Vision of the company: End of September 2014 key figures by division In million Group Margin Acquisition Margin REVENUE 2,189 REVENUE 1,458 EBITDA 591 27% EBITDA 248 17% OPINC 131 6% EBIT 91 4% OPINC 20 1% Industrial Capex 180…
Short term challenges: Impact of 60 oil price on our clients Clients Geographical footprint Seismic / CGG position Very Limited Seismic Shale North America No activity in Shale (except in Land multi-client) Middle East Long-term…
Transformation Plan on track Marine fleet reduction Marine 3D fleet already reduced to 13 vessels Marine fleet right-sizing and acceleration from 18 to 13 vessels as soon as 2014 Land & Airborne restructuring New Argas land…
Equipment division: a resilient, profitable and cash generative business model Excellent Resilience to the downturn Strategy to generate sustained replacement (revenues, m) revenue through a large installed base showing 32% 32%…
GGR multi-client: ideally positioned in legacy basins CGG Worldwide MC library Increasing demand in traditionnal legacy basins (Gulf of Mexico, North Sea, Brazil) for high quality images, North Sea key to drilling opportunities US…
GGR: a non cyclical, growing and profitable business Subsurface Imaging: Leadership position Excellent Resilience to the downturn Over 2,200 experts worldwide, specialists in (revenues, m) solving difficult imaging problems More than…
CGG: a resilient platform well positioned for rebound Equipment margin rebound to be driven by higher land volume Acquisition, a reduced footprint in land and marine with a lower cost base GGR multi-client sales increase to be…
Financial Structure
Debt Status as of Year-End 2013 Bonds, Loans & RCF Debt Maturity Profile as of Year-End 2013 'French' & US Revolving Facilities Unsecured HYB & CB All amounts in m Fugro V. Loan & 'Nordic' Facility Mid-term Loans: Fugro Convertible…
Senior Debt Refinancing completed in April 2014 Debt Maturity Profile as of June-End 2014 'French' & US Revolving Facilities Anticipated repayment of All amounts in m shortest debt instruments Fugro V. Loan & 'Nordic' Facility 2015…
RCF Extend and Amendment completed in Q3 2014 July: extend by one year Debt Maturity Profile as of Sept.-End 2014 of the maturity of 80% of 'French' & US Revolving Facilities All amounts in m the French RCF (in line Fugro V. Loan &…
Mid-term Loans Refinancing completed in Q4 2014 Nordic Facility refinanced from 175m up to 250m Debt Maturity Profile as of Year-End 2014 'French' & US Revolving Facilities All amounts in m Amortization: 7.5m per Fugro V. Loan &…
Enlarged Covenant Headroom coupled with tight cash generation management Covenant Headroom Extended headroom negotiated with Revolving Credit Facilities lenders to 3.75x from 3.0x Leverage ratio (Net Debt over EBITDA) at 2.9x as…
StagSeis: a key driver for cash generation in 2015 and onwards Western & Central GoM lease rounds cycle (number of blocks) 3 year acquisition program (IBALT, Expiration by Areas (EB, AC, GB, KC, GC, WR) Blocks 1 000 DEUX, TROIS)…
CGG Focus on cash generation Transformation Plan implemented and accelerated across CGG CGG with a lower cost base by end 2014 to benefit from potential upside in the Acquisition market Cash generation, a major focus sustained…
Conclusion
An integrated model to better anticipate and meet clients needs Equipment Acquisition GGR Sercel sells its equipment to the land and GGR builds its multi-client library with marine business lines CGG marine fleet Sercel products…
CGG ready to weather low oil prices period Sercel revenue and profitability remained solid driven by: Replacement market of installed base Increasing demand for higher resolution of Middle-East depleting reservoir Acquisition…
Thank you Q2 2013, Q1 2014 and Q2 2014 are presented before Non-Recurring Charges (NRC), unless stated otherwise
Equipment: Sercel a leading seismic equipment provider 2014 YTD(1) Key Figures Market Positioning Strong footprint in land, 70% market share in Total sales EBIT Number of cable systems 583m 109m employees Strong footprint in marine,…
GGR: Geology, Geophysics & Reservoir 2014 YTD(1) Key Figures Market Positioning Total sales EBIT Multi client library in key areas (Gulf of 894m: 388m Multi- 198m Mexico, North Sea, Brazil) client and EBIT margin Technology and…
Acquisition division 2014 YTD(1) Key Figures Market Positioning A Marine seismic fleet dedicated to Total sales EBIT Number of high-end market 1,458m (17)m employees 2,300 The high-end Land acquisition player EBIT Industrial Vessel…
The StagSeis success: evidence of positive collaboration across divisions StagSeisTM Shows Strong Improvement in Resolution from WAZ Equipment Yesterday WAZ final image (after full Today StagSeisTM Fast-Trax image processing)…
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