The following is a summary of the CGG (CGGYY) Q4 2023 Earnings Call Transcript:

Financial Performance:

• CGG reported stable Q4 revenue of $320 million with an EBITDA of $122 million.

• For the year 2023, the company's revenue showed a 21% increase, reaching $1.125 billion with net cash flow at $32 million.

• Various business segments showed mixed performance with CGG's Geoscience segment increasing by 41% to $98 million, but a decline in Earth data by 29% to $103 million.

• For the full year, CGG's EBITDA was $400 million with a net income of $16 million and capital expenditure reduced by 11% to $232 million.

• The company expects financial results for 2024 to mirror those of 2023, with anticipated net cash flow of around $100 million by 2025.

Business Progress:

• CGG's new business ventures generated $90 million in 2023 with aspirations for further growth.

• The company has succeeded in reducing carbon emissions by 58% since 2019, adhering to ESG targets.

• CGG leads in technology in Geoscience, Earth Data, and Sensing & Monitoring businesses and anticipates growth in select new business markets.

• Revenue from CGG's Data Hub increased fourfold in 2023 due to strong AI and machine learning capabilities.

• CGG has plans for investing in core businesses and initiating a debt buyback program as part of their 2024-2025 financial roadmap.

More details: CGG Sponsored ADR IR

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