CGG has announced rejuvenated third quarter, non-audited results reflecting segment revenue of US$270 million, up 35% year-on-year, and segment EBITDAs of US$118m, more than double year-on-year.
The geoscience company said geoscience revenue was US$77m, “stable year-on-year” and up 5% sequentially, multi-client segment sales were US$92m, up 26% year-on-year and 149% sequentially and equipment segment sales of US$101m leapt 105% year-on-year and 113% sequentially.
Group net loss was US$17m and new cash flow stood at US$34m.
CGG CEO Sophie Zurquiyah, commented: “I am encouraged by our Q3 results and more importantly by the signs of the gradually increasing demand for our core businesses, supported by the strengthening macro-environment.
“Our differentiated products and services remain fundamental to solving our client’s challenges in complex sub-surface environments, addressing their digitalization needs and reducing their environmental footprint.
“Beyond the core, we are developing and commercially progressing a growing portfolio of business opportunities targeting digital geoscience, energy transition, environmental geoscience, and infrastructure monitoring. These opportunities leverage our leadership technology positions in sophisticated algorithms, high performance computing, earth subsurface data base and sensors, all of which provide new growth for the company.”