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3Q 2014 RESULTS – CGG

CGG · Nov 17, 2014 · 15 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. 3Q 2014 RESULTS – CGG – slide 1
    Third Quarter 2014 Results London Analyst Meeting Stephane-Paul Frydman, Executive Vice President, Finance & Strategy and Group CFO November 17th, 2014
  2. 3Q 2014 RESULTS – CGG – slide 2
    Managing the Balance Sheet Unsecured HYB Debt Maturity extension Convertible Bond (Debt Component) Convertible Bond (Equity Component) April refinancing operations with the issuance of two High Yield Bonds Nordea Credit Facility…
  3. 3Q 2014 RESULTS – CGG – slide 3
    Well balanced Capital Employed 6.0bn Capital Employed financed by Equity ratio at 77% as at September-end GGR Goodwill Cash at 252m as at September-end 82% of the Net Debt to be repaid only after GGR Equity & Minority January…
  4. 3Q 2014 RESULTS – CGG – slide 4
    GGR Multi-client Q3 Update MCNV: o Best Q3 since 2008 at 133m, but below targets o Horda: Acquisition completed on Quad-35 o Gabon: Initiated 35,000km MC program o US Land: Avalon acquisition completed, Big Cat & Bedias Creek ext.…
  5. 3Q 2014 RESULTS – CGG – slide 5
    StagSeis driven by ultra deep water blocks rotation in GOM StagSeis Expiring Blocks 2014-2024 6
  6. 3Q 2014 RESULTS – CGG – slide 6
    CGG View : From WAZ to StagSeis A clear improvement in the resolution and continuity of the sub-salt geology WAZ: Final RTM (2009) Stagseis: Intermediate RTM product (Aug 2014) 7
  7. 3Q 2014 RESULTS – CGG – slide 7
    Client View : From Narrow Azimuth to StagSeis Source: COBALT 8
  8. 3Q 2014 RESULTS – CGG – slide 8
    Multi-client accounting: Original Participants and After Sales 2012 2013 2014 2015 2016 2016 IBALT DEUX TROIS Cash Capex 200 200 200 Prefunding 70% * 600 = 420 Starts when data is delivered 600*1,25 - 420 = After Sales…
  9. 3Q 2014 RESULTS – CGG – slide 9
    Multi-client accounting: Basic principles Capex = 125 Cash Capex = 100 Prefunding Revenue = 70 - 70% Prefunding rate P&L: Balance Sheet: Cash Flow Statement: Revenue: 70 Gross Book Value = 70 Revenue = 70 Margin: 20% = 14…
  10. 3Q 2014 RESULTS – CGG – slide 10
    Thank you
  11. 3Q 2014 RESULTS – CGG – slide 11
    2014 Q3 Operational Review
  12. 3Q 2014 RESULTS – CGG – slide 12
    Equipment: Impacted by low volume and unfavorable product mix Total sales were 180m, down 8% q-to-q Land Equipment Marine Equipment Revenue (In million ) Lower sales due to weak market conditions 223 from seismic contractors and…
  13. 3Q 2014 RESULTS – CGG – slide 13
    Acquisition: Difficult market conditions Land & Airborne Marine Acquisition Revenue Acquisition revenue at 418m, down 13% q-to-q 568 559 (In million ) Marine revenue at 358m, down 12% q-to-q 106 106 481 74 418 44% of the fleet…
  14. 3Q 2014 RESULTS – CGG – slide 14
    GGR: Increased profitability across the board MC Revenue GGR Revenue SI & Reservoir (In million ) GGR revenue at 305m, up 2% q-to-q Multi-Client at 133m, up 4% sequentially 298 206 305 300 Prefunding revenue at 104m, up 13%…
  15. 3Q 2014 RESULTS – CGG – slide 15
    GGR multi-client: StagSeis ready on time for GoM lease rounds CGG IBALT / StagSeis footprint 3 year program started in 2012 and finishing end of 2014 20,320km2 data acquired with latest StagSeis technology Trois TROIS Deux…

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