PGS : The spectre of further restructuring
>Underperform rating maintained (target price of NOK 2.6 vs NOK 3.6) - PGS’ 2021 results were in line with expectations, although it acknowledges that it will not be in a position to meet the repayment maturities for its debt in 2022. Inadequate cash flow generation following the slump in exploration spending among its clients has placed the issue of PGS’ debt burden back in the spotlight. Despite the sell-off (close to 40%) and a sharp underperformance YTD (-26% vs +...Petroleum Geo-Services is engaged in providing geophysical services and oil and gas production services. As of Dec. 31, 2001, Co. operated six Ramform design vessels in its marine seismic data acquisition operations.
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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