CGG : CGG Announces its 2018 Second Quarter Results
CGG (CGG)
US:NYSE Investor Relations:
cgg.com/investors
Company Research
Source: GlobeNewswire
CGG Announces its 2018 Second Quarter Results Q2 2018: solid segment EBITDAs in line with expectations IFRS figures1: revenue at $314m, OPINC at $26m, net income at $49m Segment revenue2 at $338m, down 3% year-on-year GGR: robust Subsurface Imaging & Reservoir (SIR) activity and Multi-Client driven by high after-sales partly offsetting lower prefunding Equipment: strong volume increase leading to breakeven Contractual Data Acquisition: continuing competitive market environment Segment EBITDAs2 at $110m, down 9% year-on-year, a 33% margin Segment operating income2 at $40m, versus $(3)m last year, supported by favorable Multi-Client sales mix and increase in Equipment sales Q2 operational highlights Multi-Client recorded large sales in North Sea and US onshore; activity in Brazil, Mozambique and Permian basin SIR activity driven by client reservoir/ production imaging and services, including nodes processing Equipment main sales no
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