CGG: higher net loss in Q1.

(CercleFinance.com) - For its first quarter of 2017, CGG has reported a net loss of 145 million euros, with a group operating loss of 67 million dollars, against respectively -130 million dollars and -81 million dollars in Q1 2016.


At 29 million dollars, the geophysical study group's EBITDA was roughly stable year-on-year in a quarter that is traditionally weak, with sales down about 20% at 249 million dollars.

"We confirm for 2017 our vision of operating results in line with 2016 with downward pressure on cash flow generation," said CGG's CEO Jean-Georges Malcor.

Note that CGG shares have been suspended from trading until 3.30 pm today.


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