Viridien provides Full Year 2024 Financial Update

Core Insights - The company achieved revenue and EBITDA in line with guidance, with net cash flow for 2024 estimated at approximately $50 million, exceeding initial expectations of$30 million [1][3][7] - The CEO highlighted the successful implementation of the financial roadmap and the achievement of set goals for 2024 [2][5] - The strong performance was driven by the Data, Digital & Energy Transition (DDE) segment, particularly through Geoscience (GEO) activities and the launch of the Laconia project [4][5] Financial Performance - Full year 2024 revenue is estimated to be slightly above $1,100 million, with EBITDA around$430 million [7] - The company repurchased $60 million of its own bonds, doubling the initial commitment of$30 million, and improved its credit rating from S&P [3][7] - Net cash generation exceeded the initial target due to earlier than expected client collections, leading to a net debt of approximately $930 million after IFRS 16 [7] Future Outlook - The company reiterated its target of generating around$100 million in net cash flow for 2025 [5][7] - Continued strong activity in GEO and a robust pipeline of projects are expected to support future growth [7] - The revolving credit facility has been extended until October 2026 as part of the preparation for refinancing the 2027 bonds [3][7]