Good morning, and welcome to our Q3 conference call. My name is Carel Hooijkaas. With me today, I have my CFO, Mark Ivin. In Q3, we generated solid EBITDA on high crew utilization. Importantly, we continued to operate safely with the 12-month rolling TRCF at 1.2 and no COVID-19 cases offshore. We continue to execute our renewable strategy. This includes the successful acquisition of the pilot project over the wind farm area in Denmark. This marks our first survey in the renewable space, with more activity scheduled for next year. We also launched the Echova platform, the first OBN technology platform, which integrates the OBN seismic value chain. For Q3, revenue came in at $84.3 million, with a gross margin of 30%. EBITDA came in at $19.7 million or 23% on the back of higher crew utilization, and we delivered a positive net profit. We generated an operating cash flow, excluding net working capital movements of $20 million. The available cash at the end of Q3 was $41.2 million, including the undrawn RCF of $15 million. Total backlog at the end of Q3 was $247 million, of which $67 million is for delivery in Q4 2021. Looking forward, we continue to see increased tendering activity for 2022 projects, not only in our core areas of the Gulf of Mexico and North Sea, but also in Latin America and Asia. We're also responding to tenders in the renewable space for execution in 2022. The focus areas are North America, Europe, and Asia. Let's now take a look at our operational performance. In the quarter, we delivered solid operational performance. The ZXPLR1 crew completed a Gulf of Mexico project and transitioned to another project in the same region. The ZXPLR2 crew acquired and completed a project in Angola. The Z700 crew mobilized and started the acquisition of a project in the North Sea, and the reservoir monitoring and source crews worked on their regular summer season projects in Norway. The MASS crew completed a North Sea project for ConocoPhillips as part of the long-term contract and mobilized for a new project. In the quarter, we executed the pilot project over a wind farm area in Denmark. This provides us with a real data set that can be used to develop new proprietary acquisition opportunities in the renewable space. The second pilot project over a CCS field in Norway will be acquired in Q2 of 2022. As announced previously, we have signed an agreement with TGS to work together on these pilots. Magseis Fairfield will be responsible for the acquisition, while TGS will be responsible for the data processing. We already announced that we signed an MoU to become part of the Greensand project in Denmark. Engineering work will start in Q1 of 2022, with project execution scheduled for Q4 of 2022. Importantly, we are responding to tenders in the renewable space for execution in 2022. As highlighted before, securing quality backlog has been our number one priority. It provides us great operational visibility. At the end of Q3, backlog stands at $247 million. Three contracts were awarded to us in Q3. We were awarded a substantial OBN survey in Asia for an undisclosed customer. The duration of the survey is approximately five months and is scheduled to commence in the fourth quarter using Z700 technology. This survey requires the full Z700 node inventory and two node handling vessels. The revenue generation potential is therefore equivalent to 10 acquisition months using a single node handler. We were also awarded a two-month OBN survey for a multi-client company in the North Sea, starting in the third quarter using our Z700 technology. This includes the right of first offer for further multi-client surveys in 2022. Last but not least, we were awarded a small project in the North Sea for a multi-client company using our MASS technology. As the market continues to strengthen, we are submitting proposals at ever-increasing margins, although they have not yet recovered to pre-COVID-19 levels. Let's now take a look at our updated crew activity backlog. The ZXPLR1 crew is now booked into Q1 in the Gulf of Mexico. The ZXPLR2 crew completed the project in Angola, and was then scheduled to return for a project in the Gulf of Mexico. The multi-client company we were going to work for hadn't secured sufficient pre-commit yet. The vessels we used in Angola were on short-term charters, and were therefore returned to their owners following the completion of the project, limiting the financial impact of the delay. This once again shows the strength and advantage of having an asset-light business model. The project is now expected to start in Q1. Following weather delays, the Z700 crew completed the project we announced in Q3 in the North Sea, and has now started the transit to Asia for the five-month project there. The MASS crew is executing the projects we have been awarded in the North Sea, and then remains available for additional opportunities. The reservoir monitoring and source crews are under contract, and are doing the necessary maintenance and readiness preparations ahead of the startup of work at the end of Q1. The extended high resolution, or XHR renewables crew, completed the wind farm pilot and will mobilize for the CCS pilot at the end of Q1. With that, I'll hand the call to Mark. Thank you, Carel. As you can already tell, Q3 was a productive and profitable quarter for us. Let's take a look at the financials for Q3. In the third quarter, we had revenues of $84.3 million, up from $58.8 million in Q2, and $42.9 million in Q1. The revenue increase is driven by significantly better crew utilization across the board. The gross margin improved to 30% in the quarter, and EBITDA increased to $19.7 million, up from $14.3 million in Q2, and $0.6 million in Q1. We ended Q3 with available cash of $41.2 million, and with cash holdings of $26.2 million. The reduced cash balance was driven solely by an expected temporary increase in working capital from the increased customer project and crew activity we've had. This expected activity increase was precisely why we in July secured an agreement with DNB to temporarily increase our RCF from $30 million to $45 million. The working capital is already stabilizing in Q4, and the additional RCF of $50 million will be repaid in December. Revenues in Q3 of $84.3 million illustrates the higher activity level for our Data Acquisition business. Carel's given you the operational project overview per crew, but to add to the utilization ratio view, our acquisition crews had an average utilization of 83% in Q3, and that is up from 66% in Q2, and 41% in Q1. Our three reservoir monitoring and source crews were virtually fully booked in Q3 on operational and maintenance projects. Looking ahead, we expect fourth quarter revenues to be seasonally lower than Q3, and we now have $67 million of backlog scheduled for delivery for the rest of 2021. Provided our backlog stays intact, and that's a standard disclaimer as always, year-to-date revenues plus the backlog for Q4 amounts to a 2021 full year revenue figure of $253 million. This is slightly lower than we saw for the full year during our Q2 presentation due to some project work being moved into 2022. To repeat from the previous quarters, we do not recognize any revenue from the Cornerstone multi-client project until data processing is completed and pre-funding and late sales will be recognized as revenue in our P&L at that time. As you know, CGG are handling the data processing and will have the data for the main survey area ready now in the fourth quarter, and the remaining area will be ready early in 2022. As we have mentioned before, the Cornerstone project was a successful cash neutral multi-client project for Magseis Fairfield, and we are optimistic about the potential for late sales over the coming quarters. Gross profit generation in Q3 is up to $25.1 million, up from $16.8 million in Q2, and $7.9 million in Q1, again, driven by the high activity level and crew utilization. As we spoke about already in the fourth quarter last year, we did expect a dip in Q1 to be followed by the improved gross profit generation and gross margins over the following quarters. I'm glad to report exactly that with gross margin of 30% in Q3, and this was stable from the 29% that we reported in Q2. Gross margin is expected to be somewhat lower in Q4, driven by seasonally lower crew utilization in addition to our transit and mobilization for the large contract that we won in Asia. For Q3, SG&A came in at, as expected, at $5.5 million through tight cost control. As a reminder, SG&A in Q2 was very low at $2.5 million due to the loan forgiveness of $3.6 million from the COVID-19 support program in the U.S. Total SG&A for the first three quarters is $15.4 million. We have previously guided for full year 2021 SG&A costs at or below $25 million. Provided that we reach our 2021 performance target. We might see performance bonuses and some other backloaded costs temporarily lift the cost level in Q4, and we therefore now say at or slightly above $25 million for the full year in SG&A. Summing up on the EBITDA level, we report an EBITDA for Q3 of $19.7 million, up from $14.3 million in Q2, and up from $10.4 million in the third quarter last year. This is the highest quarterly level that we have seen over the past couple of years, and we have already been through the issues supporting the higher earnings. Looking ahead, we expect EBITDA to be lower in Q4, driven by seasonally lower gross profit generation in the fourth quarter and some backloaded performance-related SG&A costs. Please note that EBITDA in Q4 could also be positively impacted by potential late sales as multi-client data are ready for delivery in Q4, as pointed out earlier. CapEx came in at $1.4 million, excluding the multi-client investments for Q3. Total CapEx for the first three quarters is $5.8 million, which represents a balanced spend between sustaining CapEx and growth-related CapEx, including our investments in equipment for our renewables business. We have previously guided for full year 2021 CapEx at or below $15 million, but we now see that we can support our backlog for the rest of this year with a lower CapEx spend. Therefore, we update our CapEx guidance to be below $15 million for the full year. Here are the key figures summarized for you on both an IFRS basis as well as on a segment basis. Just a brief note on the P&L below the EBITDA line. Depreciation and amortization amounted to $15.6 million in Q3, the same figure as in Q2, and we are glad to report a small net profit of $0.6 million for the quarter. As communicated during our second quarter presentation, we have had excellent support from DNB and secured a temporary increase in our revolving credit facility from $30 million to $45 million and extended the RCF by one year to December 2023, both done in July. Now in October, we have agreed with DNB to permanently amend our equity ratio covenant from 50% to 40%. This has been done solely to accommodate the fluctuations we experience in working capital as customer projects ramp- up and are completed. Overall, I'm very happy with the sound financial standing of the company with the activity outlook that we see for Q4 and for 2022. Turning to the cash flow for the quarter, we had cash flow from operating activities of -$6.6 million. As this illustration shows, that figure includes the expected negative working capital changes of $26.2 million from the ramp-up of customer projects. Operating cash flow, excluding working capital changes, was positive by $19.6 million from the high crew activity level. Net investments amounted to $2.9 million from CapEx plus our share of processing investments for multi-client. The financial outflow of $5.8 million in the quarter covers our lease payments and debt interest costs. As a result of this, we had $26.2 million in cash at the end of Q3. As mentioned, our financial flexibility was strengthened further with the temporary RCF increase in July from $30 million to $45 million for the remainder of 2021, bringing available cash to $41.2 million. As I have repeatedly mentioned over the quarters, we have expected our net working capital to gradually normalize over the past year. As I said during our Q2 presentation, our working capital needs would increase in Q3. As you can see, it's done exactly that, up to $13 million. This large increase was driven almost exclusively by increase in trade receivables and unbilled revenue, both from ongoing customer projects, and these are temporary in nature until they convert into cash holdings later this year. Our financial forecast currently shows that working capital will stabilize in Q4 back to an almost neutral level. This movement in working capital has already improved our cash balance level for Q4, and the cash balance is forecasted to continue to improve into the new year. The total balance sheet development is relatively stable in the quarter, with higher current assets driven by the temporary higher trade receivables, offset by a temporary lower cash balance. We have no debt installments due in 2021, and our debt ratio remains very low at below 10% of total assets in Q3. The equity ratio remains stable at 56%, and we are in compliance with all debt covenants on our RCF with DNB yet again, as you should expect. As most of you are aware, it was announced on August 31st that I'll be leaving Magseis Fairfield as CFO in December. This is my last quarterly presentation here, and I wanted to leave you with a couple of reflections. When Carel and I came on board in the autumn of 2019, the company was in dire need of change and improvement. We needed to restructure the business and establish a clear action plan to restore profitability and rebuild a healthy business. Our new financial management model, combining better operational execution with tight cash cost control, has enabled us to improve our EBITDA almost quarter- by- quarter to a level of around $20 million that we report for Q3. Our market has been very challenging over the past year, as you know, and while our revenue outlook for 2021 is almost half from that of 2019, we will have more than doubled EBITDA in absolute dollars generated over the same period. I'm glad that the company is performing well and now is financially solid. I have full confidence in the Magseis Fairfield management team will succeed with what I consider to be the two most important priorities, namely, number one, to continue reducing the cost per square kilometer through technological innovation, and secondly, to build a healthy renewables business. With that, I'll hand it back to you, Carel, to talk about the market and strategic development going forward. Thank you, Mark. Before I continue, I wanted to take the opportunity to thank you, Mark, for all you've done for Magseis Fairfield. We joined around the same time, and we can look back at a successful turnaround of the company. It has been a tremendous team effort, and I want to thank you and wish you all the very best for the future. Let's now look at the market and strategic development. So far this year, we have been awarded $240 million in new contracts. Looking at next year, the visibility has improved, and we see additional opportunities. We are seeing a 15% market growth year-on-year when looking at the total number of acquisition months. Activity in the Gulf of Mexico, North Sea, and Middle East is stable, while we see growth in South America and Asia. Following the recent contract awards, 52% of the visible projects for execution in 2022 have been awarded. Key opportunities remain in Europe, the Americas, and Asia. Tendering activity for 2022 has increased throughout the quarter, and Magseis Fairfield continues to be well-positioned to secure further market opportunities. Looking at the market from a high level, we continue to see a promising outlook. The graph shows the global offshore upstream CapEx as forecast by Rystad Energy. As oil and gas demand is returning to pre-COVID levels, the effects of the pandemic and the underinvestments are becoming evident in the energy market. The demand is expected to grow further as travel volumes increase. The full investment cycle from exploration to production is too long to address the short to medium-term supply needs. It is also too long to meet the long-term return requirements as the global energy mix changes as a consequence of the energy transition. The graph clearly shows this. Pure exploration spend is forecast to stay muted going forward, with focus being on infrastructure-led exploration instead of frontier. This market development is what makes the strategic collaboration with PGS for the hybrid market very relevant. It not only gives us access to the towed streamer 4D market by adding nodes to these surveys and sharing in the value creation in this part of the market, but it also allows us to offer new solutions in the exploration market. As mentioned, the traditional way of doing exploration from 2D to drilling exploration wells, acquiring 3D towed streamer, and then drilling appraisal wells is simply too long and no longer meets the commercial criteria from our customers to sanction exploration projects. By offering the hybrid solution where we acquire streamer and node data at the same time early in the exploration cycle, we can offer better data early to our customers. This will allow them to make better-informed decisions and shorten the exploration cycle. This may make some projects economical for our customers and allow them to sanction them. We are therefore excited about this hybrid market opportunity. This now brings me to the brownfield and greenfield market development. With the tightening of the oil and gas markets and increase in commodity prices, our customers are experiencing strong cash flow generation. The commitment by our customers to the energy transition means that their oil and gas assets are being used to generate cash for renewables investments while maintaining capital discipline on their oil and gas spend. We believe that the need for increased oil and gas supply in the short to medium term will translate into investments in increased recovery rates from already explored assets. This provides lower carbon barrels that can be delivered quickly to the market with attractive payback on investments. These investments will naturally include OBN projects, which form the basis for the company's increasingly optimistic outlook for a market recovery for OBN services in 2022 and beyond. The graph again clearly shows this with high and growing spend in brown and green fields. To fully benefit from this outlook, Magseis Fairfield's continued technology leadership is key to capture growth opportunities. We therefore recently launched the first OBN technology platform called Echova. Currently, OBN systems are, to a large degree, limited to the acquisition phase. While Magseis Fairfield will continue to lead in this acquisition space, the true value will be unlocked when we expand our offering to include the complete customer workflow from planning to acquisition to imaging. This is precisely what the Echova platform does. Echova is the first OBN platform, and our ambition is to revolutionize the integration of technology and workflows through the seismic value chain. The Echova platform is different in that it creates a collaborative work environment with our customers that encompasses the total OBN workflow from engagement to decisions. The Echova platform will provide value to our customers with better data, faster, more sustainable, and at a reduced project cost. This will ultimately allow our customers to make better, more informed, and faster data-driven field development decisions, and therefore truly unlock the value of their OBN data. Echova also addresses the changes which our customers have made to their organizations. They've restructured, and the remaining organizations are now looking after both oil and gas and renewables projects. The resulting reduced bandwidth provides an opportunity for Magseis Fairfield. Through the Echova platform and the early collaborative engagement during the planning phase, we can offer the solutions and value our customers are looking for. The Echova platform further extends the Magseis Fairfield leadership in technology development, and we are excited about the launch of the Echova platform and the possibility to grow existing markets, open new markets, and improve profitability going forward. We are planning a phased deployment of the total system. I will highlight here what we are doing in 2021 and what we are going to do in 2022. From a planning perspective, we intend to launch the planning collaboration portal during H2 of 2022. As highlighted before, our clients have made a lot of changes to their organizations. While this has reduced their bandwidth, the collaboration portal enables easy and quick engagement during the planning phase, allowing us to offer the solutions and value our customers are looking for. The first Echova nodes will come out of engineering in H1 of 2022 and will be deployed on one of our crews. This will be followed by a full crew deployment scheduled for H2 of 2022. We are in active discussions with clients to plan the deployment of the Echova nodes. In the imaging phase, we already made a head start where some of our onboard processing crews have already been moved off the vessels and are now performing their work in an onshore data conditioning center. This will continue and be extended in 2022. All in all, we are excited about the launch of Echova and how this will provide value to our customers and ourselves. This brings me to the summary and outlook. We will continue to use our asset-light model and technology differentiation to capture 2022 market opportunities. We delivered a solid Q3 financial performance. Our focus remains on safe, efficient, and reliable execution of project backlog, and securing new projects for 2022 remains a key priority. We continue to successfully execute our renewables strategy. As part of that, we acquired a renewables pilot project and are tendering for new projects. Last but not least, we will execute the Echova platform rollout plan. This concludes our prepared remarks. Operator, can you please start the Q&A? Thank you very much, sir. Ladies and gentlemen, if you would like to ask a question over the phone at this time, please signal by pressing star one on your telephone keypad. Please note, if you're using a speakerphone, just to make sure your mute function is turned off to allow your signal to reach our equipment. Once again, that is star one to ask a question over the phone today, and we'll pause for just a brief moment to give everyone an opportunity to signal for questions. Just to confirm, Mr. Hooijkaas, we're receiving no questions over the phone at this time, sir, so I would like to turn the conference back over to yourself for any additional closing remarks. Excellent. Thank you very much. I would like to thank you for listening in, today. We delivered a very solid Q3 financial performance, and we continue to look ahead into 2022 to secure the key contracts for our continued success going forward. Included in that is the execution of our renewable strategy and the rollout of our Echova platform. Thank you for listening in today.
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