Viridien Reports a 40% Increase in Net Income for 2025 and Doubles its Cash Flow
The energy technology and data group Viridien announced its annual results for 2025 on Friday, marked by a significant strengthening of its net profitability and a dramatic acceleration in cash flow generation. This performance continues the financial transformation strategy that began in 2018.
Financial Highlights of 2025
Viridien recorded an IFRS net income of $71 million in 2025, up 40% from 2024. This increase occurred despite a 12% decline in consolidated IFRS revenue to $1,071 million, mainly reflecting accounting adjustments of $94 million related to IFRS 15 standard. These adjustments pertain to data acquisition projects carried out by the Earth Data division in the Gulf of America and Norway. The group generated a net cash flow of $107 million in 2025, nearly doubling the $56 million recorded in 2024 and exceeding the target set for the year at $100 million.
Debt Reduction Strategy
The surplus cash flow was fully allocated to debt reduction. Viridien repaid $97 million of outstanding bonds over the year, consisting of $43 million on the dollar-denominated tranche and $54 million equivalent on the euro tranche. The group also repaid $28 million in asset-backed financing. As of December 31, 2025, Viridien had a solid liquidity position including a revolving credit facility of $125 million. The group anticipates an additional generation of $100 million in net cash flow in 2026, assuming a comparable business environment, which will be entirely dedicated to further debt reduction.
Governance Changes Announced
On November 19, 2025, Viridien announced its intention to reinstate separate governance roles effective from the General Meeting on June 3, 2026. Sophie Zurquiyah, currently President and CEO, will become Non-Executive Chairman, thus ending her executive duties. Henning Berg, with 27 years of experience in the oil and gas services industry including several leadership positions at SLB, will be appointed the new CEO effective June 3, 2026. He will join the group on March 3, 2026, as Chief Operating Officer to ensure a structured transition.
