Gulf Oil and Gas accountACCOUNT

TGS Announces Strong Cash Flow & 39% Dividend Growth

Source: www.gulfoilandgas.com 2/12/2020, Location: North America

TGS reported net segment revenues of USD 232 million for Q4 2019, a growth of 23% compared to USD 188 million in Q4 2018. The strong performance was mainly driven by improved sales momentum in Latin America and North America.

EBITDA for Q4 2019 was USD 194 million excluding restructuring costs of USD 5 million (margin of 83%) compared to USD 200 million in Q4 2018 (margin of 83%).

Cash flow was strong during the quarter and the net cash balance increased to USD 323 million compared to USD 274 million at the end of 2018. This supports a dividend of USD 0.375 per share to be paid in Q1 2020, a growth of 39%. Furthermore, TGS continues to deliver industry leading ROACE of 19% in 2019, up from 18% a year earlier.

The acquisition of Spectrum is moving ahead as planned and USD 20 million in synergies have been identified and are in the process of being realized in 2020.

Kristian Johansen, CEO of TGS, stated: "TGS delivered another solid quarter in Q4 2019 despite E&P companiesí continued focus on cost control and capital discipline. I'm particularly pleased to see that we are continuing our strong performance in the Latin America region, where the company is well positioned to continue benefiting from our customersí need to replenish reserves, targeting prolific and high potential basins. Furthermore, our sales pipeline for Q1 2020 looks promising, with high vessel activity combined with solid pre-funding."

Kristian Johansen and Dean Zuzic, CFO, will present the results on 12 February 2020 at 09:00 CET at the Felix Conference Center, Aker Brygge, Oslo, Norway.



Financials and Investment News in United States >>

United States >>  2/14/2020 - Mosman Oil and Gas Limited the oil exploration, development and production company, announces that the Company has raised £300,000 (before expenses) (...
United States >>  2/12/2020 - TGS reported net segment revenues of USD 232 million for Q4 2019, a growth of 23% compared to USD 188 million in Q4 2018. The strong performance was m...

United Kingdom >>  2/10/2020 - InfraStrata, the UK quoted company focused on strategic infrastructure projects and physical asset life-cycle management, is pleased to announce that ...
United States >>  2/10/2020 - President Trump proposed a $188.8 million Fiscal Year (FY) 2021 budget for BOEM to safely and responsibly manage offshore energy and mineral resources...

Namibia >>  2/7/2020 - Impact Oil & Gas Limited, the privately-owned, African-focused exploration company, is pleased to announce that it has secured funds, with gross proce...
Norway >>  2/6/2020 - DNO ASA, the Norwegian oil and gas operator, reported interim 2019 revenues of USD 971 million, the highest in the Company's 48-year history, on the b...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.