Viridien · EURONEXT:VIRI
Viridien — CGG — Investor Presentation (September 2022)
18 slides from Viridien's investor presentation, September 2022
Slide 1: Continuing Transformation into a Technology Company
CONTINUING TRANSFORMATION INTO A TECHNOLOGY COMPANY cgg.com
Slide 2: Disclaimer
Disclaimer ▪ All forward-looking statements are CGG management’s present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For a detailed description of t
Slide 3: Providing unique perspectives on our planet
Providing unique perspectives on our planet SEE THINGS DIFFERENTLY ▪ OUR MISSION We combine human ingenuity, data and new technology to understand and solve the world’s natural resource, environmental and infrastructure challenges for a more sustainable future. HSE EXCELLENCE PEOPLE SOCIAL RESPONSIB
Slide 4: Transitioned into a people, data and technology company
Today, through the challenges, we have successfully transitioned into a people, data and technology company leveraging our: ▪ Leading geoscience / data science data processing technologies IOT cloud imaging ▪ Deep geoscience expertise for the earth and its subsurface sensors analytics ▪ Unique digit
Slide 5: Geoscience: A unique global footprint
Geoscience : A unique global footprint > 43% Market share 26 Locations globally, including: ▪ 16 Subsurface Imaging open centres ▪ 7 Subsurface Imaging dedicated centres Stavanger x 2 Technical Staff Aberdeen Oslo ▪ 70% post graduate degrees Wales London ▪ 26% PhDs Calgary Paris Moscow Pau Vienna Mi
Slide 6: Earth Data: A unique library of subsurface data in key mature sedimentary basins
Earth Data : A unique library of subsurface data in key mature sedimentary basins > 1.25 million sq. km2 Alaska N. Sea Leading coverage Brazil pre-salt with new 348 km2 291,816 km2 4,270 (2D) km acquisition Asia 29,152 km 2D US Land Caspian Reimaging projects in Gulf of Mexico 13,122 km 2D 54,390 km
Slide 7: Sensing & Monitoring: industrial sites
Sensing & Monitoring – (Ex Equipment ) : 14 industrial sites 54% Market share ROTTERDAM SURGUT BEIJING MOSCOW HOUSTON FRANCE FRANCE XUSHUI NANTES DUBAI ST-GAUDENS MASSY LABÈGE SINGAPORE LORIENT BREST Support Clients Vente Manufacturing R&D 7 September 2022 7
Slide 8: H1 2022 Key financial figures
H1 2022 Key financial figures Geoscience Sensing & Revenue Monitoring $393m, up 14% $146m +26% y-o-y $79m proforma y-o-y -51% y-o-y 20% EBITDAs 37% $164m, a 42% margin Revenue breakdown Cash Flow Net +13m$ 43% Earth-Data $168m Group gross debt (before IFRS 16) +137% y-o-y $1,129m and net debt $812m
Slide 9: E&P trends: a growth cycle driven by economic recovery and under-investment
E&P trends: a growth cycle driven by economic recovery and under-investment “We believe we are at the start of a multi- year cycle” - June 29, 2022. Barclays see a multi-year growth cycle for E&P Capex with 14% CAGR during 2022-2025. Despite recession concerns, the fundamentals for E&P upstream spen
Slide 10: A high level of commercial activity across our core businesses
A high level of commercial activity across our core businesses Geoscience (GEO) ▪ Step-out Exploration and Production focus driving market improvements ▪ CGG’s clear technology differentiation making significant impact in complex sub-surface areas Multi-Client / Earth Data (EDA) ▪ Resumption of leas
Slide 11: A new differentiated offering representing more than 20% of sales in 2025
A new differentiated offering which should represent more than 20% of our sales in 2025 DIGITAL SCIENCES ENERGY TRANSITION Digital Services & Innovation Geothermal Data Transformation Minerals & Mining . MONITORING & OBSERVATION CCUS & Energy Storage Environmental Sciences EARTH DATA Earth Data Libr
Slide 12: CGG HPC and Cloud Solutions
CGG HPC and Cloud Solutions Leading HPC technology solutions ▪ Access to highly specialized HPC compute, storage and expert services optimized for secure and efficient application ▪ Agnes Boudot (Ex-ATOS) joined CGG to lead the continued expansion of the HPC & Cloud Solutions Business A highly optim
Slide 13: Our Sustainability contribution and ESG ratings
Our Sustainability contribution and ESG ratings Energy companies CO2 Energy transition footprint reduction More accurate drilling locations to avoid Supporting the transition to a lower hazards and optimally target reservoirs carbon future #1-3 among the Oilfield Services Earth observation & Energy
Slide 14: Conclusion
Conclusion • Macro environment is strengthening with increased spending from all clients and their progressive refocusing on exploration • Our leading sub-surface technology is increasingly critical for complex environments to reduce risks and optimize production • Geoscience and EDA are driven by i
Slide 15: Thank you
THANK YOU 15
Slide 16: Q2 & H1 2022 Key segment financial highlights
Q2 & H1 2022 Key segment financial highlights REVENUE EBITDAS NET CASH FLOW Q2 2022 $240 million $126 million $(56) million up 66% pro-forma* y-o-y 52% margin including $(42) million change in working capital $393 million $164 million $13 million H1 2022 up 14% pro-forma* y-o-y up 130% y-o-y includi
Slide 17: Simplified Cash Flow
Simplified Cash Flow In million $ H1 2022 H1 2021 H1 2022 Segment Operating Cash Flow Net cash flow at $13m 158 66 before change in working capital Change in working capital & provisions 48 93 Segment operating cash flow at $158m, before $48m change in Capex (127) (99) working capital & provisions A
Slide 18: Balance Sheet
Balance Sheet As of June 30, 2022 Group liquidity amounted to $417m, including: $317m cash liquidity $100m undrawn RCF Group gross debt before IFRS 16 was $1,129m and net debt was $812m Group gross debt after IFRS 16 was $1,226m and net debt was $909m $1,107m HY Bonds, due 2027 $97m Lease liabilitie