Report
Baptiste Lebacq

CGG : 2022 : les nombreux décalages pèsent et en font une année de transition

>Opinion Neutre inchangée (OC 0.95 €) - Nous maintenons notre recommandation Neutre sur le titre (OC 0.95 €), et avons post publication ajusté à la baisse nos attentes sur 2022 (post 2022 changements à la marge avec un EBITDA en repli en moyenne de 3% sur 2023/24). Une nouvelle fois, les décalages pèsent sur la dynamique du groupe alors que la thématique de l’Energy Security est une priorité. La remontée du baril devrait dans un premier temps bénéficier aux proje...
Underlying
CGG
CGG

CGG is a global participant in the geophysical seismic industry. Co. manufactures geophysical equipment and provides marine, land, and airborne data acquisition services. Co. also provides geosciences services, including data imaging, seismic data characterization, geosciences and petroleum engineering consulting services, and collecting, developing and licensing geological data. Co.'s clients are in oil and gas exploration and production industies. Co. divides its activities into four segments: Equipment, Contractual Data Acquisition, Geology, Geophysics and Reservoir (GGR), and Non-Operated Resources, including eight business lines, six Corporate functions, and four Group Departments.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Baptiste Lebacq

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