CGG : A good strategy but the clock is ticking
Despite a lower-than-expected EBITDA, CGG was able to generate a positive FCF in 2023. Market conditions for the oil industry remain positive which should lead to an improvement in CGG’s operating performance in 2024 and 2025. However, the focus remains on CGG’s capacity to generate a significant positive FCF and on a recurrent basis. While the strategy and objectives set by the management seem to us to be on the right path to carry a refinancing of the 2027, we believe that 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.
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.
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