CGG Announces its Q3 2021 Results

Paris, France | Nov 3, 2021

Solid Q3 quarterly performance
Segment Revenue at $270m, up 35% year-on-year
and Segment EBITDAs at $118m, more than doubled year-on-year

CGG (ISIN: FR0013181864), a world leader in Geoscience, announced today its third quarter 2021 non-audited results.

Commenting on these results, Sophie Zurquiyah, CGG CEO, said:

“I am encouraged by our Q3 results and more importantly by the signs of the gradually increasing demand for our core businesses, supported by the strengthening macro-environment. Our differentiated products and services remain fundamental to solving our client’s challenges in complex sub-surface environments, addressing their digitalization needs and reducing their environmental footprint.

Beyond the core, we are developing and commercially progressing a growing portfolio of business opportunities targeting digital geoscience, energy transition, environmental geoscience, and infrastructure monitoring. These opportunities leverage our leadership technology positions in sophisticated algorithms, high performance computing, earth subsurface data base and sensors, all of which provide new growth for the company”.

Q3 2021: A solid performance

• IFRS figures: revenue at $210m, EBITDAs at $58m, OPINC at $20m
• Segment revenue at $270m, up 35% year-on-year and up 71% sequentially
  • Geoscience segment revenue at $77m, stable year-on-year and up 5% sequentially.
  • Multi-Client segment sales at $92m, up 26% year-on-year and up 149% sequentially.
  • Equipment segment sales at $101m, up 105% year-on-year and up 113% sequentially.
• Segment EBITDAs at $118m a 44% margin and Adjusted* Segment EBITDAs at $118m,
• Segment Operating Income at $33m and Adjusted* Segment Operating Income at $33m
• Group Net Loss at $(17)m 
• Net Cash Flow at $(34)m.

More:

Download Full Press Release (PDF, 220 KB, 20 pages)

Download Presentation (PDF, 7.3MB, 25 pages)

Q3 2021 Conference call

An English language analysts’ conference call is scheduled today at 6:30 pm (CET)

To follow this conference, please access the live webcast:

A replay of the conference will be available via webcast on the CGG website at: www.cgg.com.

For analysts, please dial the following numbers 5 to 10 minutes prior to the scheduled start time: