CGG - neue WKN nach reverse-split - 500 Beiträge pro Seite

eröffnet am 24.07.16 12:03:36 von
neuester Beitrag 09.03.21 23:57:30 von

Begriffe und/oder Benutzer



 Ja Nein
24.07.16 12:03:36
Beitrag Nr. 1 ()
24.07.16 12:13:22
Beitrag Nr. 2 ()
Paris, France – 3 June 2016

The Company has set the date to carry out the reverse stock split that the combined general shareholders’ meeting approved on 27 May 2016.

The reverse stock split operations will begin on 20 June 2016 in accordance with the terms of the reverse stock split notice published on 3 June 2016 in the Bulletin des Annonces Légales Obligatoires (BALO).

Reverse Stock Split Terms

All shareholders will automatically receive from their financial intermediary one new share and all rights pertaining to shares, in exchange for 32 former shares.

The Company reverse stock split will take effect on 20 July 2016.

The first share price on 20 July 2016 will be calculated on the basis of the last share price traded on 19 July 2016 multiplied by 32.

Shareholders who hold a total number of shares that is an exact multiple of 32 will need to take no action, and the reverse stock split will be carried out automatically on 20 July 2016.

Shareholders who do not hold a total number of shares that is an exact multiple of 32 must, between today and 19 July 2016 inclusive, deal with their fractional shares by purchasing or selling directly on the market the number of shares needed to obtain a multiple of 32.

After that date, shareholders who have been unable to obtain the number of former shares necessary for the reverse stock split will be compensated by their financial intermediary within 30 days from 20 July 2016. The former shares (ISIN code: FR0000120164) will be delisted from Euronext on 20 July 2016 and on that date will be replaced by the new reverse split shares (ISIN code: FR0013181864).
24.07.16 12:19:19
Beitrag Nr. 3 ()
Bond mit 4 Jahren Restlaufzeit bringt circa 28% p.a.:…

kann man wohl als high-yield bezeichnen...
3 Antworten
24.07.16 12:43:57
Beitrag Nr. 4 ()
Man kann getrost davon ausgehen,nach dem Splitt ist vor den Splitt.
24.07.16 12:47:34
Beitrag Nr. 5 ()
Antwort auf Beitrag Nr.: 52.901.890 von R-BgO am 24.07.16 12:19:19
Wenn wir schon dabei sind...:
A1HCPR - OCEANE 1.1.2019 (Volumen ca. 360 MEUR)
1,25% Kupon
EUR 32,14 Nominalwert
ask 24,80 (Euronext)
=> (32,14/24,80)^(1/2,42) = 11,3% + Kupon

A1Z3ZD - OCEANE 1.1.2020 (Volumen ca. 325 MEUR)
1,75% Kupon
EUR 12,86 Nominalwert
ask 4,98 (Euronext)
=> (12,86/4,98)^(1/3,42) = 32,0% + Kupon

A1ZG86 - Bond 15.5.2020 (Volumen ca. 390 MEUR)
5,875% Kupon
Ask 55,35% (gettex)
=> (100/55,35)^(1/3,83) = 16,7% + Kupon
2 Antworten
16.11.16 07:58:24
Beitrag Nr. 6 ()
Ich hatte die Aktie mal vor dem Split.
Ein Trauerspiel hier.
1 Antwort
16.11.16 10:33:48
Beitrag Nr. 7 ()
Antwort auf Beitrag Nr.: 53.702.760 von wallander08 am 16.11.16 07:58:24
sie machen weiter
"solide" 100 MUSD Miese pro Quartal...
16.11.16 10:37:59
Beitrag Nr. 8 ()
Antwort auf Beitrag Nr.: 52.902.019 von R-BgO am 24.07.16 12:47:34
das Posting war vom 24.7.; aktuelle Preise in Rot
Zitat von R-BgO: A1HCPR - OCEANE 1.1.2019 (Volumen ca. 360 MEUR)
1,25% Kupon
EUR 32,14 Nominalwert
ask 24,80 (Euronext) 22,10 (Euronext)
=> (32,14/24,80)^(1/2,42) = 11,3% + Kupon

A1Z3ZD - OCEANE 1.1.2020 (Volumen ca. 325 MEUR)
1,75% Kupon
EUR 12,86 Nominalwert
ask 4,98 (Euronext) 3,17 (Euronext)
=> (12,86/4,98)^(1/3,42) = 32,0% + Kupon

A1ZG86 - Bond 15.5.2020 (Volumen ca. 390 MEUR)
5,875% Kupon
Ask 55,35% (getter) 43,57 (Düsseldorf)
=> (100/55,35)^(1/3,83) = 16,7% + Kupon
1 Antwort
06.02.17 16:27:18
Beitrag Nr. 9 ()
Antwort auf Beitrag Nr.: 53.704.446 von R-BgO am 16.11.16 10:37:59tja...


CGG S.A. announces a consent solicitation in respect of its Senior Notes
and Term Loan B

Paris, France - February 6, 2017

CGG S.A. ("CGG") today announces that it is soliciting consents (the "Solicitation") to permit the appointment of a 'mandataire ad hoc' (a French facilitator for creditor negotiations) from

(i) the holders of each series of Senior Notes and
(ii) the creditors under the Term Loan B.

"Senior Notes" means CGG's:

-7.750% Senior Notes due 2017 (CUSIP: 204386AK2 / ISIN: US204386AK24),

-6.500% Senior Notes due 2021 (CUSIP: 204384AB7 / ISIN: US204384AB76; CUSIP: F1704UAD6 / ISIN: USF1704UAD66),

-5.875% Senior Notes due 2020 (Reg. S ISIN: XS1061175607 / Reg. S Common Code: 106117560; Rule 144A ISIN: XS1061175862 / Rule 144A Common Code: 106117586) and

-6.875% Senior Notes due 2022 (Reg. S CUSIP: F1704UAC8 / Reg. S ISIN: USF1704UAC83; Registered CUSIP: 12531TAB5 / Registered ISIN: US12531TAB52).

"Term Loan B" means the $342 million term loan facility with CGG's subsidiary, CGG Holding (US) Inc., as borrower.

Rationale for the solicitation

CGG announced on January 5, 2017 that in a difficult market environment expected to remain similar in 2017, it considered that the Group's debt level was too high. It therefore intends to commence discussions with all its stakeholders in their various jurisdictions in order to achieve a financial restructuring.

The objective of this restructuring would be to provide CGG with a level of indebtedness and cost of debt that is substantially reduced and sustainably adapted to its revenues. To that end, CGG will make proposals to its creditors and to its shareholders. The market will be informed in due time of the outcome of these discussions.

In order to facilitate discussions with all of its stakeholders, CGG wishes to have the ability to request the appointment of a mandataire ad hoc, which requires the agreement of the relevant creditors in accordance with various credit agreements and bond documents.

The purpose of the Solicitation is to obtain the consent, at the requisite majority, of
(i) the holders of each series of Senior Notes and
(ii) the creditors under the Term Loan B
such that CGG would have the option, if desired, to request the appointment of a mandataire ad hoc, without such action constituting an Event of Default under the Senior Notes and Term Loan B documentation.

CGG has had discussions regarding this Solicitation with an ad hoc Committee of its Senior Notes who represent
-36.75% of the 6.500% Senior Notes due 2021,
-9.03% of the 5.875% Senior Notes due 2020 and
-46.99% of the 6.875% Senior Notes due 2022.

The ad hoc committee members have advised CGG that they will support the Solicitation with respect to the Senior Notes. CGG has had similar discussions with holders representing 79.9% of the Term Loan B. These holders have indicated that they will support the Solicitation with respect to the Term Loan B.

To date, CGG has already secured the requisite consent of the lenders under its French revolving credit facility, the US revolving credit facility of CGG Holding (US) Inc. and the Nordic credit facility of its subsidiary CGG Geo Vessels to the potential appointment of a mandataire ad hoc.

CGG confirms that it has not yet decided whether or not to seek the appointment of a mandataire ad hoc and has not taken any steps to appoint a mandataire ad hoc. CGG remains in full compliance under its Senior Notes and loan documentation.

Details of the solicitation

The Solicitation with respect to the Senior Notes will expire at 5:00 pm New York City time on February 17, 2017 unless extended by CGG.

The Solicitation with respect to the Term Loan B will expire at 5:00 pm New York City time on February 10, 2017 unless extended by CGG.

CGG has retained Lucid Issuer Services to serve as its Tabulation and Information Agent for the Solicitation with respect to the Senior Notes. Copies of the Consent Solicitation Statement can be obtained from Lucid Issuer Services Limited (Attention: Yves Theis / Thomas Choquet, +44 (0) 20 7704 0880,
20.06.17 00:48:34
Beitrag Nr. 10 ()
Gläubigerschutz beantragt in FR (Sauvegarde) + US (Chapter 11+15)
14 June 2017, Mittwoch letzter Woche

Oil-services company CGG Group filed for bankruptcy protection Wednesday in the U.S. and France after reaching a restructuring deal with lenders and bondholders (WSJ-D intro)…
(Sauvegarde = Safeguarding, Term aus fr. Insolvenzrecht)

oder:…… (*)

Ich hab selten ne Insolvenz-Anzeige mit einer so schönen Eigen-Überschrift gelesen:
Following Agreement with Key Financial Creditors, CGG Begins Legal Process to Implement Balance Sheet Restructuring and Create Sustainable Capital Structure

aus (*):
Beatrice Place-Faget, general counsel of parent company CGG SA, said in court papers the prolonged downturn in oil and natural gas prices left the company unable to pay its debts.

Mein Eindruck ist, das stimmt so nicht. Kann es sein, dass die teuren Übernahmen am Ende des Ölbooms alle auf Pump finanziert wurden? Wenn das so ist, dann ist Obiges nur eine Schutzbehauptung. Man könnte auch sagen, gelogen.

Auf die Idee mal den:
- CEO seit 2010,
...oder am besten:
- CEO + Chairman seit 2005
..auszutauschen, scheint hier niemand zu kommen.
Strafe muss nun aber sein, d.h. den Laden selber zu sanieren. Aber was soll dann kommen? Dieselben Fehler nochmal machen?

Und wie kann jemand sinnvoll sanieren, der in der Vergangenheit eher durch Grossübernahmen aufgefallen ist?

Ohne neues Management würde ich hier keine Aktie kaufen.

Ich hab mir überlegt, ob CGG nicht mal was mit Big Data - ausserhalb von O&G - hätte machen können, oder sogar noch machen kann, z.B. in einer Tochtergesellschaft --> Nischt. NorCom hat sich mit Big Data auch neu erfunden (Gut, die sind auch kein Franzosen-Dickschiff...)

Und CGG war schon Big Data, da hat noch niemand so richtig darüber gesprochen, sozusagen Old School Big Data.

Das ist irgendwie neu heutzutage. Früher musste man wegen so was gehen. Heutzutage bleibt man schamlos im Sessel und auf Position - und muss vielleicht noch mit viel Geld davon weggelockt werden.

Interessant was man hier so liest:
18 Antworten
21.07.17 05:21:24
Beitrag Nr. 11 ()
Es ist vollbracht - erstmals unter EUR4.00 beim Close

Es kann sein, dass es zuvor im Juni schon mal Intraday (in Paris) unter EUR4.00 ging - aber nach meiner Kurzprüfung nicht zum Close.

Noch halten die EUR4.00 prinzipiell hauchdünn. Dieser Widerstand ist brutal wichtig geworden.

Am Mittwoch gab's noch ne Meldung zu einem JV-Grossauftrag von PetroBras:…

=> absolut keine positive Reaktion im Kurs!

Möglich wäre nun auch ein sehr flaches Doppeltief mit dem ersten Tief Ende Juni.
Ich finde so gar keine andere Meinung (zu meiner) bzgl. CGG im ganzen, grossen IN.

CGG (CGG = symbol) macht durch das (off.) US-Listing auch SEC filings.

Jean-Georges Malcor ist immer noch CEO
(mein Franz. ist zu schlecht - ich kann nicht erkennen, wie lange sein Vertrag noch läuft)
--> weiter abwärts mMn, zumindest bis 28.7., dann wird's spannend:

CGG also announces that yesterday (12.7.) it has convened meetings of its Safeguard lenders' committee and bondholders' general meeting (including holders of Convertible Bonds (as defined in the LUA)) for July 28, 2017 to vote on its draft Safeguard plan.
1 Antwort
29.07.17 00:02:09
Beitrag Nr. 12 ()
Antwort auf Beitrag Nr.: 55.367.525 von faultcode am 21.07.17 05:21:24
Q2 --> General Meeting of Shareholders im Oktober 2017
€4 werden hier mittlerweile nur noch von unten angeguckt.

=> Katastrophe vorerst vertagt

=> ich rate nur: der CEO muss im Oktober gehen (angeblich Vertrag bis 2019), inklusive Chairman


Revenue at $350m
EBITDAs1 at $120m
Group Operating Income1 at $(3)m
Capex at $78m and Free Cash Flow1 at $(24)m
Net debt up at $2,497m at end of June with liquidity down to $315m
Net income at $(170)m

=> es fliesst nach wie vor Geld aus dem Unternehmen.…
CGG and SELARL FHB, represented by Me Hélène BOURBOULOUX, in her capacity as judicial administrator appointed as such by a ruling of the commercial court of Paris dated 14 June 2017, herein announce that in the framework of the meetings held on 28 July 2017 and convened by the latter, the lenders' committee unanimously approved the draft safeguard plan, and the bondholder general meeting at a majority of 93.5% of the creditors who cast a vote.

=> mal Le Figaro durch Google translater jagen:…

He also warned that he did not have enough cash to finance his planned operations until June 2018.
The group spoke of "significant uncertainties" that could raise "significant doubt about its ability to continue its activities" Adding that "the liquidity of the group at 31st June 2017 amounting to 315 million dollars does not allow to finance all the operations of the group at least until 30 June 2018".

But if the proposed financial restructuring plan, including a $ 500 million exercise at the beginning of 2018, is implemented, "the liquidity of the group would be sufficient" to secure this funding, the statement said. At the beginning of June, CGG had found an "agreement in principle" with its main creditors, mainly hedge funds. The agreement provides for the raising of up to $ 500 million of new liquidity, including a $ 125 million capital increase, and new funding of $ 375 million from some of them.

A general meeting of shareholders will be held at the end of October, where the management of CGG will have to convince of the balance of this plan.
24.08.17 14:34:23
Beitrag Nr. 13 ()
Short Squeeze? Wg. Sinopec-Übernahme-Gerücht
in 3 Tagen von EUR3 auf über 5 ???

Aktuell in Paris: EUR5.39!!

...das sah ich nicht kommen - aber scheinbar auch sonst niemand hier so.

Am 22.8. kam das Gerücht auf, das Sinopec interessiert sein könnte:…
1 Antwort
03.10.17 16:34:14
Beitrag Nr. 14 ()
Antwort auf Beitrag Nr.: 55.167.848 von faultcode am 20.06.17 00:48:34
jetzt erst gesehen, dass insolvent;
meine Nummer 62.

19.01.18 14:14:40
Beitrag Nr. 15 ()
Antwort auf Beitrag Nr.: 55.590.628 von faultcode am 24.08.17 14:34:23
wie gewonnen, so zerronnen --> KE

Einfaches Einfügen von wallstreet:online Charts: So funktionierts.

=> was war da los?

16.1. -- CGG issues bullish update, shares rise…
=> CGG emerging from debt restructuring plan

=> 17.1. KE --> sehr langer Artikel:…

CGG launches its share capital increase with preferential subscription rights for an amount of approximately €112.2 million through the issuance of new shares, each with one warrant attached

* Subscription price: €1.56 per new share, each with one warrant attached

* Subscription ratio: 13 ABSAs for 4 Rights

* Subscription period: from January 22, 2018 to February 2, 2018 inclusive

* Trading period for Rights: from January 18, 2018 to January 31, 2018 inclusive

* The transaction is part of CGG's financial restructuring plan and allows the subscribers to take part in the recovery of the sector through the Warrants #2

* The transaction is backstopped by DNCA (in cash) for up to approximately €71.39 million and by the Senior Note holders for the remaining unsubscribed portion (by way of set-off against claims)

ABSA = action à bon de souscription d'action = share with equity warrant

The Warrants #2 will be listed on Euronext Paris separately from the existing shares of the Company, under the ISIN code FR0013309622.

CGG 2018 Rights Offering

=> echte Slalomfahrt hier.
19.01.18 14:27:17
Beitrag Nr. 16 ()
Antwort auf Beitrag Nr.: 55.167.848 von faultcode am 20.06.17 00:48:34
neuer CEO --> es tut sich was
Zitat von faultcode: Ohne neues Management würde ich hier keine Aktie kaufen.

December 4, 2017…

As CGG is now moving towards a new stage, and after 8 years as Chief Executive Officer of CGG, Jean-Georges Malcor has decided, in agreement with the Board of Directors, not to pursue his mandate of Chief Executive Officer once the restructuring process is completed.

The Board of Directors will therefore immediately launch the search for a new Chief Executive Officer.

Jean-Georges Malcor will complete the financial restructuring process in the first quarter of 2018. He will then step down as Chief Executive Officer when his successor is appointed. Jean-Georges Malcor will remain in the company until his retirement on October 1st, 2018 in order to support him/her in taking office.

--> ("geht" vielleicht schon früher - wie so manches Mal in solchen Situationen...)

=> so, jetzt nur noch "Insolvenz-Chairman" Remi Dorval (2005, BoD - present) austauschen.

=> es fängt - trotz allem - hier an interessant zu werden. Und es zeigt(e) sich: Geduld als erste Investoren-Pflicht.
16 Antworten
04.05.18 14:23:11
Beitrag Nr. 17 ()
Antwort auf Beitrag Nr.: 56.768.790 von faultcode am 19.01.18 14:27:17
CGG's BoD elected Philippe Salle as Chairman of the BoD & Sophie Zurquiyah takes up position of CEO
Zitat von faultcode: --> ("geht" vielleicht schon früher - wie so manches Mal in solchen Situationen...)…
Paris, France – April 30, 2018

CGG's Board of Directors, meeting on April 26, 2018, elected Philippe Salle as Chairman of the Board of Directors. Sophie Zurquiyah took up her position of CEO of the Group and was appointed director by the general meeting on the same day.

Following the Board meeting, Philippe Salle said: "CGG is now in good hands. Sophie's skills and in-depth knowledge of our industry and technology complemented by strong leadership are key to leading CGG to a renewed financial return".

Effective April 26, 2018, the composition of CGG's Board of Directors is as follows:

Philippe Salle – Independent director and Chairman of the Board
Sophie Zurquiyah – CEO and director

Helen Lee Bouygues – Independent director
Michael Daly - Independent director
Patrice Guillaume – director representing the employees
Anne-France Laclide-Drouin - Independent director
Colette Lewiner - Independent director
Gilberte Lombard - Independent director
Heidi Petersen - Independent director
Mario Ruscev - Independent director
Robert Semmens - Director

=> na bitte, geht doch! :D

--> werde mal ne kontrollierte Posi hier einnehmen ;)
=> denn:
- da kann immer noch eine weiteres capital raise drohen (z.B. für M&A ;)):

=> hiess es 2016 auch schon "CGG completes rights issue, says has liquidity to weather crisis", so kam die nächste 2018-01 hinterher ;)

--> allerdings steht man für 2017Q4 nun so da:
* Substantial current liquidity: $575m
* Net debt / EBITDA: 1.7x
* FCF positive in Q4 2017
* No debt maturities over the next 5 years
15 Antworten
12.08.18 13:19:41
Beitrag Nr. 18 ()
Antwort auf Beitrag Nr.: 57.695.589 von faultcode am 04.05.18 14:23:11
Zweiter Anlauf?

(--> beim vierten Mal sollte es spätestens klappen ;) )
14 Antworten
12.10.18 16:16:59
Beitrag Nr. 19 ()
Antwort auf Beitrag Nr.: 58.429.256 von faultcode am 12.08.18 13:19:41der CGG ADR (OTC) läuft nun unter Symbol: CGGYY


--> ansonsten: bleibt es beim 4.Anlauf?? --> eher nicht....

13 Antworten
09.11.18 17:48:08
Beitrag Nr. 20 ()
Antwort auf Beitrag Nr.: 58.944.234 von faultcode am 12.10.18 16:16:59
--> "eher nicht" ist noch stark untertrieben:

CGG Announces its 2018 Third Quarter Results…

Net income:
Q2: +USD49.1m
Q3: -USD1.5m
- Schulden sind auch höher geworden ("Net debt")

=> ..und was sagt sie dazu:

Sophie Zurquiyah, CGG CEO, said:

"Our third quarter revenue was up 4% year-on-year, confirming the gradual market recovery.

Geoscience saw robust performance and Multi-Client delivered a high level of after-sales but was impacted by delayed pre-funding recognized in October. Equipment sales increased significantly for land achieving double digit operating income margin. Acquisition continues to suffer from low prices in a commoditized market.

In that context, we remain on track with our 2018 targets based on sizeable year-end Multi-Client opportunities and strong Equipment deliveries."...

=> das Equity attributable to owners of CGG S.A. hat massiv zugenommen ggü. 30.9.2017

=> und ne Roadmap 2021 gibt's auch noch dazu:

CGG presents its 2021 Strategic Roadmap…

Sophie Zurquiyah, CGG CEO, said:
"Our strategic roadmap is focused on ensuring that CGG can produce sustainable returns through the cycles and deliver profitable organic growth.

These objectives will be accomplished by transforming CGG into an asset-light People, Data and Technology Company, and furthering the leadership of our three core differentiated businesses: Geoscience, Multi-Client and Equipment, along with developing new areas for capital-efficient profitable growth.

This will enable CGG to best meet the exploration, development and production needs of our clients, position the company to bring significant value to our shareholders and create a sustainable workplace for our employees."

=> dazu sage ich mal:
• "asset-light" mag zwar "a sustainable workplace for our employees" sein, aber garantiert kein "comfortable workplace for our employees" ;)
3 Antworten
21.12.18 20:35:45
Beitrag Nr. 21 ()
Antwort auf Beitrag Nr.: 59.181.066 von faultcode am 09.11.18 17:48:08
..und noch ein ATL
--> Endspiel?

2 Antworten
26.07.19 17:01:52
Beitrag Nr. 22 ()
Antwort auf Beitrag Nr.: 59.493.039 von faultcode am 21.12.18 20:35:45nein - ein zäher Turnaround:

CGG share | 1,948 €
1 Antwort
12.09.19 23:28:07
Beitrag Nr. 23 ()
Antwort auf Beitrag Nr.: 61.113.526 von faultcode am 26.07.19 17:01:52
CGG Anticipates Q3 2019 Segment Revenue above 0m and Upgrades its 2019 Financial Objectives
doch nun!


Paris, France – September 2, 2019

CGG announced today that its third quarter 2019 segment revenue is expected to be above $350m, based on strong multi-client sales in the range of $160m (including transfer fees) and steady demand for Geoscience technology and Equipment.

Based on these estimates and considering current solid commercial outlook, CGG is raising its full-year 2019 guidance. The Company's 2019 segment revenue is expected to increase by more than 10% year on year with segment EBITDAs margin around 50% and segment operating income around $200m.
As a result, CGG is expecting to generate positive Net Cash Flow this year, for the first time since 2012...
CGG share | 2,268 €
12.09.19 23:49:17
Beitrag Nr. 24 ()
Antwort auf Beitrag Nr.: 58.944.234 von faultcode am 12.10.18 16:16:59
> ~EUR2.5
ich ramm diese Admin-Info mal hier rein -- es ist immer noch mühsam hier Info's zu bekommen


--> das ist zwar nur das International Order Book (IOB) der London Stock Exchange Group, aber immerhin in EUR und auch mit Volumen; Euronext Paris finde ich nicht auf Yahoo finance:

=> damit ergibt sich:

--> das sieht zunächst komisch aus, aber so sieht das Volume at Price eben nach einem Reverse stock split von 1:32 (siehe #2 oben) eben aus

--> mit anderen Worten:
• oberhalb von ~EUR2.5 ist der Weg nach oben praktisch frei!
CGG share | 2,268 €
8 Antworten
20.12.19 00:59:23
Beitrag Nr. 25 ()
Antwort auf Beitrag Nr.: 61.473.590 von faultcode am 12.09.19 23:49:17es ist nicht (mehr) zu übersehen: im Energie-Sektor tut sich was:

CGG share | 2,729 €
1 Antwort
31.01.20 14:52:00
Beitrag Nr. 26 ()
Antwort auf Beitrag Nr.: 62.202.744 von faultcode am 20.12.19 00:59:23CGG haben in den letzten beiden Jahren ihr Geschäftsmodell mMn spürbar verändert

CGG Provides Full Year 2019 & Q4 Financial Update…

CGG share | 2,570 €
10.08.20 22:20:13
Beitrag Nr. 27 ()
Antwort auf Beitrag Nr.: 61.473.590 von faultcode am 12.09.19 23:49:17SeKtOr-ROTATIoN ?


CGG: Announces the Signature of an Agreement for the Sale of its Multi-Physics Business…
CGG announced today that it has entered into a Sale and Purchase Agreement (SPA) with Xcalibur Group for the sale of CGG’s Multi-Physics business.

The SPA provides for the sale of CGG’s entire Multi-Physics business, except its multi-client library, and is subject to approval by the competent regulatory authorities.

The closing of this transaction is expected in Q4 of this year.

CGG share | 0,848 €
5 Antworten
05.11.20 14:15:48
Beitrag Nr. 28 ()
CGG share | 0,513 €
4 Antworten
04.03.21 17:56:13
Beitrag Nr. 29 ()
Antwort auf Beitrag Nr.: 65.605.805 von faultcode am 05.11.20 14:15:48Achtung!

=> für den "ESG-bewegten" Anleger muss so ein Chart quasi der Horror sein

Das soll aber nicht mein Problem sein ;)

Der User R-BgO geht mir echt ab.

Ein Opfer der damaligen Tesla-Manie geworden und von Leuten, die sich diese voreilig und uninformiert zu eigen gemacht haben.
CGG share | 1,080 €
09.03.21 22:30:48
Beitrag Nr. 30 ()
Antwort auf Beitrag Nr.: 65.605.805 von faultcode am 05.11.20 14:15:48CGG Announces its Q4 and Full Year 2020 Results



Commenting on these results, Sophie Zurquiyah, CGG CEO, said:
"Looking forward, as global economies continue to progressively recover and with oil price stabilizing above $50/bbl, we expect CGG’s performance to benefit from the proactive cost reduction actions and gradually strengthen in the second half of the year, delivering positive net cash flow in 2021.“

CGG share | 1,179 €
2 Antworten
09.03.21 22:58:23
Beitrag Nr. 31 ()
Antwort auf Beitrag Nr.: 67.387.901 von faultcode am 09.03.21 22:30:48

=> das Working Capital YoY schrumpfte um -23%, die Bilanz insgesamt um -16% und natürlich, das Equity kam stärker unter Druck mit -28%

Einen Lichtblick in so einer Bilanz könnte man vor dem Hintergrund gestiegener Ölpreise in den auch gestiegenen Inventories and work-in-progress, net sehen mit +19%.

=> die Anleger freuen sich trotzdem:

Wobei, ein Deep dive in den Geschäftsbericht 2020 wäre hier mal angebracht, auch um zu sehen, was diese ganzen Liabilities sind.

Der heißt hier:

Including the annual financial report

..und mit 316 PDF-Seiten unter "2020 Q4 Quarterly Report" zu finden:
CGG share | 1,180 €
1 Antwort
09.03.21 23:57:30
Beitrag Nr. 32 ()
Antwort auf Beitrag Nr.: 67.388.186 von faultcode am 09.03.21 22:58:23
"Asset-light business model"
z.B. zu den Other non-current liabilities mit EUR44.4M:

• davon sind EUR42M eine Off-Market Component :eek:

..und die sind ein Operating debt in relation to Capacity Agreement

..und die sind in der "NOTE 2 SIGNIFICANT EVENTS, ACQUISITIONS AND DIVESTITURES" auf 4 Seiten erklärt!

Das Wort "Capacity Agreement" taucht in diesem Dokument 57-mal auf!

Da könnte ich mich stundenlang durchwursteln (und das ist nur ein mir auffälliger Posten), aber hier geht es um das Marine Closing mit Shearwater:

On January 8, 2020 (the “Marine Closing”), Shearwater acquired all of the shares in Global Seismic Shipping AS (“GSS”) (the indirect owner of five high end vessels) and five sets of streamers, and the Capacity Agreement (described below) entered into force.

Shearwater GeoServices is a global provider of powerful geophysical marine seismic acquisition and processing services from sensor to image --> --> gehört teilweise Schlumberger

..und das sieht so aus:

Capacity Agreement

The main terms of the Capacity Agreement, the contract signed with Shearwater for the provision of marine seismic data
acquisition services, requires CGG to:
— Use Shearwater's vessel capacity over a period of five years, for an average of 730 days per year;
— Pay a pre-agreed day rate for the first 2.5 years and the higher of market rate or the pre-agreed day rate for the
remaining 2.5 years;
— Reimburse Shearwater for project-related operational costs and fuel ; and
— Compensate Shearwater for days during which more than one of its high-end seismic vessels are idle for a maximum
of three vessels (the “Idle Vessel Compensation”).

The pre-agreed day rate as negotiated in summer 2019 was higher than the estimated average market day rate at the Marine closing date. Thus, an off-market operational liability of US$(69.3) million was recognized at the Marine Closing date representing the net present value of the positive difference between the pre-agreed rate and the estimated market rate over the five-year contractual term. See note 12.

The Idle Vessel Compensation gave rise to a US$(78.7) million financial liability at the Marine Closing date representing the net present value of expected payments under this clause. The expected payments were estimated based on Shearwater fleet utilization assumptions over the five-year commitment period. See note 14.

=> dieser Exit aus den Schiffen ist eben dem neuen “asset-light” business model geschuldet

Aber wie man sieht, so ganz ohne Abnahme-Verpflichtungen bei Shearwater (und wem noch alles?) geht das nicht.

Daneben sitzt CGG aber auch auf Shearwater shares:

As a result of these transactions, CGG's statement of financial position will include the following items:
— US$52.9 million in Vendor Notes at the Marine Closing converted into Shearwater Shares on December 29, 2020 and valued at US$13.7 million at 31, December 2020;
— US$(148.0) million in liabilities in respect of the Capacity Agreement as at the Marine Closing date, amounting to US$(127.2 million) at December 31, 2020; and
— US$(4.6) million for the fair value of the Eidesvik Put Option as at the Marine Closing, amounting to US$(16.1) million at December 31, 2020.

..und daher wundert es mich nicht, wenn es nun z.B. heißt:

Societe Generale downgrades CGG to Hold, sees share price 'capped' by debt
CGG share | 1,180 €
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CGG - neue WKN nach reverse-split