PARIS, France – July 26, 2019 – CGG (ISIN: FR0013181864 – NYSE: CGG), world leader in Geoscience, announced today its 2019 second quarter unaudited results.
Commenting on these results, Sophie Zurquiyah, CGG CEO, said:“I am very pleased to see the strong performance of CGG in the first half of 2019. As global offshore exploration continues to gradually recover and our clients maintain focus on improved efficiency, near field exploration and reservoir development, our Geoscience technology and services along with our portfolio of multi-client data are increasingly key profitability levers. Also, our Equipment business continued to benefit from the strong land equipment market. With the encouraging first half, we significantly improved cash generation as compared to last year and confirm our 2019 full year financial targets. The strategic partnership with Shearwater that we recently announced is a major milestone in our transition to an asset light, people, data, and technology company and we are well on track to close this transaction by year-end."
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