mmmmmmm, see slide #14th of the annual presentation....
"Q4 2016 Net Income at $(280)m and Full Year 2016 at $(577)m.....over U$D 1200 m revenue....too much!!!!
14 replies (most recent on top)
I think they are holding a meeting with bond holders next week.
http://subseaworldnews.com/2015/11/05/cgg-lays-off-930-and-reduces-fleet-to-5-vessels/
That was old new. It was written in 2015. 2 years ago
need to learn how to speak Portuguese, not Chinese or French
Maybe Sercel and HR (very popular software world wide).
At this valuation I think I could sell my house and buy this company. Kick the useless management out and start making some good money.
If the bond holders do convert, they will own the company, and will most likely look for a buyer.
After the debt has gone, I'm certain there will be buyers willing to pay for parts of the business.
Only 5 vessels left. Plenty of vessels stacked (in France).
http://subseaworldnews.com/2015/11/05/cgg-lays-off-930-and-reduces-fleet-to-5-vessels/
If an oil company wants to buy CGG it would not want the current level of upper management it will be for the core of the business and quite rightly so
Probably good to sell the vessels and concentrate on the less capital intensive side of the business
I think CGG still got some vessels.
I heard rumor about an oil company may want to buy CGG cheaply.
I expect it is virtually imposible to generate the orderbook as potential customers must know about the current situation
There's no part of the business making money now - nothing left to sell ...