CGG: Q1 revenues expected to fall by 3%

(CercleFinance.com) - CGG says that its revenues from activities should be around 273 million euros in the first three months of 2020, down 3% y-o-y, under the weight of a 25% drop in external sales from its equipment segment.


The geosciences group nevertheless anticipates positive net cash flow of 25 million dollars in Q1 2020, and at the end of March 2020, free cash of around 622 million dollars, with net debt of about 583 million dollars.

Believing that its financial targets for 2020 and 2021 are now no longer relevant, CGG intends to publish its updated targets for 2020 when it presents its Q1 results on 12 May.


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