CGG : La bonne stratégie mais le temps s’écoule
Malgré un EBITDA plus faible qu’attendu, CGG a été capable de générer un FCF positif en 2023. La dynamique dans l’industrie pétrolière reste positive ce qui devrait permettre à CGG d’améliorer sa performance opérationnelle en 2024 et 2025. Cependant, l’accent reste mis sur sa capacité à générer du FCF de manière régulière et significative. Si la stratégie et les objectifs visés par la direction nous semblent être les bons pour refinancer les obligations 2027, nous considérons que...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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