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Viridien — CGGVeritas — Q3 2012 Earnings Presentation

16 slides from Viridien's earnings presentation, Nov 5, 2012

  1. Slide 1: Q3 2012 Financial Results

    Q3 2012 Financial Results November 5th 2012

  2. Slide 2: Forward Looking Statements

    Forward Looking Statements This presentation contains forward-looking statements, including, without limitation, statements about CGGVeritas (“the Company”) plans, strategies and prospects. These forward-looking statements are subject to risks and uncertainties that may change at any time, and, ther

  3. Slide 3: Agenda

    Agenda Q3 2012 Review Update on Geosciences Strategy Outlook and Perspectives Appendix 3

  4. Slide 4: Q3 Main Elements

    Q3 Main Elements  Operational Performance  Marine production rate above 90% for the third consecutive quarter  Services back to a double digit margin, the highest since Q1 2009, despite weak multi-client sales this quarter  Continued strong performance of Sercel  Acquisition of Fugro’s Geoscien

  5. Slide 5: Q3 2012 Financial Overview

    Q3 2012 Financial Overview Revenue (In million $)  Revenue $855 million, up 7% 906  Sercel at $283m • Internal sales at 22% 855 • External sales at $221 million, up 8% 831 • 26% contribution to Group Revenue 797 787  Services at $634m, up 7% • Good marine performance • High level of activity in l

  6. Slide 6: Q3 2012 Financial Overview

    Q3 2012 Financial Overview EBITDA  EBITDAs: $278 million, 32% margin (In million $)  Sercel at $105m, a 37% margin 273 278 248 228  Services at $210m, a 33% margin 212  Total Capex of $196 million ($577m YTD)  Industrial Capex: $63m ($273m YTD) • 2012 Capex within the range $325m-$350m  Multi-

  7. Slide 7: Financial Indicators – Solid Balance Sheet

    Financial Indicators – Solid Balance Sheet Capital Employed as of end of September 2012 Capital Employed at end of September 2012 (In million $) Goodwill $ 2 413 m Equity & $ 3 990 m Minority Interests MC Library $ 613 m Net Fixed $ 1 680 m Assets $ 1 660 m Net Debt Net Current $ 944 m Assets Capita

  8. Slide 8: Sercel: Q3 2012 Operational Overview

    Sercel: Q3 2012 Operational Overview  Total Revenue up 3% y-o-y Revenue (In million $)  External revenue up 8% y-o-y 348 326  47% of the total sales dedicated to Marine 275 285 283 Equipment and 53% to Land Equipment  Strong marine sales driven by a large number of Sentinel® solid streamer secti

  9. Slide 9: Services: Q3 2012 Operational Overview

    Services: Q3 2012 Operational Overview  Revenue: $634 million up 7% y-o-y Revenue (In million $) Multi-Client  Marine contract down 12%, 28% dedicated to MC • Good fleet operational performance 632 634 592 599 • Positive impact of the increase in marine prices 531  Land contract up 102% • Sustain

  10. Slide 10: Agenda

    Agenda Q3 2012 Review Update on Geosciences Strategy Outlook and Perspectives Appendix 10

  11. Slide 11: Update on Geosciences Strategy (1/2)

    Update on Geosciences Strategy (1/2)  Acquisition of Fugro’s Geoscience Division announced last September 24th  Excluding existing Multi-Client and nodes business  Creation of strategic partnerships with Fugro  Joint Venture creating a focused global leader in seabed acquisition  Sales & Market

  12. Slide 12: Update on Geosciences Strategy (2/2)

    Update on Geosciences Strategy (2/2)  Acquisition of Fugro’s Geoscience Division on Track  Closing of Fugro’s Geoscience Division Acquisition still expected by the end of the year or by early 2013  Ongoing work’s councils consultation  Acquisition currently being submitted to the approval of ant

  13. Slide 13: Agenda

    Agenda Q3 2012 Review Update on Geosciences Strategy Outlook and Perspectives Appendix 13

  14. Slide 14: Outlook and Perspectives

    Outlook and Perspectives  Performance Plan progressing successfully  Operational and financial results strengthening  Continued focus on performance, cost reduction and differentiation  We remain confident to achieve our 2012 objectives  A strong fourth quarter is anticipated for Sercel  Our m

  15. Slide 15: Agenda

    Agenda Q3 2012 Review Update on Geosciences Strategy Outlook and Perspectives Appendix 15

  16. Slide 16: Collaborative Relationship Agreement with Baker Hughes on the Shale Plays

    Signature of a Collaborative Relationship Agreement with Baker Hughes on the Shale Plays  Identifying sweet spot and improving development decisions  Optimizing well placement in the play and in the field (finding sweet spots)  Optimizing well completion – proper design and implementation of the

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