CGG upgrades 2019 financial objectives on strong seismic data sales
PARIS - CGG announced that its third quarter 2019 segment revenue is expected to be above $350 million, based on strong multi-client sales in the range of $160 million (including transfer fees) and steady demand for Geoscience technology and equipment.
Based on these estimates and considering current solid commercial outlook, CGG is raising its full-year 2019 guidance. The Company's 2019 segment revenue is expected to increase by more than 10% year on year with segment EBITDAs margin around 50% and segment operating income around $200 million.
As a result, CGG is expecting to generate positive net cash flow this year, for the first time since 2012.
