Argeo’s second quarter revenue increased by 173%

Aug 31, 2023 | News

Asker, 31.08.2023 – We have put another strong quarter behind us with a 173% revenue increase from NOK 9.3 million in Q2 2022 to NOK 25.4 million in Q2 2023, and a continuously growing orderbook says Argeo CEO Trond F. Crantz.

The revenue growth in Q2 2023 was driven by the deep-sea mineral surveys for the Polish Geological Institute – National Research Institute (PGI-NRI) and the Norwegian Petroleum Directorate (NPD), in addition to revenues created by the Hugin 6000 AUV which started commercial work on a long-term contract in September 2022.

– We are pleased with the strong revenue growth in Q2 2023, which continues to reflect the successful execution of our adjusted strategy, says Argeo CEO, Trond F. Crantz.

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