CGG: raises FY 2019 targets
(CercleFinance.com) - CGG announces that its revenue from operations in Q3 2019 is expected to exceed 350 million dollars, thanks to strong multi-client sales of around 160 million dollars and sustained demand for geoscience and equipment.
Based on these estimates and taking into account roubust commercial activity, the group has raised its financial targets for 2019. Thus, sales from its businsses should increase by over 10% y-o-y.
The group expects an EBITDA margin of around 50%, with a 2019 operating profit of around 200 million dollars. As a result, CGG expects positive net group cash flow in 2019, which is the first time it will have generated positive cash over a year since 2012.
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Based on these estimates and taking into account roubust commercial activity, the group has raised its financial targets for 2019. Thus, sales from its businsses should increase by over 10% y-o-y.
The group expects an EBITDA margin of around 50%, with a 2019 operating profit of around 200 million dollars. As a result, CGG expects positive net group cash flow in 2019, which is the first time it will have generated positive cash over a year since 2012.
Copyright (c) 2019 CercleFinance.com. All rights reserved.