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Strong Improvement In CGGVeritas Third Quarter 2012 Results

Stocks in this article: CGV GA

Financial Charges

Financial charges were $38 million and corresponded mainly this quarter to the sole Cost of Debt. The total amount of interest paid during the quarter was $7 million.

Taxes were at $41 million.

After the impact of income in companies accounted for under equity method totaling $13 million, Group Net Income stood at $48 million compared to $40 million in the third quarter of 2011.

Net Income attributable to the owners of CGGVeritas was at $44 million/€35 million after the impact of minority interests totaling $4 million/€3 million. EPS was positive at €0.23 per ordinary share and positive at $0.29 per ADS.

Cash Flow

Cash Flow from Operations

Cash flow from operations was at $171 million, up 51% compared to $113 million in the third quarter of 2011.

Capex

Global Capex stood at $196 million this quarter, up 13% year-on-year.

  • Industrial Capex was $70 million, down 33% year-on-year.
  • Multi-client Cash Capex was $126 million, up 83% year-on-year with a 71% prefunding rate.
In million $   Second Quarter   Third Quarter
  2012   2012   2011*
Capex   179   196   173
Industrial   97   70   104
Multi-client Cash 82 126   69
Marine MC 41 87 22
Land MC   41   39   46
 

*Restated figures

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