CGG: the title in sight after provisional results – 10/01/2022 at 09:33


(CercleFinance.com) – CGG is up on Monday at the start of trading on the Paris Bourse after the publication of its preliminary results for the fourth quarter and the year 2021.

The specialist in geophysical services and equipment said this morning that the turnover of its activities should be around 301 million dollars in the fourth quarter.

This figure shows an increase of 15% in ‘proforma’ data (excluding GeoSoftware, currently being sold) on a sequential rate and of 12% over one year, still in ‘proforma’ data and excluding GeoSoftware.

Revenues were notably driven by the Geosciences segment, whose revenues are expected to be around $ 93 million over the past quarter, an increase of 37% on a pro forma basis and of 50% over one year.

For the whole of the 2021 fiscal year, the turnover of the activities should be around 941 million dollars, indicates the group of oil services.

In its press release, CGG said it expects positive 2021 net cash flow of around $ 15 million, excluding debt refinancing cash costs of $ 40 million.

The title of the oil services group gained 1.2% after 30 minutes of trading, signing one of the best performances of an SBF 120 index down 0.4%.



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