Agenda CGGVeritas - Overview Sercel & Services Detail H1 2009 Update Outlook and Perspectives 2
CGGVeritas: A Full Range of Activities H1 2009 Sales: 1.6bn; EBITDAs: 0.5bn Equipment Services Sercel Marine Land Multi-client Processing & Imaging Industry leader Leading global fleet Unique position in Most recent Marine…
Market Overview 2009 E&P down around 15%, with sharp decrease in North America and 5-10 % international Seismic further impacted Equipment 25-30% Services 20% 4
CGGVeritas: Adjusting to Current Market Conditions Global cost reduction programs expected to bring 250m in savings, including a 15% reduction of marine costs by mid 2010 Reducing marine fleet from 27 to 20 vessels. Four in 2009 and…
Agenda CGGVeritas - Overview Sercel & Services Detail H1 2009 Update Outlook and Perspectives 6
A full range of highly sophisticated Seismic Equipment for the exploration and production of hydrocarbons in all environments 7
A Proven Strategy A full range of leading products Leading edge technology High level of R&D New products ahead of future seismic acquisition 428XL: Ready for high channel crews Sentinel: Ready for large spread, and…
A Full Range of Leading Products Land & TZ Marine & OBC Downhole - Acquisition systems & - Acquisition systems & - Acquisition & QC systems related QC software related QC systems - Downhole gauges - Geophones / hydrophones -…
Leader in Geophysical Equipment A proven strategy Remarkable history of growth Strong financial performance 65% (e) 62% 59% 57% 57% 54% 52% 1 209 49% 46% 46% 1 080 767 27% 18% 470 440 390 288 222 248 246 164…
Over 75 years of driving the advance of geophysics through technology innovation and integration to assist our clients, find reserves in new areas or improve oil recovery in known reservoirs 11
Uniquely Positioned to Meet Clients Needs Worldwide local presence Singular focus on the full spectrum of Geophysical Services A history of innovation leadership A track record of successes Exploration Delineation…
Industry Reference in Imaging Stavanger Calgary Oslo Aberdeen London Moscow Assen Massy Vienna Beijing Pau Milan Almaty Madrid Houston Tunis Cairo Al Khobar Tripoli Abu Dhabi Muscat Villahermosa Mumbai Ciudad del…
Most Recent and Well Positioned Library Well Positioned: Basin potential Proven system 3D: 22,140 sq km 3D: 40,000 sq New play emergence km Beneficial Regulations Stable E&P rules Good lease turnover N. Sea Exclusivity period…
History of Successes: Brazil (Santos) - Tupi Reservoir 15
Agenda CGGVeritas - Overview Sercel & Services Detail H1 2009 Update Outlook and Perspectives 16
H1 - Strong Financial Resilience with 12% Margin (In million dollars) H1 2009 H1 2008 % Change Revenue 1 630 1 747 -7% Operating Income before restructuring costs 199 335 -41% Operating Margin (%) 12% 19% Restructuring Costs…
H1 / Net Debt to Equity Ratio stable at 36% EBITDAs before restructuring: Group 514m, 32% margin Sercel at 131m, a 30% margin Net Free Cash Flow / Capex (in million ) Services at 431m, a 35% margin 425 Industrial Capex: 129m 322…
Increased Fortification from Market Instabilities Extended Debt Maturity Profile Liquidity at 1.0 B Debt Maturity As of end of Q2 2009 As of end of Q2 2009 (in million ) Credit Line Capital leases 85m 187m 151 139 High-Yield…
Agenda CGGVeritas - Overview Sercel & Services Detail H1 2009 Update Outlook and Perspectives 20
Outlook and Perspectives Stronger position in a weaker market The seismic market remains more impacted than general E&P, particularly in contract marine Results in line with expectations supported by our unique broad portfolio…
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