CGG: provides full year 2017 trading update
CGG (CGG)
US:NYSE Investor Relations:
cgg.com/investors
Company Research
Source: GlobeNewswire
CGG provides full year 2017 trading update Paris, France - January 16, 2018 Full-Year 2017 CGG Group Revenue was up 10% year-on-year, standing at $1,320 million compared to $1,196 million in 2016. Group Q4 revenue stood at $400 million, compared to $328 million in Q4 2016, as a combination of GGR at $256 million, Equipment at $116 million, Contractual Data Acquisition at $40 million and Elimination at $12 million. Within GGR, Multi-Client Q4 revenue was at $160 million, above expectations, while Equipment and Contractual Data Acquisition revenues were in line with our expectations. Thanks to the relatively good Q4 Multi-Client revenue, 2017 Group EBITDAs (before restructuring costs) should be higher than expected, showing an increase above 10%, instead of an expected stability compared to 2016 EBITDAs ($328 million), for a less favorable cash generation. Restructuring costs related to the Group industrial Transformation Plan and its financial restructuring are
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