Viridien provides Full Year 2024 Financial Update
Viridien reported its full-year 2024 financial update, achieving revenue and EBITDA slightly above $1,100 million and $430 million respectively, in line with guidance. The company generated net cash flow of approximately $50 million, significantly exceeding its initial target of $30 million, while reducing net debt to around $930 million.
Key achievements include doubling their bond buyback commitment to $60 million, receiving an improved credit rating from S&P to B-, and extending their revolving credit facility until October 2026. The strong performance was driven by the Data, Digital & Energy Transition (DDE) segment, particularly in Geoscience activities and the Laconia project in the Gulf of Mexico.
The company reaffirmed its 2025 target of generating approximately $100 million in net cash flow, supported by strong Geoscience activity, project pipeline, and benefits from the Sensing & Monitoring restructuring. Full audited results will be announced on February 27, 2025.
Viridien ha riportato il suo aggiornamento finanziario per l'intero anno 2024, raggiungendo un fatturato e un EBITDA leggermente superiori a 1.100 milioni di dollari e 430 milioni di dollari rispettivamente, in linea con le previsioni. L'azienda ha generato un flusso di cassa netto di circa 50 milioni di dollari, superando notevolmente il suo obiettivo iniziale di 30 milioni di dollari, mentre ha ridotto il debito netto a circa 930 milioni di dollari.
Tra i risultati chiave c'è il raddoppio dell'impegno per il riacquisto di obbligazioni a 60 milioni di dollari, il miglioramento del rating creditizio da parte di S&P a B- e l'estensione della linea di credito revolving fino a ottobre 2026. Le forti performance sono state guidate dal segmento Dati, Digitale e Transizione Energetica (DDE), in particolare nelle attività di Geoscienze e nel progetto Laconia nel Golfo del Messico.
L'azienda ha confermato il suo obiettivo per il 2025 di generare circa 100 milioni di dollari di flusso di cassa netto, supportato da una forte attività nelle Geoscienze, dal pipeline di progetti e dai benefici della ristrutturazione del Sensing & Monitoring. I risultati completi e auditati saranno annunciati il 27 febbraio 2025.
Viridien anunció su actualización financiera de todo el año 2024, logrando ingresos y EBITDA ligeramente por encima de 1.100 millones de dólares y 430 millones de dólares respectivamente, de acuerdo con las expectativas. La compañía generó un flujo de caja neto de aproximadamente 50 millones de dólares, superando significativamente su objetivo inicial de 30 millones de dólares, mientras reducía la deuda neta a aproximadamente 930 millones de dólares.
Entre los logros clave se incluye el duplicar su compromiso de recompra de bonos a 60 millones de dólares, recibir una mejora en la calificación crediticia de S&P a B-, y extender su línea de crédito revolvente hasta octubre de 2026. El fuerte desempeño fue impulsado por el segmento de Datos, Digital y Transición Energética (DDE), particularmente en actividades de Geociencia y el proyecto Laconia en el Golfo de México.
La empresa reafirmó su objetivo para 2025 de generar aproximadamente 100 millones de dólares en flujo de caja neto, respaldado por una sólida actividad en Geociencias, un pipeline de proyectos y beneficios de la reestructuración de Sensing & Monitoring. Los resultados auditados completos se anunciarán el 27 de febrero de 2025.
Viridien은 2024년 연간 재무 업데이트를 발표하였으며, 수익과 EBITDA가 각각 11억 달러와 4억 3천만 달러를 약간 상회하여 가이던스에 부합하였다. 회사는 약 5천만 달러의 순현금 흐름을 창출하여, 초기 목표인 3천만 달러를 크게 초과하였으며, 순부채는 약 9억 3천만 달러로 감소하였다.
주요 성과에는 채권 매입 약속을 6천만 달러로 두 배로 늘린 것, S&P로부터 신용등급이 B-로 개선된 것, 그리고 2026년 10월까지 회전 신용시설을 연장한 것이 포함된다. 강력한 성과는 데이터, 디지털 및 에너지 전환(DDE) 부문, 특히 지구과학 활동과 멕시코만의 라코니아 프로젝트에 의해 주도되었다.
회사는 2025년까지 약 1억 달러의 순현금 흐름을 생성하겠다는 목표를 재확인하였으며, 이는 강력한 지구과학 활동, 프로젝트 파이프라인, 그리고 Sensing & Monitoring 재구성의 혜택에 의해 지원된다. 전체 감사 결과는 2025년 2월 27일에 발표될 예정이다.
Viridien a publié sa mise à jour financière pour l'année complète 2024, avec un chiffre d'affaires et un EBITDA légèrement supérieurs à 1.100 millions de dollars et 430 millions de dollars respectivement, conformément aux prévisions. La société a généré un flux de trésorerie net d'environ 50 millions de dollars, dépassant considérablement son objectif initial de 30 millions de dollars, tout en réduisant sa dette nette à environ 930 millions de dollars.
Parmi les réalisations clés, on trouve le doublement de l'engagement de rachat d'obligations à 60 millions de dollars, l'amélioration de la note de crédit de S&P à B- et l'extension de sa ligne de crédit renouvelable jusqu'en octobre 2026. La forte performance a été soutenue par le segment Données, Numérique et Transition Énergétique (DDE), en particulier dans les activités de Géosciences et le projet Laconia dans le Golfe du Mexique.
L'entreprise a confirmé son objectif pour 2025 de générer environ 100 millions de dollars de flux de trésorerie net, soutenu par une forte activité en Géosciences, le pipeline de projets et les avantages de la restructuration de Sensing & Monitoring. Les résultats complets et audités seront annoncés le 27 février 2025.
Viridien hat sein finanzielles Update für das gesamte Jahr 2024 veröffentlicht und dabei einen Umsatz und EBITDA von leicht über 1.100 Millionen Dollar und 430 Millionen Dollar erreicht, was im Einklang mit den Prognosen steht. Das Unternehmen erwirtschaftete einen Netto-Cashflow von etwa 50 Millionen Dollar, was das ursprüngliche Ziel von 30 Millionen Dollar erheblich übertroffen hat, während die Nettoverschuldung auf etwa 930 Millionen Dollar reduziert wurde.
Zu den wichtigsten Erfolgen gehört die Verdopplung des Rückkaufengagements auf 60 Millionen Dollar, die Verbesserung des Kreditratings von S&P auf B- und die Verlängerung der revolvierenden Kreditfazilität bis Oktober 2026. Die starke Leistung wurde vom Segment Daten, Digitalisierung und Energieumstellung (DDE) vorangetrieben, insbesondere bei Geowissenschaften und dem Projekt Laconia im Golf von Mexiko.
Das Unternehmen bestätigte sein Ziel für 2025, einen Netto-Cashflow von etwa 100 Millionen Dollar zu generieren, unterstützt durch starke Aktivitäten in den Geowissenschaften, eine Projektpipeline und Vorteile aus der Umstrukturierung im Bereich Sensing & Monitoring. Die vollständigen geprüften Ergebnisse werden am 27. Februar 2025 bekannt gegeben.
- Net cash flow of $50M exceeded initial target of $30M
- Revenue and EBITDA reached $1.1B and $430M respectively
- Successfully executed $60M bond buyback, double the planned amount
- Credit rating improved to B- by S&P
- Revolving credit facility extended to October 2026
- Net debt remains substantial at $930M
Insights
A strong operational performance from Viridien in 2024, with revenue reaching
The strategic bond repurchase of
The Data, Digital & Energy Transition segment's performance, particularly in Geoscience activities and the Laconia project, indicates strong market positioning in high-growth areas. The
The energy sector transition is clearly reflected in Viridien's strategic pivot through their Data, Digital & Energy Transition segment. The Laconia project in the Gulf of Mexico represents a significant opportunity to monetize seismic data assets, particularly valuable as energy companies intensify exploration activities in response to global energy security concerns.
The successful restructuring of the Sensing & Monitoring segment positions Viridien to capture emerging opportunities in the evolving energy landscape. The reduced net debt of
Paris (France), January 09, 2025, 17h45 CET
REVENUE AND EBITDA IN LINE WITH GUIDANCE
NET CASH FLOW 2024 OF c.
Sophie Zurquiyah, CEO of Viridien, said:
« 2024 was marked by the achievement of our goals set at the beginning of the year including the implementation of our ambitious financial roadmap.
We achieved EBITDA growth and net cash flow generation close to
These results were driven by the Data, Digital & Energy Transition (DDE) segment, with strong growth in Geoscience (GEO) activities and the launch of the significant Laconia project. This project enhances the value of the seismic data library of Earth Data (EDA) activities in the Gulf of Mexico.
The performance of DDE and the successful execution of the transformation plan for the Sensing & Monitoring (SMO) segment enable us to confidently reaffirm our target of generating around
Overview of 2024 Activity and Results, and 2025 Outlook
- Revenue and EBITDA for the full year 2024 estimated slightly above
$1,100 million and$430 million , respectively - Net cash generation of c.
$50 million leading to a net debt (after IFRS 16) of c.$930 million - Net cash generation exceeding the initial target of c.
$30 million due to earlier than expected client collection.
- Net cash generation exceeding the initial target of c.
- Delivering on our financial roadmap
- Improved credit rating by Standard & Poor’s to B-.
$60 million of bond buy-back.- Revolving credit facility extended until October 2026 as part of preparation for the refinancing of the 2027 bonds.
- Improved credit rating by Standard & Poor’s to B-.
- 2025 net cash generation objective of c.
$100 million reiterated- Continued strong activity in GEO, strong pipeline of projects and termination of the contractual fees from vessel commitment for EDA, and benefits of the SMO restructuring.
- Full Year 2024 Results and conference call
- Viridien will announce its fourth quarter 2024 and full year 2024 audited results on February 27, 2025, after market close.
- Viridien will announce its fourth quarter 2024 and full year 2024 audited results on February 27, 2025, after market close.
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: FR001400PVN6))
Contact:
VP Corporate Finance
Jean-Baptiste Roussille
jean-baptiste.roussille@viridiengroup.com
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