Paris (France), October 30, 2025
2025 third-quarter results
Strong performance driving Net Cash Flow generation
-- Segment revenue of $313m in Q3 2025, up +27% year-on-year, with all
business lines contributing positively
-- Segment adjusted EBITDAs of $167m in Q3 2025, up a massive +70%
year-on-year, representing a 53% margin (vs 40% in Q3 2024), supported by
strong Earth Data contribution and solid Geoscience profitability
-- Net Cash Flow generation of $53m in the quarter, $62m year-to-date at
end-September
-- Active liability management with partial bond redemptions in early
October ($25m on the USD tranche,$23m on the EUR one)
-- Full-year 2025 Net Cash Flow target of $100m reiterated
Sophie Zurquiyah, Chair and CEO of Viridien: "Viridien delivered a strong third quarter, contributing to solid Net Cash Flow generation. Our main focus on major offshore projects and close collaboration with leading energy companies continue to drive our performance. More than ever, Viridien offers unique, high-value solutions for exploration and production, making us a strategic partner, less affected by market fluctuations. With a Net Cash Flow of $62 million at the end of September, we are confidently progressing toward our full-year target of $100 million and have initiated approximately $50 million in bond buybacks."
(in millions of $)(1) Q3 2025 Q3 2024 Change (%) 9M 2025 9M 2024 Change (%) Segment figures Revenue 313 246 +27% 888 778 +14% Adjusted EBITDAs 167 98 +70% 417 298 +40% IFRS figures Revenue 266 219 +22% 758 785 -3% EBITDAs 120 71 +70% 287 301 -5% Operating Income 77 23 +236% 149 95 +57% Net Income 41 -10 n.a. 19 22 -10% Net Cash Flow 53 10 +426% 62 34 +83% Net Debt (incl. IFRS16) 977 1 003 -3% 977 1 003 -3% ------------------ ------- ------- ---------- ------- ------- ----------
KEY HIGHLIGHTS PER BUSINESS LINE(2)
Data, Digital and Energy Transition $(DDE)$
Segment revenue at $244 m in Q3 2025, up +31% year-on-year, with strong Earth Data late sales.
Geoscience $(GEO)$
-- Revenue at $108 m (+5%)
-- Activity remains strong, fueled by large OBN projects offshore Brazil and
in the US Gulf, with additional support from the Middle East
Earth Data (EDA)
-- Revenue at $136 m (+63%), fueled by market appetite for high-end data and
recent M&A transactions
-- Good progress on the Megabar Extension Phase 1 project in Brazil. Overall
EDA capex reduced thanks to a higher share of projects developed in
partnership
Segment adjusted EBITDAs at $167 m, up +70% year-on-year, with a margin lifted to 70% vs 58% in Q3 2024 given the massive flow through of EDA's late sales. EDA Cash EBITDA at $73 m vs -$13 m in Q3 2024.
Sensing and Monitoring (SMO)
Segment revenue at $69 m in Q3 2025, +16% increase year-on-year. Activity remains largely driven by the Land segment, with a mix of flagship high-productivity surveys ongoing in North America and medium-to-small crews ensuring business resilience across South America, the Middle East, and Asia.
Segment adjusted EBITDAs at $4 m, compared to $1 m in Q3 2024. Profitability benefited from the higher level of activity and a more streamlined cost structure resulting from the restructuring plan. Note that adverse foreign exchange effects from the depreciation of the U.S. dollar negatively impacted performance by approximately $3 million, as SMO bears most of its cost base in euros.
Segment adjusted operating income at -$2 m vs -$7m in Q3 2024. At constant exchange rates versus last year, operating income would have reached $1m, consistent with the objective of the past 24-month restructuring plan to reduce SMO's break-even point to a run-rate of around $270m in annual revenue.
CONSOLIDATED IFRS FIGURES(3)
Profit & Loss
Consolidated IFRS revenue for Q3 2025 came in at $266m, up +22% year-on-year. EBITDAs stood at $120m, up +70%.
IFRS Net Income reached $41m, vs -$10m in Q3 2024, after accounting notably for -$43 m of leases and D&A,
-$27m net cost of financial debt, and -$9m of income taxes.
(in millions of $) Q3 2025 Q3 2024 Change (%) 9M 2025 9M 2024 Change (%)
EUR/$ exchange
rate 1.16 1.09 +7% 1.11 1.09 +2%
------------------ ------- ------- ---------- ------- ------- ----------
Revenue 266 219 +22% 758 785 -3%
EBITDAs 120 71 +70% 287 301 -5%
------------------ ------- ------- ---------- ------- ------- ----------
Operating income 77 23 +236% 149 95 +57%
Equity from
investment 0 1 n.s. -1 1 n.a.
Net cost of
financial debt -27 -24 +12% -79 -74 +8%
Other financial
income (loss) -1 0 n.a. -35 -1 n.s.
Income taxes -9 -9 +4% -16 -14 +15%
------- ------- ---------- ------- ------- ----------
Net Income (loss)
from continuing
operations 41 -9 n.a. 17 7 +145%
Net Income (loss)
from discontinued
operations 1 -1 n.a. 3 15 -83%
------- ------- ---------- ------- ------- ----------
Consolidated Net
Income (loss) 41 -10 n.a. 19 22 -10%
------------------ ------- ------- ---------- ------- ------- ----------
Cash Flow and Net debt
Net Cash Flow of $53m generated in Q3 2025, bringing the cumulative figure at end-September to $62m. Performance was driven by Segment EBITDAs and disciplined capex, while the change in working capital continues to weigh on cash generation. The Group continues, in particular, to work actively on collecting overdue receivables from the Mexican National Oil Company, PEMEX.
Change Change
(in millions of $) Q3 2025 Q3 2024 (%) 9M 2025 9M 2024 (%)
Segment EBITDAs 167 98 +70% 417 294 +42%
Income tax paid -6 2 n.a. -14 -10 +39%
Change in working
capital & provisions -36 22 n.a. -82 18 n.a.
Other cash items 0 0 n.a. -1 0 n.a.
Cash from Operating
Activity 125 122 +3% 320 302 +6%
------- ------- -------- ------- ------- --------
Total capex -54 -90 -40% -173 -205 -16%
Acquisitions and
proceeds of assets 1 0 n.s. 2 1 +206%
Cash from Investing
Activity -53 -90 -41% -171 -204 -16%
------- ------- -------- ------- ------- --------
Paid cost of debt -1 1 n.a. -41 -42 -2%
Lease repayment -18 -16 +12% -44 -43 +2%
Other financing
activities 0 0 n.s. -1 -1 +13%
Cash from Financing
Activity -19 -15 +28% -86 -86 +0%
------- ------- -------- ------- ------- --------
Discontinued
operations
acquisitions -1 -7 -93% -1 22 n.a.
Net Cash Flow 53 10 +426% 62 34 +83%
------- ------- -------- ------- ------- --------
Refinancing costs paid
(fees + call
premium) 0 0 n.a. -42 0 n.a.
Repayment and issuance
of debt 9 -12 n.a. -104 -12 x9
Forex and other 3 3 +3% 8 -8 n.a.
Net increase
(decrease) in Cash 65 2 x36 -75 15 n.a.
------- ------- -------- ------- ------- --------
Viridien continues to actively manage its liabilities in line with its commitments to deleverage the Group and optimize financing costs. In this context:
-- In July 2025, the Group obtained two unsecured loans of EUR5m each from
Bpifrance, the French public investment bank. These loans have a 4-year
maturity and carry attractive annual interest rates of around 4.6%,
roughly half the cost of existing debt;
-- In early October 2025, the Group executed a partial bond redemption at
103, as provided for under the bond documentation, using available cash
to repurchase $25m of its USD-denominated tranche and EUR20m ($23m) of
its EUR-denominated one. This transaction will generate annual interest
savings of approximately $4.5m going forward.
Both initiatives will further enhance the Group's future Net Cash Flow and support its ongoing deleveraging trajectory. As of end-September 2025, Viridien maintained a strong liquidity position, including a $125m RCF(4) .
(in millions of Sept. 30, Dec. 31, Sept. 30,
$) 2025 2024 Change (%) 2024 Change (%)
---------- ----------- ---------- ----------- ----------
Liquidity 327 392 -17% 442 -26%
Cash 227 302 -25% 342 -34%
Undrawn RCF 100 90 +11% 100 0%
---------- ----------- ---------- ----------- ----------
Gross Debt 1,204 1,223 -2% 1,345 -10%
Bonds 988(5) 1,049 -6% 1,143 -14%
Other borrowings 42 31 +35% 31 +34%
Accrued
interests 48 18 +160% 43 +11%
Lease
liabilities 126 125 +1% 127 -1%
---------- ----------- ---------- ----------- ----------
Net Debt 977 921 +6% 1,003 -3%
---------------- ---------- ----------- ---------- ----------- ----------
OUTLOOK
Oil prices remain volatile, and short-term fluctuations could prompt some arbitrage or rescheduling of E&P investments should prices temporarily soften. However, exploration and seismic activities are expected to remain resilient, with potential spending cuts more likely to affect other parts of the value chain.
Exploration and seismic are supported by structurally positive fundamentals, as E&P operators increasingly recognize the risks to production sustainability in a context of accelerating field depletion and the need to secure long-term resource supply.
Building on its strong value proposition, extensive high-quality data library, solid track record, and robust backlog, Viridien looks ahead with confidence in its ability to sustain strong cash generation and advance its deleveraging objectives, starting with the delivery of its $100 million Net Cash Flow target in 2025.
***
Q3 2025 conference call details
The press release and presentation will be made available on www.viridiengroup.com at 5:45 p.m. $(CET)$.
An English-language conference call is scheduled today at 6:00 p.m. (CET).
Participants must register for the conference call by clicking here to receive a dial-in number and PIN code. Participants may also join the live webcast by clicking here.
A replay of the conference call will also be available, for a period of 12 months, on the Company's website www.viridiengroup.com.
Status of the statutory auditors' procedures
The Board of Directors met on October 30, 2025, and closed the consolidated financial statements as of September 30, 2025. Please note that the figures and information published in this press release have not been audited nor subject to any limited review by Viridien's statutory auditors.
Next financial information
2025 full-year results: February 26, 2026 (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 resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,200 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).
Disclaimer
Certain information included in this press release is not historical data but forward-looking statements. These forward-looking statements are based on current beliefs and assumptions, including, but not limited to, assumptions about current and future business strategies and the environment in which Viridien operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results or performance, or the results or other events, to be materially different from those expressed or implied in such forward-looking statements. These risks and uncertainties include those discussed or identified in Chapter 2 "Risk Management and Internal Control" of the Universal Registration Document dated March 6, 2025, filed with the French Financial Markets Authority (AMF) under number D. 25-0075 and available on the Group's website (www.viridiengroup.com) and on the AMF website (www.amffrance.org). These forward-looking statements and information are not guarantees of future performance. Forward-looking statements speak only as of the date of this press release. This press release does not contain or constitute an offer of securities or an invitation or inducement to invest in securities in France, the United States, or any other area.
Investors contact
VP Investor Relations and Corporate Finance
Alexandre Leroy
alexandre.leroy@viridiengroup.com
+33 6 85 18 44 31
APPENDICES
Quarterly financial statements are unaudited and not subject to any review.
Key Segment P&L figures
(in millions of $) Q3 2025 Q3 2024 Change (%) 9M 2025 9M 2024 Change (%)
EUR/$ exchange
rate 1.16 1.09 +7% 1.11 1.09 +2%
------------------ ------- ------- ---------- ------- ------- ----------
Segment Revenue 313 246 +27% 888 778 +14%
DDE 244 187 +31% 639 548 +17%
Geoscience 108 103 +5% 334 296 +13%
Earth Data 136 83 +63% 306 252 +21%
SMO 69 59 +16% 249 230 +8%
Land 31 28 +9% 139 102 +36%
Marine 21 13 +65% 67 88 -24%
Other 17 18 -6% 43 40 +8%
------------------ ---------- ----------
Segment EBITDAs 167 98 +70% 417 294 +42%
------- ------- ---------- ------- ------- ----------
Adjusted Segment
EBITDAs 167 98 +70% 417 298 +40%
DDE 170 108 +58% 408 307 +33%
SMO 4 1 +466% 30 17 +78%
Corporate and
other -7 -10 -29% -22 -26 -16%
------------------ ---------- ----------
Segment Operating
Income 93 27 +246% 179 80 +124%
------- ------- ---------- ------- ------- ----------
Adjusted Segment
Operating Income 93 27 +245% 179 84 +113%
DDE 103 44 +137% 190 117 +62%
SMO -2 -7 -70% 13 -7 n.a.
Corporate and
other -8 -10 -13% -24 -27 -10%
------------------ ------- ------- ---------- ------- ------- ----------
EDA Cash EBITDA 73 -13 n.a. 112 31 +260%
------------------ ------- ------- ---------- ------- ------- ----------
Other KPIs
(in millions of $) Q3 2025 Q3 2024 Change (%) 9M 2025 9M 2024 Change (%)
------------------ ------- ------- ---------- ------- ------- ----------
Geoscience backlog 290 245 +19% 290 245 +19%
------- ------- ---------- ------- ------- ----------
Total capex 54 90 -40% 173 205 -16%
------- ------- ---------- ------- ------- ----------
Earth Data library
net book value 534 499 +7% 534 499 +7%
------- ------- ---------- ------- ------- ----------
Definition of Alternative Performance Indicators (API)
In its communications, Viridien includes Alternative Performance Indicators, the main ones being Segment Revenue, Segment EBITDAs, Adjusted Segment EBITDAs, and EDA Cash EBITDA. Their definitions are set out in the 2024 Universal Registration Document filed with the French Financial Markets Authority (AMF) and are reiterated below:
-- Segment revenue: Segment revenue is prepared in accordance with internal
management reporting with Earth Data prefunding revenues recorded based
upon percentage of completion.
-- Segment EBITDAs: Segment EBITDAs is defined as earnings before interest,
tax, income from equity affiliates, depreciation, amortization net of
amortization costs capitalized to Earth Data surveys, and cost of
share-based compensation for employees and senior executives. The cost of
share-based compensation includes the cost of stock options and
allotments of performance shares. Segment EBITDAs is calculated based on
internal management reporting, in which prefunding revenue from Earth
Data surveys is recognized using the percentage of completion method.
-- Adjusted segment EBITDAs: Adjusted segment EBITDAs is Segment EBITDAs
adjusted for non-recurring charges and gains.
-- EDA Cash EBITDA: EDA Cash EBITDA is defined as EDA (Earth Data) adjusted
segment EBITDAs less investment in EDA surveys for the period, excluding
inactivity compensation fees related to the vessel capacity agreement
signed between Viridien and Shearwater. This indicator is used
exclusively for the EDA activity.
Reconciliation of API with the condensed interim consolidated financial statements
The table below outlines the accounting adjustments made in accordance with IFRS 15(6) requirements. Over the period, these adjustments primarily relate to major survey projects conducted by Earth Data in the US Gulf and Norway.
(in millions of
$) Q3 2025 9M 2025
----------------------------- -----------------------------
IFRS 15 IFRS 15
Segment adjustments IFRS Segment adjustments IFRS
------- -------------- ---- ------- -------------- ----
Revenue 313 -46 266 888 -130 758
---------------- ------- -------------- ---- ------- -------------- ----
EBITDAs 167 -46 120 417 -130 287
Adjustments 0 0
Adjusted EBITDAs 167 -46 120 417 -130 287
---------------- ------- -------------- ---- ------- -------------- ----
Interim Consolidated Statement of Operations
(in millions of $, except per share data) 9M 2025 9M 2024
------- -------
Operating revenues 758.1 784.8
------- -------
Other income from ordinary activities 0.2 0.1
------- -------
Total income from ordinary activities 758.2 784.9
------- -------
Cost of operations (520.8) (587.1)
------- -------
Gross profit 237.4 197.8
------- -------
Research and development expenses - net (9.1) (15.2)
------- -------
Marketing and selling expenses (25.6) (28.6)
------- -------
General and administrative expenses (54.9) (55.9)
------- -------
Other revenues (expenses) - net 0.9 (3.6)
------- -------
Operating Income (loss) 148.7 94.6
------- -------
Cost of financial debt - gross (83.5) (82.3)
------- -------
Income from cash and cash equivalents 4.0 8.7
------- -------
Cost of financial debt - net (79.5) (73.6)
------- -------
Other financial income (loss) (34.9) (0.9)
------- -------
Income (loss) before income taxes and share of income
(loss) from companies accounted for under the equity
method 34.3 20.1
------- -------
Income taxes (16.3) (14.2)
------- -------
Income (loss) before share of income (loss) from companies
accounted for under the equity method 18.0 6.0
------- -------
Net income (loss) from companies accounted for under
the equity method (1.1) 0.9
------- -------
Net income (loss) from continuing operations 16.8 6.9
------- -------
Net income (loss) from discontinued operations 2.5 14.7
------- -------
Consolidated net income (loss) 19.3 21.6
------- -------
Attributable to:
Owners of Viridien SA 18.5 21.2
------- -------
Non-controlling interests 0.8 0.4
------- -------
Net income (loss) per share
Basic 2.59 2.97
------- -------
Diluted 2.57 2.95
------- -------
Net income (loss) from continuing operations per share
Basic 2.23 0.91
------- -------
Diluted 2.22 0.91
------- -------
Net income (loss) from discontinued operations per
share
Basic 0.35 2.06
------- -------
Diluted 0.35 2.05
------- -------
Interim Consolidated Statement of Financial Position
(in millions of $) Sept. 30, 2025 Dec. 31, 2024
-------------- -------------
ASSETS
Cash and cash equivalents 226.6 301.7
-------------- -------------
Trade accounts and notes receivable, net 328.5 339.9
-------------- -------------
Inventories and work-in-progress, net 162.1 163.3
-------------- -------------
Income tax assets 13.9 22.9
-------------- -------------
Other current assets, net 70.5 74.0
-------------- -------------
Assets held for sale, net 28.6 24.5
-------------- -------------
Total current assets 830.1 926.2
-------------- -------------
Deferred tax assets 39.8 43.6
-------------- -------------
Other non-current assets, net 8.9 8.9
-------------- -------------
Investments and other financial assets, net 29.8 25.7
-------------- -------------
Investments in companies under the equity
method 0.0 1.1
-------------- -------------
Property, plant and equipment, net 218.5 220.6
-------------- -------------
Intangible assets, net 614.3 535.4
-------------- -------------
Goodwill, net 1,092.0 1,082.8
-------------- -------------
Total non-current assets 2,003.4 1,918.1
-------------- -------------
TOTAL ASSETS 2,833.5 2,844.3
-------------- -------------
LIABILITIES AND EQUITY
Financial debt -- current portion 104.6 56.9
-------------- -------------
Trade accounts and notes payables 52.7 120.9
-------------- -------------
Accrued payroll costs 91.6 84.5
-------------- -------------
Income taxes payable 9.1 20.4
-------------- -------------
Advance billings to customers 13.5 19.2
-------------- -------------
Provisions -- current portion 14.4 19.7
-------------- -------------
Other current financial liabilities 0.0 0.5
-------------- -------------
Other current liabilities 286.4 182.5
-------------- -------------
Liabilities associated with non-current assets
held for sale 1.7 2.4
-------------- -------------
Total current liabilities 574.0 507.0
-------------- -------------
Deferred tax liabilities 10.8 18.4
-------------- -------------
Provisions - non-current portion 34.7 28.8
-------------- -------------
Financial debt -- non-current portion 1,099.3 1,165.6
-------------- -------------
Other non-current financial liabilities 0.0 0.0
-------------- -------------
Other non-current liabilities 2.2 1.7
-------------- -------------
Total non-current liabilities 1,146.9 1,214.5
-------------- -------------
Common stock: 11,199,944 shares authorized and
7,180,449 shares with a nominal value of
EUR1.00 outstanding at September 30, 2025 8.7 8.7
-------------- -------------
Additional paid-in capital 118.7 118.7
-------------- -------------
Retained earnings 1,056.2 1,036.5
-------------- -------------
Other Reserves (0.8) 55.2
-------------- -------------
Treasury shares (20.1) (20.1)
-------------- -------------
Cumulative income and expense recognized
directly in equity (1.7) (1.1)
-------------- -------------
Cumulative translation adjustment (86.4) (113.3)
-------------- -------------
Equity attributable to owners of Viridien S.A. 1,074.7 1,084.7
-------------- -------------
Non-controlling interests 37.9 38.1
-------------- -------------
Total equity 1,112.7 1,122.8
-------------- -------------
TOTAL LIABILITIES AND EQUITY 2,833.5 2,844.3
-------------- -------------
Interim Consolidated Statement of Cash Flows
(in millions of $) 9M 2025 9M 2024
---------- ----------
OPERATING ACTIVITIES
---------- ----------
Consolidated net income (loss) 19.3 21.6
---------- ----------
Less: Net income (loss) from discontinued operations (2.5) (14.7)
---------- ----------
Net income (loss) from continuing operations 16.8 6.9
---------- ----------
Depreciation, amortization and impairment 64.3 71.8
---------- ----------
Earth Data surveys impairment and amortization 83.2 144.0
---------- ----------
Depreciation and amortization capitalized in Earth
Data surveys (12.1) (11.6)
---------- ----------
Variance on provisions (5.5) 0.2
---------- ----------
Share-based compensation expenses 3.3 2.2
---------- ----------
Net (gain) loss on disposal of fixed and financial
assets (1.3) 0.1
---------- ----------
Share of (income) loss in companies recognized under
equity method 1.1 (0.9)
---------- ----------
Other non-cash items 30.3 (2.5)
---------- ----------
Net cash-flow including net cost of financial debt
and income tax 180.2 210.2
---------- ----------
Less: Cost of financial debt 79.5 73.6
---------- ----------
Less: Income tax expense (gain) 16.3 14.2
---------- ----------
Net cash-flow excluding net cost of financial debt
and income tax 276.0 297.9
---------- ----------
Income tax paid (14.0) (10.0)
---------- ----------
Net cash-flow before changes in working capital 261.9 287.9
---------- ----------
Changes in working capital 58.1 10.0
---------- ----------
- change in trade accounts and notes receivable 122.5 (2.3)
---------- ----------
- change in inventories and work-in-progress 16.7 7.0
---------- ----------
- change in other current assets (2.4) 14.9
---------- ----------
- change in trade accounts and notes payable (64.9) 10.6
---------- ----------
- change in other current liabilities (12.8) (20.2)
---------- ----------
- change in current financial items (0.9) 0.0
---------- ----------
Net cash-flow from operating activities 320.1 297.8
---------- ----------
INVESTING ACTIVITIES
----------
Total capital expenditures (including variation of
fixed assets suppliers, excluding Earth Data
surveys) (26.7) (24.3)
---------- ----------
Investment in Earth Data surveys, net cash (146.0) (180.1)
---------- ----------
Proceeds from disposals of tangible and intangible
assets 1.0 1.1
---------- ----------
Proceeds from divestment of activities and sale of
financial assets 1.0 0.0
---------- ----------
Dividends received from investments in companies
under the equity method 0.0 0.5
---------- ----------
Variation in loans granted (0.0) 0.0
---------- ----------
Variation in other non-current financial assets 4.1 (2.1)
---------- ----------
Net cash-flow from investing activities (166.6) (205.0)
---------- ----------
FINANCING ACTIVITIES
------------------------------------------------- ------------ ----------
Repayment of long-term debt (1,075.8) (12.2)
-------------------------------------------------- ------------ ----------
Total issuance of long-term debt 955.6 0.1
------------ ----------
Call premium (21.9) 0.0
------------ ----------
Refinancing transaction costs paid (3.7) 0.0
------------ ----------
Lease repayments (44.1) (43.4)
------------ ----------
Interests paid (41.4) (42.2)
------------ ----------
Dividends paid and share capital reimbursements:
------------
- to owners of Viridien 0.0 0.0
------------ ----------
- to non-controlling interests of integrated
companies (1.4) (3.8)
------------ ----------
Net cash-flow from financing activities (232.8) (101.6)
------------ ----------
Effects of exchange rates on cash 4.4 1.1
------------ ----------
Net cash flows incurred by discontinued operations (0.2) 22.4
------------ ----------
Net increase (decrease) in cash and cash
equivalents (75.1) 14.7
------------ ----------
Cash and cash equivalents at beginning of year 301.7 327.0
------------ ----------
Cash and cash equivalents at end of period 226.6 341.7
-------------------------------------------------- ------------ ----------
(1) Quarterly financial statements are unaudited and not subject to any review
(2) Please refer to the "Definitions of Alternative Performance Indicators" in the appendices for explanations of the terms used in this section
(3) The reconciliation of alternative performance indicators to the condensed interim consolidated financial statements is provided in the appendices, along with their definitions
(4) $125m RCF of which $25m ancillary guarantee facility (used for $15m) and $100m fully undrawn
(5) Including a $64m negative foreign exchange impact compared to December 31, 2024
(6) IFRS 15 requires that Earth Data prefunding revenues be recognized only upon delivery of the final processed data, that is, when the performance obligation is fulfilled. As a result, revenue and margin recognition for ongoing surveys is deferred. Viridien's segment reporting, however, continues to apply the percentage-of-completion method previously used before the adoption of IFRS 15, for recognizing Earth Data prefunding revenues and associated margins
Attachment
-- Viridien - Q3 2025 results
(END) Dow Jones Newswires
October 30, 2025 12:45 ET (16:45 GMT)