Argeo AS ( (DE:8W20) ) has issued an update.
Argeo AS reported significant growth in 2024, with full-year revenues increasing by 430% to USD 53.5 million. Despite a challenging Q4 with a net loss of USD 8.5 million, the company expanded its market presence, launched innovative products, and secured key contracts, including a 5-year agreement with Total Energies and an 8-year agreement with Staatsolie. Argeo’s strategic moves into new markets and expanded service offerings have reinforced its position as a rising industry challenger, with a strong backlog of USD 190 million and opportunities in the deep-water market, particularly in West Africa and South America.
More about Argeo AS
Argeo AS is a comprehensive subsea service provider operating in the Oil & Gas, Marine Minerals, and Renewables sectors. The company offers a unique package that integrates robust vessels, autonomous underwater vehicles (AUVs), advanced sensors, digital imaging technology, and an intuitive digital platform for data visualization. Founded in 2020, Argeo has established offices in Asker, Edinburgh, Houston, and Rio de Janeiro, and is listed on Euronext Oslo Børs under the ticker: ARGEO.
YTD Price Performance: 21.39%
Average Trading Volume: 1,000
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €30.22M
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