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TGS Energy starts with us . TGS EARNINGS RELEASE 3rd QUARTER 2021 RESULT 3rd QUARTER 2021 FINANCIAL HIGHLIGHTS IFRS ( all amounts in USD 1,000 unless specified otherwise ) Operating revenues Operating profit ( EBIT ) · Operating profit margin Net income EPS ( fully diluted ) ( USD ) Organic multi - client investments in new projects Inorganic multi - client investments Amortization and impairment of multi - client library Multi - client library net book value Free cash flow ( after multi - client investments ) Q3 2021 199,778 Cash balance Return on average capital employed² Segment reporting³ ( all amounts in USD 1,000 unless specified otherwise ) Operating revenues Pre - funding revenues - Late sales Proprietary revenues EBITDA Operating profit Operating profit margin Amortization and impairment of multi - client library Multi - client library net book value Pre - funding rate Return on average capital employed² Q3 20201 35,554 18 % 19,126 0.16 58,232 -89,661 YTD 2021 YTD 20201 457,380 89,338 176,556 -244,519 -154 % 20 % -138 % -70,264 -0.60 49,726 -178,573 0.42 -1.53 56,299 53,911 125,519 269,616 0 0 127,032 800,535 5,679 198,120 125,465 1,061,983 4,484 179,819 5,000 276,096 800,535 107,931 198,120 15,000 320,715 1,061,983 -4,375 179,819 4 % -15 % 4 % -15 % Q3 2021 Q3 20201 YTD 2021 YTD 20201 60,937 80,551 189,375 328,459 22,402 17,383 61,814 138,605 33,322 60,658 113,970 178,417 5,213 2,510 13,590 11,437 28,473 62,228 111,931 244,077 -27,746 -27,932 -72,326 -130,915 -46 % -35 % -38 % -40 % 51,490 584,465 86,055 763,192 169,755 584,465 359,014 763,192 40 % 32 % 49 % 51 % -12 % -6 % -12 % -6 % " The market conditions for multi - client seismic data continue to be challenging . E & P companies ' 2021 budgets do not allow for much spending beyond what was committed at the start of the year , meaning that the recent oil price increases so far have had little impact on spending levels . However , with the increasing oil price combined with low cost of exploration related services , the value proposition of exploration is approaching all - time - high levels , and we are starting to see some early signs of a recovery , " says Kristian Johansen , CEO of TGS . " I'm pleased with the progress seen in our New Energy Solutions business , where we expect to generate approximately USD 10 million of pro - forma revenues this year . " 1 Foreign exchange losses have been restated with USD 0.9 million in Q3 2020 and with USD 29.0 million YTD Q3 2020. Refer to note 2 of the interim financial statements for more details . 2 12 months trailing . 3 Revenues of projects in progress recognized on a Percentage of Completion basis . Please refer to note 4 of the interim financial statements for more details . TGS | Q3 2021 EARNINGS RELEASE 1