CGG CGG A GLOBAL TECHNOLOGY & HPC LEADER
Q4 & FY 2023 FINANCIAL RESULTS
cgg.com
Disclaimer
This presentation contains forward-looking statements, including, without limitation, statements about CGG ("the Company") and its plans, strategies, and prospects. These forward-looking statements are subject to
risks and uncertainties that may change at any time, and, therefore, the Company's actual results may differ
materially from those that were expected.
The Company based these forward-looking statements on its current assumptions, expectations, and projections about future events. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it is very difficult to predict the impact of known factors and it is impossible for us to anticipate all factors that could affect our proposed results. All forward-looking statements are based upon information available to the Company as of the date of this presentation.
Important factors that could cause actual results to differ materially from management's expectations are
disclosed in the Company's periodic reports and other regulated information filed with the AMF.
Q4 2023 financial results | 2 |
Agenda
1 | 2 | 3 | 4 |
cgg.com
Q4 2023 financial results
Q4 & FY 2023 | FY 2023 | 2024 - 2026 | 2024 - 2025 |
Operational Overview | Financials | Business | Financial |
Perspectives | Roadmap | ||
A wider scope of businesses offering attractive prospects
CORE BUSINESSES
Geoscience
Established leader in subsurface imaging, geology and geoscience services.
Earth Data
The industry's most technically advanced seismic data and geologic studies in the world's key
locations.
Sensing & Monitoring
Established leader in marine, land, ocean floor and downhole seismic equipment and gauges.
NEW BUSINESSES
Low Carbon
Supporting industry transition with technology, data and expertise for CCUS, geothermal and critical minerals.
HPC & Digital Solutions
Data transformation, data science, AI, machine learning, HPC expertise & CGG Cloud services.
Infrastructure Monitoring
Structural health and earthworks monitoring solutions with advanced sensors.
Q4 2023 financial results | 4 |
Strengthening ESG commitments
Top tier ESG rating
MSCI
ESG RATING
17.9 | SUSTAINALYTICS |
ESG RISK RATING | |
Emissions at 24 kTCo2*, reduced by 58% since 2019
65% low carbon energy mix in 2023
25% female in senior leadership in 2023
Scope 1 ( 2023) : 3
Scope 2 ( 2023 ) : 21
PUE ( 2023 ) : 1.35
Q4 2023 financial results
* Scopes 1 & 2 | 5 |
1
Q4 &
FY 2023
Operational Overview
cgg.com
Q4 2023 financial results
Q4 2023 & FY 2023 key segment financial highlights
Q4
2023
2023
REVENUE
$320 million
stable y-o-y
$1,125 Billion
up 21% y-o-y
EBITDAs | NET CASH FLOW | |
$122 million | $48 million | |
including $(13)m penalty | including $(18)m | |
fees from vessel | contractual fees from | |
commitments | vessel commitments | |
$400 million | $32 million | |
including $(44)m penalty | including $(66)m | |
fees from vessel | contractual fees from | |
commitments | vessel commitments | |
Liquidity of $417 million, including $90 million undrawn RCF
Q4 2023 financial results | 7 |
Q4 2023: GEO & SMO solid quarterly activity; EDA impacted by delayed bid rounds
Strong GEO activity worldwide performance with | Q4 segment revenue per business | |||
revenue up 41% year on year driven by delivery of large | Q4 2022 | Q4 2023 | ||
processing projects | ||||
145 | ||||
119 | ||||
High level of EDA prefunding revenues driving full year | 98 | 103 | 104 | |
prefunding rate to 113%. | ||||
Lower EDA after-sales from delayed Brazil and GoM | 69 | |||
licensing rounds | ||||
SMO: Very high level of land and nodes equipment | ||||
deliveries | GEO | EDA | SMO | |
DDE | 8 | |||
Q4 2023 financial results |
DDE Segment: Key business indicators
Segment revenue ($m) | Adjusted segment EBITDAs ($m) & margin (%) |
56% | 62% | 55% | 68% | 58% | |||
+2% | 330 | 406 | 367 | ||||
+21% | 672 | ||||||
659 | 147 | ||||||
Earth Data | 117 | ||||||
545 | Geoscience | ||||||
337 | 2021 | 2022 | 2023 | Q4 2022 | Q4 2023 | ||
375 | Adjusted segment OPINC ($m) & margin (%) | |
276 | ||
18% | 29% | 21% | 29% | 10% | ||||||
215 | (7)% | 192 | ||||||||
140 | ||||||||||
201 | ||||||||||
284 | 335 | 145 | 103 | 105 | ||||||
269 | 62 | |||||||||
69 | 98 | 21 | ||||||||
2021 | 2022 | 2023 | Q4 2022 | Q4 2023 | 2021 | 2022 | 2023 | Q4 2022 | Q4 2023 | 9 |
Q4 2023 financial results |
Geoscience: Key business indicators
Total production ($m) | Backlog as of December. 31st ($m) |
474 |
394 | 399 +19% | 139 | Internal production | |
External revenue | ||||
125 115 +18%
269 | 284 | 335 | 100 | +41% | 131 |
33 | |||||
31 | |||||
98 | |||||
69 | |||||
2021 | 2022 | 2023 | Q4 2022 | Q4 2023 |
(19)% | |
227 | |
184 | |
2022 | 2023 |
Total production / head ($k) | Computing power (PFLOPS) | |||||||||||||
+9% | +45% | 510 | ||||||||||||
313 | 166 | 250 | 261 | 290 | 351 | |||||||||
241 | 278 | 286 | ||||||||||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |||||||||
2020* | 2021* | 2022 | 2023 | |||||||||||
Q4 2023 financial results | 10 |
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Disclaimer
CGG SA published this content on 06 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 March 2024 17:05:09 UTC.
