Solid cash generation and continued deleveraging in a soft market environment
- Net Cash Flow generation of $26m compared to -$20m in Q1 2025, driven by disciplined cash management and efficient receivables collection
- Further reduction in Net Debt (excluding IFRS 16) to $702m vs $735m at end-December 2025, with an additional $40.7m repaid in March on the USD-denominated bond tranche
- Segment revenue of $214m, reflecting a slow start to the year as anticipated, with additional uncertainty stemming from the ongoing conflict in the Middle East, impacting SMO and GEO
- Profitability reflecting lower revenue, with segment adjusted EBITDAs of $76m
- FY 2026 guidance for Net Cash Flow generation of $100m, with a seasonal profile similar to 2025, reiterated
Sophie Zurquiyah, Chair and CEO of Viridien: “As expected, we experienced a soft start to the year, due to increased caution from E&P companies in recent months. The situation in the Middle East added further uncertainty, notably for Sensing & Monitoring and Geoscience. In this context, we delivered solid cash generation, underscoring the strength of our asset-light model and disciplined cash management. We also continued to deleverage, allocating an additional $41m to bond repayment, reducing net debt to around $700m. We reiterate our Net Cash Flow objective of $100m for the full year 2026, with performance expected to be weighted towards the second half as in 2025.”
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Status of the Statutory Auditors’ procedures
The Board of Directors met on May 5, 2026, and closed the consolidated financial statements as of March 31, 2026. Please note that the figures and information published in this press release have not been audited nor subject to any limited review by Viridien’s statutory auditors.
Next financial information
2026 second-quarter results: July 30, 2026 (after market close)
About Viridien
Viridien (www.viridiengroup.com) is an advanced technology, digital and Earth data company that pushes the boundaries of science for a more prosperous and sustainable future. With our ingenuity, drive and deep curiosity we discover new insights, innovations, and solutions that efficiently and responsibly resolve complex natural resources, digital, energy transition and infrastructure challenges. Viridien employs around 3,200 people worldwide and is listed as VIRI on the Euronext Paris SA (ISIN: FR001400PVN6).
Disclaimer
Certain information included in this press release is not historical data but forward-looking statements. These forward-looking statements are based on current beliefs and assumptions, including, but not limited to, assumptions about current and future business strategies and the environment in which Viridien operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results or performance, or the results or other events, to be materially different from those expressed or implied in such forward-looking statements. These risks and uncertainties include those discussed or identified in Chapter 2 “Risk Management and Internal Control” of the Universal Registration Document dated April 2, 2026, filed with the French Financial Markets Authority (AMF) under number D. 26-0211 and available on the Group’s website (www.viridiengroup.com) and on the AMF website (www.amffrance.org). These forward-looking statements and information are not guarantees of future performance. Forward-looking statements speak only as of the date of this press release. This press release does not contain or constitute an offer of securities or an invitation or inducement to invest in securities in France, the United States, or any other area.
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