CGG: reports growth in sales and EBITDA
(CercleFinance.com) - On Thursday morning the geophysical study group reported a significant increase in its Q1 2018 sales to 294.
7 million dollars (vs. 249.4 million dollars over the same period in 2017, representing growth of +18%).
EBITDA also increased from 29 million dollars to 53 million dollars (+85%), with the group's EBITDA margin rate reaching 18% (vs. 11.5% in Q1 2017).
"These results continue to confirm an upward trend initiated in 2017 that is bringing improved volumes to GGR and Equipment. Contractual Data Acquisition activities remain challenged by low demand and deteriorated price conditions," said CGG's CEO Sophie Zurquiyah.
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7 million dollars (vs. 249.4 million dollars over the same period in 2017, representing growth of +18%).
EBITDA also increased from 29 million dollars to 53 million dollars (+85%), with the group's EBITDA margin rate reaching 18% (vs. 11.5% in Q1 2017).
"These results continue to confirm an upward trend initiated in 2017 that is bringing improved volumes to GGR and Equipment. Contractual Data Acquisition activities remain challenged by low demand and deteriorated price conditions," said CGG's CEO Sophie Zurquiyah.
Copyright (c) 2018 CercleFinance.com. All rights reserved.