CGG Returns to Profitability - Africa’s premier report on the oil, gas and energy landscape.

CGG Returns to Profitability

For the first time since 2012, CGG will be back to black in 2019 and anticipates a positive Net Cash Flow around $185Million, the company says in a release.

The largest Geophysical Acquisition firm in the Western Hemisphere says it anticipates year-end 2019 Net Debt to be around $584Million. The Group’s Liquidity is expected to be at $611Million at the end of December 2019.

The Multiclient market have helped CGG out of the red, more than any other segment of the business, “CGG anticipates segment Multi-client sales around $166Million for the fourth quarter of 2019 after an exceptional third quarter 2019”, the release explains. “After-sales are expected to be around $96Million.

CGG will announce its 2019 financial results on March 6 2020, before the opening of the Paris stock exchange.


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