CGG: segment EBITDAs up 40% in Q1
(CercleFinance.com) - CGG has reported a Q1 2019 net loss of 30 million dollars, against a profit of 647 million dollars a year ago, while EBITDAs of segments reached 119 million dollars, up 40% year-on-year.
The geoscience group posted a 21% increase in revenue from operations at 282 million dollars, supported by strong equipment sales and a growth in offshore exploration-production investments.
"CGG has delivered a first quarter in line with our expectations and, in the context of improving industry outlook, we confirm our 2019 guidance and 2021 targets," said CEO Sophie Zurquiyah.
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