Leistung in der Geowissenschaft mit einem Umsatzwachstum von 32 % und einem Anstieg der Bestellungen um 91 %. Earth Data verzeichnete schwächere Nachverkäufe, jedoch eine Erhöhung der Vorfinanzierung aus dem Projekt Laconia. Die Umsätze im Bereich Sensing & Monitoring sanken um 51 % aufgrund des Fehlens von Mega-Crew-Systemen. Das Unternehmen hält an seinen finanziellen Zielen für 2024 fest, mit einem Umsatz, der voraussichtlich im Einklang mit 2023 steht, einem positiven EBITDA-Effekt aus dem Geschäftsmix und einem Cash Capex für Earth Data, das auf 230 bis 250 Millionen Dollar geschätzt wird.
- Geoscience revenue increased 32% with 91% growth in order intake
- Q3 adjusted EBITDA reached $98M
- Positive net cash flow of $10M vs -$15M in 9M 2023
- Successfully implemented $25M of $30M bond buyback program
- Strong liquidity position at $442M including $100M undrawn RCF
- Overall Q3 revenue declined due to Sensing & Monitoring segment down 50%
- Earth Data after-sales decreased 50% to $26M
- $12M penalty fees from vessel commitment impacted profitability
- Net income reported at -$10M for Q3
Insights
The Q3 results present a mixed financial picture. Revenue declined 3% to
The Geoscience segment shows remarkable strength with
The company maintains its full-year guidance, suggesting confidence in its business trajectory despite mixed segment performance. The transformation plan in Sensing & Monitoring aims to improve operational efficiency and cost structure by 2025.
The results reflect the evolving dynamics in the energy services sector. The strong performance in Geoscience, particularly in the Middle East region, indicates growing demand for advanced imaging technologies and high-performance computing solutions. The company's strategic pivot towards new business areas like Carbon Capture (CCUS) and Minerals & Mining shows promising early results.
The Laconia project in the Gulf of Mexico and Norwegian carbon storage initiatives demonstrate the company's successful transition into emerging energy markets. The
Paris (France), October 31st, 2024, 17h45 CET
Q3 & 9 MONTHS 2024 RESULTS
DELIVERING ON CASH GENERATION AND FINANCIAL ROADMAP
ON TRACK TO HIT OUR FULL YEAR TARGET
Q3 | 9M1 | |
Revenue2 | | |
Adjusted EBITDA2 | | |
Net Cash-Flow | | |
Sophie Zurquiyah, Chief Executive Officer of Viridien, said:
“Our results since the start of the year demonstrate the strength of our strategic vision, with technology leadership, new business growth, and cash flow all showing significant progress.
Geoscience was particularly strong this quarter, leveraging its clear differentiation, best-in class imaging technology and HPC computing power to achieve a record high order book. In Earth Data, the Laconia project, using our most advanced technology, saw increased prefunding and is continuing to progress well.
Sensing & Monitoring is actively implementing its adaption plan and is on track to achieve in 2025 the expected outcomes in cost reduction and operational flexibility to improve performance across the industry cycles.
Lastly, we continue to address our financial roadmap with the implementation of the bond buyback program and looking forward, reaffirm our full-year targets”.
Third Quarter Highlights2
- Group2
- IFRS Revenue, EBITDA and Net Income of respectively
$219 million ,$71 million ,$(10) million . - Overall group revenue decline in absence of mega crew in Sensing & Monitoring (SMO, revenue down
50% ) compared to Q3 2023. Stable DDE revenue, with very strong momentum at Geoscience (revenue +32% and order intake +91% ). - Group adjusted EBITDA of
$98M , including -$12M penalty fees from vessel commitment. DDE Adjusted EBITDA of$108 million , up5% thanks to strong Geoscience performance. SMO adjusted EBITDA of$1M (vs$12M ).
- IFRS Revenue, EBITDA and Net Income of respectively
- Net Cash flow of
$10 million , including -$18 million contractual fees from vessel commitment. - Implementation of the bond buy back program.
$25M already bought on the$30M 2024 program as of October 31 (o.w.$12M bought and cancelled as of September 30). - Liquidity at
$442 million (including$100 million undrawn RCF).
- Digital, Data and Energy Transition (DDE)
- Revenue
$187 million , up1% : strong revenue growth at Geoscience offset by lower level of aftersale at Earth Data. - Adjusted EBITDA
$108 million , up5% : profitability impacted by -$12 million in penalty fees from vessel commitments (vs -$20 million during Q3 2003). - Geoscience
- Revenue at
$103 million (+32% ). - Geoscience performance continues to be driven by technology leadership. Order intake (up
91% ) benefits from best in class imaging technology, new UK HPC hub and increased activity in the Middle East. - The new businesses confirm positive momentum, both in CCUS with the release of the latest phase of Gulf of Mexico Carbon Storage Study to support upcoming lease rounds and in Minerals & Mining with the award of a sensing program in Oman, to identify, map and rank mineralization prospectivity potential.
- Revenue at
- Earth Data
- Revenue:
$83 million (-22% ). - Prefunding revenue at
$58 million (+4% ). First contribution of the Laconia project in the Gulf of Mexico. Weaker after-sales in Q3 (down50% at$26 million ) with unfavorable cut offs. - New businesses: revenue from the Norwegian survey for Carbon storage leading to the reprocessing of legacy data in the area.
- Revenue:
- Revenue
- Sensing and Monitoring (SMO)
- Revenue at
$59 million , down51% across land and marine products, following delivery of the “mega crew” systems in 2023. - Adjusted EBITDA at
$1 million (vs$12M ). - Transformation plan on track to achieve the expected cost reduction and operational flexibility.
- New businesses representing
17% of revenue. Delivery of land seismic nodes for large-scale seismic surveys planned in urban areas to target energy resources, including geothermal.
- Revenue at
- 2024 Financial objectives
- The Group reiterates its 2024 financial objectives and confirms its 2024-2025 financial roadmap.
- Revenue expected to be in line with 2023
- EBITDA to be positively impacted by business mix
- Earth Data cash Capex expected at
$230 -250M - Net Cash Flow to reach similar level as 2023
- The Group reiterates its 2024 financial objectives and confirms its 2024-2025 financial roadmap.
- Q3 2024 Conference call
- The press release and the presentation are available on our website www.viridiengroup.com at 5:45 pm (CET)
- An English language analysts conference call is scheduled today at 6.00 pm (CET)
Participants should register for the call here to receive a dial-in number and code or participate in the live webcast from here.
A replay of the conference call will be made available the day after for a period of 12 months in audio format on the Company's website.
The Board of Directors met on October 31, 2024 and approved the consolidated financial statements ending September 30, 2024.
About Viridien:
Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resource, digital, energy transition and infrastructure challenges. Viridien employs around 3,500 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN until July 30: FR0013181864 and ISIN as from July 31: FR001400PVN6).
Contact:
VP Corporate Finance
Jean-Baptiste Roussille
jean-baptiste.roussille@viridiengroup.com
Q3 2024 - Financial Results
CONSOLIDATED FINANCIAL STATEMENTS - September 30th, 2024
Unaudited Interim Consolidated statement of operations – Year-To-Date
Nine months ended September 30, | |||
(In millions of US$, except per share data) | Notes | 2024 | 2023 |
Operating revenues | 784.8 | 810.4 | |
Other income from ordinary activities | 0.1 | 0.2 | |
Total income from ordinary activities | 784.9 | 810.6 | |
Cost of operations | (587.1) | (578.0) | |
Gross profit | 197.8 | 232.6 | |
Research and development expenses - net | (15.2) | (20.5) | |
Marketing and selling expenses | (28.6) | (26.6) | |
General and administrative expenses | (55.9) | (54.2) | |
Other revenues (expenses) - net | 8 | (3.6) | (0.9) |
Operating income (loss) | 94.6 | 130.4 | |
Cost of financial debt - gross | (82.3) | (79.5) | |
Income provided by cash and cash equivalents | 8.7 | 4.0 | |
Cost of financial debt, net | (73.6) | (75.5) | |
Other financial income (loss) | 9 | (0.9) | (1.6) |
Income (loss) before incomes taxes and share of income (loss) from companies accounted for under the equity method | 20.1 | 53.3 | |
Income taxes | (14.2) | (24.6) | |
Net income (loss) before share of income (loss) from companies accounted for under the equity method | 6.0 | 28.7 | |
Net income (loss) from companies accounted for under the equity method | 0.9 | 0.5 | |
Net income (loss) from continuing operations | 6.9 | 29.2 | |
Net income (loss) from discontinued operations | 3 | 14.7 | 2.3 |
Consolidated net income (loss) | 21.6 | 31.5 | |
Attributable to : | |||
Owners of Viridien S.A | $ | 21.2 | 28.0 |
Non-controlling interests | $ | 0.4 | 3.5 |
Net income (loss) per share | |||
Basic | $ | 2.97 | 0.04 |
Diluted | $ | 2.95 | 0.04 |
Net income (loss) from continuing operations per share | |||
Basic | $ | 0.91 | 0.04 |
Diluted | $ | 0.91 | 0.04 |
Net income (loss) from discontinued operations per share (a) | |||
Basic | $ | 2.06 | - |
Diluted | $ | 2.05 | - |
(a) Earning per share is presented as nil being less than US
See the notes to the Unaudited Interim Consolidated Financial Statements
Unaudited Interim Consolidated statement of comprehensive income (loss) – Year-To-Date
Nine months ended September 30, | |||
(In millions of US$) | Notes | 2024 (a) | 2023 (a) |
Net income (loss) from statements of operations | 21.6 | 31.5 | |
Net gain (loss) on cash flow hedges | 0.2 | 0.2 | |
Variation in translation adjustments | 3.3 | 10.5 | |
Net other comprehensive income (loss) to be reclassified in profit (loss) in subsequent period (1) | 3.5 | 10.7 | |
Net gain (loss) on actuarial changes on pension plan | 0.4 | (0.7) | |
Net other comprehensive income (loss) not to be reclassified in profit (loss) in subsequent period (2) | 0.4 | (0.7) | |
Total other comprehensive income (loss) for the period. net of taxes (1) + (2) | 3.9 | 10.0 | |
Total comprehensive income (loss) for the period | 25.5 | 41.5 | |
Attributable to: | - | ||
Owners of Viridien S.A. | 24.7 | 39.2 | |
Non-controlling interests | 0.8 | 2.3 |
(a) Including other comprehensive income related to the discontinued operations.
Unaudited Interim Consolidated statement of financial position
(In millions of US$) | Notes | September 30, 2023 | December 31, 2023 | |
ASSETS | ||||
Cash and cash equivalents | 341.7 | 327.0 | ||
Trade accounts and notes receivable, net | 287.3 | 310.9 | ||
Inventories and work-in-progress, net | 207.1 | 212.9 | ||
Income tax assets | 37.0 | 30.8 | ||
Other current assets, net | 67.4 | 92.1 | ||
Total current assets | 940.5 | 973.7 | ||
Deferred tax assets | 35.5 | 29.9 | ||
Other non-current assets, net | 7.8 | 6.8 | ||
Investments and other financial assets, net | 25.3 | 22.7 | ||
Investments in companies under the equity method | 2.6 | 2.2 | ||
Property, plant and equipment, net | 4 | 230.7 | 206.1 | |
Intangible assets, net | 611.5 | 579.7 | ||
Goodwill, net | 1 098.1 | 1 095.5 | ||
Total non-current assets | 2 011.4 | 1 942.9 | ||
TOTAL ASSETS | 2 951.9 | 2 916.6 | ||
LIABILITIES AND EQUITY | ||||
Financial debt – current portion | 5 | 79.8 | 58.0 | |
Trade accounts and notes payables | 94.1 | 86.4 | ||
Accrued payroll costs | 87.9 | 89.1 | ||
Income taxes payable | 21.2 | 12.5 | ||
Advance billings to customers | 19.1 | 24.0 | ||
Provisions — current portion | 8.1 | 8.7 | ||
Other current financial liabilities | 5.9 | 21.3 | ||
Other current liabilities | 233.6 | 250.3 | ||
Total current liabilities | 549.8 | 550.3 | ||
Deferred tax liabilities | 22.1 | 24.3 | ||
Provisions — non-current portion | 32.8 | 30.1 | ||
Financial debt – non-current portion | 5 | 1 265.1 | 1 242.8 | |
Other non-current financial liabilities | - | 0.5 | ||
Other non-current liabilities | 1.7 | 4.3 | ||
Total non-current liabilities | 1 321.7 | 1 302.0 | ||
Common stock: 11,212,215 shares authorized and 7,161,465 shares with a | 8.7 | 8.7 | ||
Additional paid-in capital | 118.7 | 118.7 | ||
Retained earnings | 1 004.0 | 980.4 | ||
Other Reserves | 19.8 | 27.3 | ||
Treasury shares | (20.1) | (20.1) | ||
Cumulative income and expense recognized directly in equity | (1.2) | (1.4) | ||
Cumulative translation adjustment | (87.9) | (90.8) | ||
Equity attributable to owners of Viridien S.A. | 1 042.0 | 1 022.8 | ||
Non-controlling interests | 38.5 | 41.5 | ||
Total equity | 1 080.5 | 1 064.3 | ||
TOTAL LIABILITIES AND EQUITY | 2 951.9 | 2 916.6 |
See the notes to the Unaudited Interim Consolidated Financial Statements
Unaudited Interim Consolidated statement of cash flows
Nine months ended September 30, | |||
(In millions of US$) | Notes | 2024 | 2023 |
OPERATING ACTIVITIES | |||
Consolidated net income (loss) | 21.6 | 31.5 | |
Less: Net income (loss) from discontinued operations | 3 | (14.7) | (2.3) |
Net income (loss) from continuing operations | 6.9 | 29.2 | |
Depreciation, amortization and impairment | 71.8 | 63.3 | |
Earth Data surveys impairment and amortization | 144.0 | 99.8 | |
Depreciation and amortization capitalized in Earth Data surveys | (11.6) | (11.8) | |
Variance on provisions | 0.2 | 0.5 | |
Share-based compensation expenses | 2.2 | 1.7 | |
Net (gain) loss on disposal of fixed and financial assets | 0.1 | 0.1 | |
Share of (income) loss in companies recognized under equity method | (0.9) | (0.5) | |
Other non-cash items | (2.5) | 1.8 | |
Net cash-flow including net cost of financial debt and income tax | 210.2 | 184.1 | |
Less : Cost of financial debt | 73.6 | 75.5 | |
Less : Income tax expense (gain) | 14.2 | 24.6 | |
Net cash-flow excluding net cost of financial debt and income tax | 297.9 | 284.2 | |
Income tax paid | (10.0) | (3.8) | |
Net cash-flow before changes in working capital | 287.9 | 280.4 | |
Changes in working capital | 10.0 | (23.5) | |
- change in trade accounts and notes receivable | (2.3) | (29.4) | |
- change in inventories and work-in-progress | 7.0 | 17.4 | |
- change in other current assets | 14.9 | 6.6 | |
- change in trade accounts and notes payable | 10.6 | (0.4) | |
- change in other current liabilities | (20.2) | (17.7) | |
Net cash-flow from operating activities | 297.8 | 256.9 | |
INVESTING ACTIVITIES | |||
Total capital expenditures (tangible and intangible assets) net of variation of fixed assets suppliers, excluding Earth Data surveys) | 4 | (24.3) | (48.3) |
Investment in Earth Data surveys | (180.1) | (141.7) | |
Proceeds from disposals of tangible and intangible assets | 1.1 | - | |
Dividends received from investments in companies under the equity method | 0.5 | - | |
Total net proceeds from financial assets | - | (1.9) | |
Variation in other non-current financial assets | (2.1) | (2.9) | |
Net cash-flow used in investing activities | (205.0) | (194.8) |
Nine months ended September 30 | |||
(In millions of US$) | Notes | 2024 | 2023 |
FINANCING ACTIVITIES | |||
Repayment of long-term debt | 5 | (12.2) | (1.5) |
Total issuance of long-term debt | 5 | 0.1 | 23.0 |
Lease repayments | 5 | (43.4) | (37.9) |
Financial expenses paid | 5 | (42.2) | (46.5) |
Dividends paid and share capital reimbursements: | - | ||
— to owners of Viridien | 0.0 | - | |
— to non-controlling interests of integrated companies | (3.8) | (0.8) | |
Net cash-flow provided by (used in) financing activities | (101.6) | (63.7) | |
Effects of exchange rates on cash | 1.1 | (4.3) | |
Net cash flows incurred by discontinued operations | 3 | 22.4 | (17.0) |
Net increase (decrease) in cash and cash equivalents | 14.7 | (22.9) | |
Cash and cash equivalents at beginning of year | 327.0 | 298.0 | |
Cash and cash equivalents at end of period | 341.7 | 275.1 |
See the notes to the Interim Consolidated Financial Statements
Unaudited Interim Consolidated statements of changes in equity
Amounts in millions of US$. except share data | Number of Shares issued | Share capital | Additional paid-in capital | Retained earnings | Other reserves | Treasury shares | Income and expense recognized directly in equity | Cumulative translation adjustment | Equity attributable to owners of Viridien S.A. | Non-controlling interests | Total equity |
Balance at January 1, 2023 | 7 123 573 | 8.7 | 118.6 | 967.9 | 50.0 | (20.1) | (3.4) | (102.4) | 1 019.3 | 39.5 | 1 058.8 |
Net gain (loss) on actuarial changes on pension plan (1) | (0.7) | (0.7) | (0.7) | ||||||||
Net gain (loss) on cash flow hedges (2) | 0.2 | 0.2 | 0.2 | ||||||||
Net gain (loss) on translation adjustments (3) | 11.7 | 11.7 | (1.2) | 10.5 | |||||||
Other comprehensive income (1)+(2)+(3) | - | - | - | (0.7) | - | - | 0.2 | 11.7 | 11.2 | (1.2) | 10.0 |
Net income (loss) (4) | 28.0 | 28.0 | 3.5 | 31.5 | |||||||
Comprehensive income (1)+(2)+(3)+(4) | - | - | - | 27.3 | - | - | 0.2 | 11.7 | 39.2 | 2.3 | 41.5 |
Exercise of warrants | 238 | 0.1 | 0.1 | 0.1 | |||||||
Dividends | - | (0.9) | (0.9) | ||||||||
Cost of share-based payment | 12 951 | 1.7 | 1.7 | 1.7 | |||||||
Variation in translation adjustments generated by the parent company | (10.7) | (10.7) | (10.7) | ||||||||
Balance at September 30, 2023 | 7 136 763(a) | 8.7 | 118.7 | 996.9 | 39.3 | (20.1) | (3.2) | (90.7) | 1 049.6 | 40.9 | 1 090.5 |
Amounts in millions of US$. except share data | Number of Shares issued | Share capital | Additional paid-in capital | Retained earnings | Other reserves | Treasury shares | Income and expense recognized directly in equity | Cumulative translation adjustment | Equity attributable to owners of Viridien S.A. | Non-controlling interests | Total equity |
Balance at January 1, 2024 | 7 136 763 | 8.7 | 118.7 | 980.4 | 27.3 | (20.1) | (1.4) | (90.8) | 1 022.8 | 41.5 | 1 064.3 |
Net gain (loss) on actuarial changes on pension plan (1) | 0.4 | 0.4 | 0.4 | ||||||||
Net gain (loss) on cash flow hedges (2) | 0.2 | 0.2 | 0.2 | ||||||||
Net gain (loss) on translation adjustments (3) | 2.9 | 2.9 | 0.4 | 3.3 | |||||||
Other comprehensive income (1)+(2)+(3) | - | - | - | 0.4 | - | - | 0.2 | 2.9 | 3.5 | 0.4 | 3.9 |
Net income (loss) (4) | 21.2 | 21.2 | 0.4 | 21.6 | |||||||
Comprehensive income (1)+(2)+(3)+(4) | - | - | - | 21.6 | - | - | 0.2 | 2.9 | 24.7 | 0,8 | 25.5 |
Dividends | - | (3.8) | (3.8) | ||||||||
Cost of share-based payment | 24 703 | 2.0 | 2.0 | 2.0 | |||||||
Variation in translation adjustments generated by the parent company | (7.5) | (7.5) | (7.5) | ||||||||
Balance at September 30, 2024 | 7 161 465(b) | 8.7 | 118.7 | 1 004.0 | 19.8 | (20.1) | (1.2) | (87.9) | 1 042.0 | 38.5 | 1 080.5 |
(a) Pro forma following Reverse Share Split
(b) Reverse Share Split: Pursuant to a delegation from the Combined General Meeting of shareholders of May 15, 2024, and a sub-delegation from the Board of Directors held on the same day, the Company's Chief Executive Officer has decided to implement a reverse share split on the basis of 1 new share of
1 All variations refer to the same period last year
2 Unless otherwise stated, all figures and comments are referring to “Segment” (i.e. pre-IFRS 15), as defined in the 2023 Universal Registration Document’s glossary, under section 8.7
Attachment
FAQ
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