CGG: back to black in 2022
(CercleFinance.com) - Geosciences group CGG has announced a net profit of 43 million dollars for 2022, compared with a net loss of 180 million dollars in 2021, as well as an adjusted operating profit from operations up 88% to 147 million dollars, or a margin of 16%.
Adjusted EBITDAs from operations increased by 17% to 395 million dollars, or a margin of 43%, on revenues from operations of 928 million dollars, down 1%, although stable on a pro-forma basis (adjusted for the Geosoftware and SDS businesses divested in 2021).
With a backlog of 442 million dollars as of 31 January 2023, up 44% y-o-y, CGG expects its adjusted EBITDA margin for 2023 to be around 39% to 41%, with revenues from operations increasing by around 15% to 20%.
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