Welcome to our dedicated page for CGG news (Ticker: CGG), a resource for investors and traders seeking the latest updates and insights on CGG stock.
CGG (Viridien) delivers cutting-edge geoscience solutions through seismic imaging and digital technologies that address global energy transition needs. This dedicated news hub provides investors and industry professionals with essential updates about the company's technological advancements and strategic initiatives.
Access real-time announcements covering operational milestones, including subsurface data innovations, sensor technology deployments, and sustainable resource management developments. Our curated collection features earnings reports, partnership disclosures, and progress updates on digital transformation projects critical to energy and infrastructure sectors.
Stay informed about CGG's leadership in geophysical surveying and Earth data analytics through verified press materials. The repository serves as a reliable source for tracking the company's contributions to responsible resource exploration and advanced seismic processing methodologies.
Bookmark this page for streamlined access to CGG's latest corporate communications, ensuring you never miss developments in MEMS sensor applications or integrated subsurface imaging solutions. Regular updates provide ongoing insights into how the company shapes data-driven decision-making in complex geological environments.
On May 15, 2024, shareholders approved changing CGG's corporate name to Viridien at the Annual General Meeting. CEO Sophie Zurquiyah stated that the new name connects the company's history to its future, positioning it for accelerated growth in advanced technology, digital, and earth data sectors.
The official brand launch will occur on June 10 at the EAGE Annual Conference in Oslo. Viridien will focus on core businesses like Geoscience, Earth Data, and Sensing & Monitoring, as well as expanding into low-carbon markets such as Minerals & Mining and CCS. Additionally, Viridien aims to enter new markets, including High-Performance Computing (HPC) and Infrastructure Monitoring.
CGG announced its Q1 2024 results, highlighting a strong start to the year with a revenue of $273 million, up 30% year-on-year, and adjusted EBITDAs of $106 million, up 58% year-on-year.
Net cash-flow reached $30 million, and the company reported a group net loss of $3 million, an improvement from last year’s $16 million loss. Segment revenues showed notable growth across Geoscience ($88 million), Earth Data ($97 million), and Sensing & Monitoring ($89 million).
CGG also benefited from a recent credit rating upgrade by S&P Global Ratings. Despite some financial pressures, such as $16 million in fees from contractual vessel commitments, CGG has reaffirmed its 2024 financial targets.
CGG has launched an AI Cloud solution powered by NVIDIA to optimize AI and HPC workloads for data-intensive industries. The solution combines cutting-edge hardware with a tailored software environment and expert management to enhance client productivity and efficiency.
CGG has announced an alliance with Baker Hughes to offer carbon capture & storage solutions, aiming to support the rapid increase of CCS projects worldwide. The collaboration intends to provide high-quality end-to-end solutions for screening, selecting, characterizing, and monitoring potential carbon storage sites. By combining expertise and technologies, the alliance aims to provide efficient and cost-effective solutions for operators.
CGG, a French company, disclosed the total number of voting rights and shares as of April 30, 2024. The total number of issued shares is 713,676,258, with 715,923,854 actual voting rights and 715,948,850 theoretical voting rights. The company's shares have equal voting rights, excluding treasury shares and those held for over two years, which have double voting rights.
