A record quarter for Argeo, 258% revenue increase and strong order book

May 11, 2023 | News

Asker, 11.05.2023 – We have put a strong first quarter behind us with a 258% growth in revenues from NOK 6.9 million in Q1 2022 to NOK 24.7 million, and a record high order book, says Argeo CEO, Trond Crantz.

The strong revenue growth in Q1 2023 was driven by the successful completion of deep-water project with Argeo Searcher and both SeaRaptors in the North Atlantic, as well as commercial work done by the Hugin 6000, which began in September.

– We are pleased with the strong revenue growth in Q1 2023, which reflects the successful execution of our adjusted strategy, says Argeo CEO, Trond Crantz. Our deep-water survey capabilities and the completion of our vessel, Argeo Searcher, have been instrumental in driving growth, and we remain optimistic about the company’s future prospects. Our order book is nearly fully booked for 2023 and we expect to generate positive cash flow from our operations in Q3, Crantz continues.

Q1 REPORT & PRESENTATION

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