Viridien (VIRI) Q4 2024 TU earnings summary

Financial performance and guidance

• 2024 revenue and EBITDA estimated slightly above $1,100 million and $430 million, respectively.

• Net cash flow reached approximately $50 million, surpassing the initial $30 million target due to earlier client collections.

• Net debt after IFRS 16 stands at around $930 million.

Strategic initiatives and credit profile

• $60 million in bond buybacks completed, doubling the original $30 million commitment.

• Credit rating upgraded by S&P to B-.

• Revolving credit facility extended to October 2026, supporting 2027 bond refinancing plans.

Segment performance and operational highlights

• Data, Digital & Energy Transition (DDE) segment drove results, with strong Geoscience (GEO) growth and the launch of the Laconia project.

• Laconia project enhances the value of the Earth Data (EDA) seismic library in the Gulf of Mexico.

• Sensing & Monitoring (SMO) segment transformation plan executed successfully.