CGG - CGG STOCK NEWS

CGG announces its voting rights and shares information as of February 28, 2022. The total number of issued shares stands at 711,788,233, while the actual voting rights are 712,431,411 and theoretical voting rights are 712,456,407. All shares maintain equal voting rights, with exceptions for treasury shares (no voting rights) and registered shares held for over two years (double voting rights).

CGG reported strong Q4 2021 results, with revenue of $471M and an EBITDA margin of 51%. The Geoscience and Multi-Client segments saw year-on-year growth of 24% and 13%, respectively. Despite a net loss of $28M, the company expects 2022 revenue to grow by 10%, driven by a recovery in the E&P sector. Investments in new technologies aim to diversify revenue, with Beyond the Core businesses projected to generate over 20% of total revenue by 2025. Liquidity stood at $419M, with a significant focus on carbon neutrality and technology enhancements.

CGG will announce its Q4 2021 financial results on March 3, 2022, after market close. The press release and slide presentation will be available on the CGG website at 5:45 PM CET. An analysts conference call is scheduled for the same day at 6:30 PM CET, accessible via audio webcast. The company employs around 3,300 people worldwide and specializes in geoscience technology, supporting clients in addressing natural resource challenges.

CGG, a French société anonyme, reports its capital structure as of January 31, 2022. The company has a total of 711,670,269 issued shares, resulting in 712,313,409 actual voting rights. The theoretical voting rights stand at 712,338,405. Notably, all shares have equal voting rights, excluding treasury shares and registered shares held for over two years, which possess double voting rights. This report complies with the French Commercial Code and regulations established by the Autorité des Marchés Financiers (AMF).

CGG has secured a three-year contract extension to operate a dedicated permanent reservoir monitoring (PRM) imaging center for Equinor in Stavanger, effective January 1, 2022, through December 31, 2024. This extension highlights CGG's expertise in providing high-quality 4D seismic imaging, which aids Equinor's asset teams in optimizing production from key North Sea fields like Johan Sverdrup, Snorre, and Grane. CGG's imaging solutions are praised for their quick turnaround and innovative technologies, reinforcing the company's status as a leading partner in the offshore PRM sector.

CGG has signed a binding offer with Pramena Investment & Anacap Financial Partners for the sale and leaseback of its headquarters, Galileo, located in Massy, France. The transaction is expected to close in Q2 2022. This strategic move is part of CGG's ongoing efforts to reduce costs and enhance its balance sheet, as stated by CFO Yuri Baidoukov.

CGG reported its Q4 2021 segment revenue at approximately $301 million, marking a 15% sequential increase and a 12% year-on-year rise, excluding GeoSoftware. The Geoscience segment revenue is expected to be around $93 million, up 37% sequentially and 50% year-on-year. The Multi-Client sales are projected at $114 million, while Equipment sales are down 7% sequentially. For 2021, CGG anticipates a positive net cash flow of $15 million before refinancing costs of $(40) million. Year-end net debt is estimated at $865 million.

CGG, a French société anonyme with a share capital of €7,116,639, disclosed information in accordance with French regulations. As of December 31, 2021, the total number of issued shares was 711,663,925. The company's actual voting rights stood at 712,303,465, while the theoretical voting rights were 712,328,461. This information highlights the voting structure, including details on treasury shares and double voting rights for registered shares held over two years. The report aims to provide transparency to shareholders and stakeholders regarding voting rights.