Agenda H1 2011 Financial Review Market Context / Company Positioning Sercel Overview Services Overview Outlook and Perspectives 3
H1 2011 Positive Net Free Cash Flow Group Revenue was 1.478 billion, up 10% y-o-y Group Operating Income at 39m: Sercel excellent performance at 171m, a margin of 32% Services Operating Income was a loss of 55m mainly related to…
Accelerated Refinancing Program with Debt Maturity extended to 2021 ahead of the financial crisis 510 350 Year-end 2010 5.5 years maturity 530 400 305 7.3% cash interest 10 165 10 10 2011 2012 2013 2014 2015 2016 2017 2018…
Performance Program On Track Operational performance Following upgrades, the Oceanic Phoenix & Oceanic Endeavour returned to operations Ship management JV with Eidesvik managing 2/3 of the fleet Marine charter agreement signed with…
Agenda H1 2011 Financial Review Market Context / Company Positioning Sercel Overview Services Overview Outlook and Perspectives 7
CGGVeritas: A Fully Integrated Seismic Provider Equipment: the industry leader Leadership based on technology and installed base Excellent financial performance expected to continue Services: a leadership position in high-end…
Market: Demand Drivers In the uncertain financial market, demand is driven by: Economic development of emerging countries Oil price at sustained high levels Continued depletion of existing reservoirs Increasingly difficult…
Market: A New Cycle Supported by Technology E&P spending expected to rise 16% worldwide in 2011 and continue to increase in 2012 Seismic demand expected to further increase Equipment market should grow 10-15% in 2011 Services…
Agenda H1 2011 Financial Review Market Context / Company Positioning Sercel Overview Services Overview Outlook and Perspectives 11
Sercel: Strengthening its Leadership Trends and Drivers Strong demand for high resolution & increased productivity in both Land and Marine Equipment market expected to increase 10-15%: Land market up around 25% driven by technology…
Agenda H1 2011 Financial Review Market Context / Company Positioning Sercel Overview Services Overview Outlook and Perspectives 13
Marine Overview H1 Revenues 1,078 In millions 1,055 Trends and drivers 9% capacity growth in 2011 and 6% in 2012, 778 to be progressively offset by: The Gulf of Mexico and Brazil recovery 634 Higher demand for new frontier…
Marine: Fleet Upgrade Future Outlook 2 to 4 streamers 8 streamers 10 streamers 2/3D Princess Pacific Finder (new build) Amadeus Viking II Vantage Viking 12+ streamers Oceanic Vega Aliz Vanquish Challenger Symphony…
Marine: BroadSeisTM Technology Differentiation Provides enhanced resolution and stratigraphic detail Improves interpretation of structure, lithology, stratigraphy and fluid properties Innovation across all Divisions Sentinel &…
Land Overview H1 Revenues Trends and drivers In millions 518 Increasing demand for mega crews for reservoir delineation & production, especially in the Middle-East 382 381 Strong activity in North America particularly driven by…
Multi-Client Overview H1 Revenue Trends and drivers 800 745 H1 Capex Gulf of Mexico lease sale confirmed for 700 In millions mid December 600 534 508 516 Sales and outlook strengthening 500 Commercial activity growing ahead of…
Processing, Imaging & Reservoir Overview H1 Revenues Trends and drivers 399 403 In millions 389 Increasing data volumes driven by high-end surveys globally in land and marine Increasing technology demand Advanced depth imaging…
Agenda H1 2011 Financial Review Market Context / Company Positioning Sercel Overview Services Overview Outlook and Perspectives 20
Outlook and Perspectives Seismic market should continue to strengthen in a climate of economic uncertainty Pace driven by the return of Gulf of Mexico operations and geopolitical situations Demand driven by increasingly challenging…
Appendix 22
Financial Performance (In million dollars) H1 2010 H1 2011 Revenue 1,343 1,478 Operating Income 74 39 Operating Margin (%) 5% 3% Cost of Debt -68 -95* Other financial items 21 -18 Income Taxes -12 -13 Deferred Taxes on…
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