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Viridien reports recurring developments for an advanced technology, digital and Earth data company serving natural resource, digital, energy transition and infrastructure markets. Company updates commonly cover quarterly and annual results, cash generation, segment performance, capital expenditure, working capital, and the contribution of Geoscience and Earth Data activities.
News also tracks deleveraging actions, bond redemptions, senior secured notes, credit-rating updates, and regulated French market disclosures. Recurring governance and capital-structure notices include AMF voting-rights and share-count publications, Universal Registration Document filings, corporate governance reporting, and sustainability-information certification.
Viridien S.A. has successfully priced a dual-currency senior secured notes offering, comprising US$450 million at 10% due September 2030 and €475 million at 8.5% due 2030. The notes, to be issued on March 25, 2025, will be guaranteed by certain subsidiaries and accompanied by a new US$125 million super senior Revolving Credit Facility.
The proceeds will be used to redeem existing senior secured notes due 2027 worth US$447 million and €579 million. All three credit rating agencies have taken positive rating actions, with Moody's, S&P, and Fitch upgrading their ratings to B2, B, and BB- respectively.
This refinancing represents a key milestone in Viridien's financial strategy, following $60 million in bond buybacks in 2024. The company aims to maintain liquidity through the increased RCF, a cash balance of around US$100 million, and extended debt maturity profile while continuing to deleverage its capital structure through excess cashflows.
Viridien S.A. has launched a significant debt refinancing initiative on March 10, 2025, offering senior secured notes due 2030 worth approximately US$950 million in both USD and EUR denominations. The notes will be backed by guarantees from certain Viridien subsidiaries on a senior secured basis.
The company has additionally secured commitments for a US$125 million revolving credit facility (RCF), which will share the same collateral as the notes but with super senior status. The proceeds from this offering, combined with existing cash reserves, will be used to fully redeem the company's existing senior secured notes due 2027, which consist of US$447.4 million and €578.6 million in principal amounts.
Viridien has announced the filing of its 2024 Universal Registration Document with the French Financial Markets Authority (AMF) on March 6, 2025. The document was submitted in European Single Electronic Format (ESEF) and contains several key components including the annual financial report, Board of Directors' governance report, share buyback program details, statutory auditors' reports, and management report with Sustainability and Taxonomy information.
The document is now publicly accessible through Viridien's website in the investors/regulated-information section and on the AMF's website.
Viridien, a French company, has released its monthly disclosure regarding voting rights and shares as required by French regulatory authorities. The company, headquartered in Massy, France with a share capital of €7,161,465, confirms that all shares carry equal voting rights, with two exceptions:
1. Treasury shares which carry no voting rights
2. Registered shares held for more than two years which carry double voting rights
This disclosure is made in compliance with Article L. 233-8 II of the French Commercial Code and Article 223-16 of the AMF (French Financial Markets Authority) regulations.
Viridien reported strong 2024 financial results with overall stable group revenue of $1,117 million. Digital, Data & Environment (DDE) segment showed robust growth with revenue reaching $787 million (+17%), while Sensing & Monitoring (SMO) revenue decreased to $330 million.
Key financial highlights include:
- IFRS revenue: $1,211 million
- EBITDA: $516 million
- Net Income: $51 million
- Net Cash Flow: $56 million
- Net Debt: $921 million
The company exceeded its profitability and cash generation targets, driven by strong commercial successes in Geoscience (+20% revenue growth) and Earth Data (+14% revenue growth). New Businesses achieved 33% revenue growth, exceeding the 30% target. For 2025, Viridien targets approximately $100 million in net cash flow generation and confirms its focus on balance sheet deleveraging.
Viridien and Matnex have announced a strategic partnership to accelerate AI-powered materials discovery. The collaboration aims to scale Matnex's computational capacity for discovering and producing innovative materials, particularly focusing on technologies essential for the net-zero transition in energy generation, storage, transport, and sustainable computing.
Through Viridien's Outcome-as-a-Service model and AI/HPC expertise, the partnership will industrialize Matnex's innovation pipeline, targeting the highest throughput of new material discoveries globally. Dr. Jonathan Bean, Matnex CEO, emphasized the partnership's transformative potential in materials science, while Chris Page, Viridien's EVP of New Business Development, highlighted how their HPC & Cloud Solutions teams will help achieve faster, more accurate results with lower R&D costs.
Viridien has scheduled the release of its Fourth Quarter and Full Year 2024 financial results for Thursday, February 27, 2025, after market close. The company will publish the press release and presentation on their website at 5:45 pm (CET). An English-language analysts conference call will follow at 6:00 pm (CET). Interested participants can register to receive dial-in details or join via webcast. A replay of the conference call will be available on the company's website for 12 months following the event.
Viridien has released its monthly voting rights and shares report as of January 31, 2025, in accordance with French regulatory requirements. The company reports a total of 7,161,465 issued shares with 7,186,734 actual voting rights and 7,186,983 theoretical voting rights.
The difference in voting rights is due to the company's share structure, where registered shares held for more than two years benefit from double voting rights, while treasury shares are excluded from voting rights. The theoretical voting rights calculation includes all shares, including treasury shares, as per Article 223-11 of the French Financial Markets Authority regulations.
Viridien has secured a three-year contract from Petroleum Development Oman (PDO) to provide advanced land seismic imaging services at its dedicated processing center in Muscat, Oman. The contract extends an existing partnership between the companies.
The Muscat center, Viridien's largest dedicated processing center globally, will deploy proprietary algorithms to enhance PDO's seismic data quality. The project will address challenges including complex near-surface conditions and strong multiples through high-resolution velocity model building and elastic full-waveform inversion.
The scope includes managing increased data density, developing land 4D monitoring, and strengthening synergies between seismic imaging and reservoir characterization. Viridien's HPC & Cloud Solutions team will provide high-performance computing capacity to support advanced workflows. The company maintains its commitment to In-Country Value initiatives in Oman, focusing on talent development and education through university partnerships.
Viridien reported its full-year 2024 financial update, achieving revenue and EBITDA slightly above $1,100 million and $430 million respectively, in line with guidance. The company generated net cash flow of approximately $50 million, significantly exceeding its initial target of $30 million, while reducing net debt to around $930 million.
Key achievements include doubling their bond buyback commitment to $60 million, receiving an improved credit rating from S&P to B-, and extending their revolving credit facility until October 2026. The strong performance was driven by the Data, Digital & Energy Transition (DDE) segment, particularly in Geoscience activities and the Laconia project in the Gulf of Mexico.
The company reaffirmed its 2025 target of generating approximately $100 million in net cash flow, supported by strong Geoscience activity, project pipeline, and benefits from the Sensing & Monitoring restructuring. Full audited results will be announced on February 27, 2025.