TGS (TGS) Barclays Energy Power Conference presentation summary

Market position and scale

• Holds approximately 40% global seismic market share based on 2025 revenues.

• Employs around 1,600 people worldwide and operates six core seismic streamer vessels.

• Maintains a leading multi-client data library positioned in key exploration basins.

• Achieved $903 million EBITDA and a market capitalization of $2.9 billion as of June 2026.

• Demonstrated resilience by growing revenue 1.7x from 2010 to 2025 despite a 60% market decline.

Financial performance and shareholder returns

• EBITDA margin reached 61% with 94% streamer utilization and a $756 million backlog in Q2 2026.

• Paid $60.9 million in dividends in H1 2026, with over $1.7 billion returned to shareholders since 2010.

• Maintains a long-term net debt target of $250-350 million, supporting increased shareholder distribution.

• H1 2026 EBITDA margin was 60% and EBIT margin 24%, with streamer utilization up 23% year-over-year.

Strategic initiatives and technology

• Integrated seismic platform captures value across the exploration value chain.

• Commercial deployment of the Seismic Foundation Model leverages AI for faster, more consistent interpretation.

• Next-generation acquisition technology, Gemini X, is being commercialized.

• Multi-year AI contract validates the advantage of combining data, expertise, and cloud computing.