CGG : Provides Q3 2021 Trading Update

Back to Newsroom CGG Provides Q3 2021 Trading Update

Paris, France | Oct 11, 2021

Q3 2021 Segment Revenue expected to be around $270 million, up 35% year-on year and 72% sequentially

Third quarter 2021 segment revenue update

• CGG anticipates Q3 2021 segment revenue to be around $270 million, up 35% year-on-year and up 72% sequentially.
• Geoscience segment revenue is expected to be around $77 million, stable year-on-year and up 5% sequentially.
• Multi-Client segment revenue is expected to be around $92 million, up 26% year-on-year and up 149% sequentially.
• Equipment segment revenue is expected to be around $101 million, up 102% year-on-year and up 110% sequentially.

Sophie Zurquiyah, CEO, CGG, said: "We delivered robust third quarter performance, confirming the anticipated trends of gradual recovery in Geoscience, sustained demand for our Multi-client data located in the world's most active basins, and a pick-up in Equipment deliveries in the second half of the year. Multi-client prefunding revenue for the quarter was around $59 million and after-sales increased to around $33 million this quarter."

Change of financial communication schedule
Starting Q3 2021, CGG is changing its financial communication schedule, the time of release of its financial results and the management conference call with investors and analysts.
CGG will now publish its quarterly financial communication at 5:45 pm CET and hold a management conference call at 6:30 pm CET.
This financial communication schedule should be an opportunity for US and UK investors, shareholders and bondholders to participate in the conference call with management.

Q3 2021 results calendar
CGG will announce its third quarter 2021 results on November 3, 2021 after the closing of the Paris stock exchange and hold the management conference call at 6:30pm CET.