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September 2015 Investor Presentation – CGG

CGG · Sep 2, 2015 · 25 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. September 2015 Investor Presentation – CGG – slide 1
    Active Cash and Cost Management in Challenging Market Environment September 2015
  2. September 2015 Investor Presentation – CGG – slide 2
    CGG: a Proactive Seismic Player CGG was the first to react to the sharp decline in our market environment accelerated it when it proved necessary. while reinforcing its integrated business model Looking at the short term and at the…
  3. September 2015 Investor Presentation – CGG – slide 3
    Transformation Plan: What we Achieved Business Marine 3D fleet reduced from 18 to 11 vessels (40)% Restructuring Land Data Acquisition and Airborne restructuring (40)% Marine base cost down from 100 end of 2013 to 57 in June 2015…
  4. September 2015 Investor Presentation – CGG – slide 4
    Cost and Capex Reduction Plans on Track Marine monthly cost structure G&A expenses Base (m) 100 91 (43)% 111 (55)% 76 79 68 50 57 2013 H1 14 H2 14 H1 15 H2 2013 H1 2014 H2 2014 H1 2015 Full cost base including Depreciation &…
  5. September 2015 Investor Presentation – CGG – slide 5
    Managing the Debt Profile Senior Debt Maturity Profile by Q2-End 2015 All amounts in m 67 297 650 448 500 77 130 135 30 30 77 38 2015 2016 2017 2018 2019 2020 2021 2022 Unsecured High Yield Bond Convert. Bond (Debt…
  6. September 2015 Investor Presentation – CGG – slide 6
    Focus on delivery of Transformation Plan Management focus on the efficient delivery of the Transformation Plan: Further cost reductions Sustained HSE and operational performance Improving fleet utilization rate Technology…
  7. September 2015 Investor Presentation – CGG – slide 7
    Business Overview 8
  8. September 2015 Investor Presentation – CGG – slide 8
    Equipment 9
  9. September 2015 Investor Presentation – CGG – slide 9
    Equipment: Impacted by Lower Revenue Revenue OPINC (m) OPINC Margin 1,209 1,204 1,142 1,045 386 1,000 380 354 858 802 293 287 631 32% 186 32% 29% 31% 28% 164 20% 105 22% 16% 2008 2009 2010 2011 2012 2013 2014…
  10. September 2015 Investor Presentation – CGG – slide 10
    Data Acquisition 11
  11. September 2015 Investor Presentation – CGG – slide 11
    Data Acquisition: Difficult Market Conditions Revenue OPINC(1) Marine Land and Multi-Physics (m) OPINC Margin 2,226 34 440 1,775 279 1.5% (1.3%) 1,254 -24 189 (9.4%) 1,786 1,496 -117 1 064 2013 2014 LTM June 2015…
  12. September 2015 Investor Presentation – CGG – slide 12
    GGR 13
  13. September 2015 Investor Presentation – CGG – slide 13
    GGR: Solid and Sustained Profitability Revenue OPINC(1) Multi-client SI & Reservoir (m) OPINC Margin 1,384 1,296 1,290 343 697 317 318 676 639 24.5% 24.8% 24.6% 620 687 651 2013 2014 LTM June 2015 2013 2014 LTM…
  14. September 2015 Investor Presentation – CGG – slide 14
    H1 2015: Cash Management Paying Off EBITDAs (In million ) EBITDAs at 257m 383 A 24.6% margin 257 Operating Cash Flow at 217m 25.6% 24.6% Not including (47)m non-recurring payments related to the Transformation Plan H1 2014 H1…
  15. September 2015 Investor Presentation – CGG – slide 15
    Managing the Group Liquidity and the RCF Covenants Liquidity by June-end US & French RCF 50% drawn, with a 3.3% related interest cost Available Cash at 223m Group Liquidity (available cash plus undrawn RCF) at 472m, a solid level…
  16. September 2015 Investor Presentation – CGG – slide 16
    Conclusion 17
  17. September 2015 Investor Presentation – CGG – slide 17
    The Value of our Integrated Geoscience Business Model Basin Equipment Studies 100km Sercel streamer and 508XT Seismic image Production + 5km Data Acquisition Geological Structure StagSeis, BroadSeis, 4-6m UltraSeis…
  18. September 2015 Investor Presentation – CGG – slide 18
    Appendix 19
  19. September 2015 Investor Presentation – CGG – slide 19
    CGG at a glance: A fully Integrated Business Model Market leader in geoscience industry globally and in each of its Diversified business divisions, providing a comprehensive range of leading geological, geophysical and reservoir…
  20. September 2015 Investor Presentation – CGG – slide 20
    CGG Operating Segments and Business Lines A4 Paper Guide Line Geology, Geophysics and Reservoir Equipment Data Acquisition (GGR) (22% of revenues)(1) (33% of revenues)(1) (45% of revenues)(1) Revenues(1) 802m Revenues(1) 1,775m…
  21. September 2015 Investor Presentation – CGG – slide 21
    Group Organization Chart 22
  22. September 2015 Investor Presentation – CGG – slide 22
    Q2 2015: Operational performance backed by efficient rollout of our Transformation Plan Group Revenue (In million ) Group Revenue at 473m, down (17)% q-o-q Equipment at 107m, down (15)% 689 Data Acquisition at 223m, down (24)%…
  23. September 2015 Investor Presentation – CGG – slide 23
    Equipment: Impacted by Lower Volumes Revenue (In million ) Marine Equipment Total sales at 107m, down (15)% q-o-q Land Equipment Low volumes driven by marine sales 196 76% Land and 24% Marine equipment 74 125 Internal sales…
  24. September 2015 Investor Presentation – CGG – slide 24
    Data Acquisition: Difficult Market Conditions Data Acquisition Revenue Total revenue at 223m, down (24)% q-o-q Land & MP (In million ) External revenue at 119m, down (45)% Marine 481 42% of the fleet dedicated to multi-client…
  25. September 2015 Investor Presentation – CGG – slide 25
    GGR: Continuing Sustained Profitability GGR Revenue Total revenue at 257m, up 8% q-o-q (In million ) SI & Reservoir MC Revenue Multi-Client at 120m, up 21% q-o-q 300 Multi-client capex up 11% in Q2 257 239 190 Prefunding sales…

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