Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
An update from ElectroMagnetic GeoServices ASA ( (DE:E2M) ) is now available.
In its financial report for the fourth quarter of 2024, EMGS announced a significant increase in revenues to USD 9.7 million from USD 1.1 million in the previous year, alongside an improvement in adjusted EBITDA to USD 7.9 million from a negative USD 1.7 million. The company successfully completed a multi-client campaign in Norway and secured a USD 10 million contract for a CSEM survey in India, indicating strengthened market positioning and potential growth in the marine EM sector.
More about ElectroMagnetic GeoServices ASA
ElectroMagnetic GeoServices ASA (EMGS) is a leading company in the marine electromagnetic (EM) market. It provides technology and services to assist oil and gas companies in offshore hydrocarbon exploration. EMGS integrates electromagnetic data with seismic and other geophysical information to enhance exploration efficiency, reduce risks, and lower finding costs. The company is also exploring the use of its technology for marine mineral detection and estimation.
YTD Price Performance: 14.58%
Average Trading Volume: 550
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €23.52M
See more data about E2M stock on TipRanks’ Stock Analysis page.