CGG: CGG Anticipates Q3 2019 Segment Revenue above $350m and Upgrades its 2019 Financial Objectives

CGG Anticipates Q3 2019 Segment Revenue above $350m and Upgrades its 2019 Financial Objectives

Paris, France – September 2, 2019

CGG announced today that its third quarter 2019 segment revenue is expected to be above $350m, based on strong multi-client sales in the range of $160m (including transfer fees) and steady demand for Geoscience technology and Equipment.

Based on these estimates and considering current solid commercial outlook, CGG is raising its full-year 2019 guidance. The Company's 2019 segment revenue is expected to increase by more than 10% year on year with segment EBITDAs margin around 50% and segment operating income around $200m.

As a result, CGG is expecting to generate positive Net Cash Flow this year, for the first time since 2012.

About CGG

CGG (www.cgg.com) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation.

CGG employs around 5,100 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.

CGG is listed on the Euronext Paris SA 0013181864

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• CGG - Press Release pdf version