Report
Jean-François Granjon

CGG : Update de notre séquence bénéficiaire - Objectifs du plan confirmés

>Un ROC 2019 > 200 M$ - Révision en hausse des objectifs 2019 suite à un excellent T3. Lors de la publication des résultats T3 (cf. notre commentaire du 6 novembre 2019), le groupe a confirmé une bonne dynamique d’activité et une bonne génération de FCF. Le groupe a plus particulièrement bénéficié d’après-ventes soutenues (125.1 M$ vs 62.9 M$ YoY) en raison entre autres de commissions de transfert non récurrentes pour un montant voisin de 40/50 M$. Au global, l’activi...
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
Jean-François Granjon

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