CGG Reports Earnings Results for the Fourth Quarter and Full Year 2017; Provides EBITDA Guidance for the Year 2017
For the year 2017, net debt amounted to $2.640 billion. However the cash generation is negative in 2017, as expected, due to lack of positive change in working capital versus 2016.
For the year 2017 Group expects EBITDAs (before restructuring costs) should be higher than expected, showing an increase above 10%, instead of an expected stability compared to 2016 EBITDAs of $328 million, for a less favorable cash generation.