PARIS (Agefi-Dow Jones) – The oil services group CGG announced on Monday that its turnover from activities is expected to be “around $ 941 million” for 2021, after increasing 12% year on year in the fourth quarter.
According to preliminary data, business revenue is expected to be around $ 301 million in the fourth quarter, up 15% sequentially, CGG said in a statement. The comparisons are calculated on a pro forma basis, excluding GeoSoftware, which was sold last October.
The group also forecasts a positive net cash flow of approximately $ 15 million, excluding debt refinancing costs which amount to $ 40 million.
“The sale and leaseback operation of the Galileo building, CGG’s head office, has been postponed to 2022 and is scheduled to be finalized in the first half of the year,” added the group.
At the end of December 2021, CGG expects net debt, before accounting for IFRS 16, of around $ 865 million and cash of around $ 320 million. At the end of September, net debt stood at $ 987 million and cash at $ 340 thousand.
The group will publish its results for the fourth quarter and full year 2020 on March 3 after market close.
-Alice Doré, Agefi-Dow Jones; +33 (0) 1 41 27 47 90; [email protected] ed: VLV
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January 10, 2022 01:57 ET (06:57 GMT)