Summary of CGG SA 1H24 Results and Analysis for DUG
CGG SA Performance:
- Revenue Growth: CGG's Geoscience segment grew by 8% year-on-year (YoY) with 11% external revenue growth in Q1.
- Market Share: CGG claims a 40% market share but is losing ground compared to DUG, which saw a 39% growth.
- Backlog Increase: CGG's backlog increased by 23% since the end of last year, indicating visibility for gradual growth.
Industry and Competitive Landscape:
- Industry Growth: CGG management remains confident about the industry's growth, citing increasing global exploration activities.
- Technological Advances: CGG's use of advanced technologies like elastic full waveform inversion and AI/ML techniques is expanding geographically and across various geologic settings.
- Low Carbon Initiatives: Growth is noted in CCUS (carbon capture, utilization, and storage) and Minerals & Mining sectors, with increasing demand for reservoir screening and imaging technologies.
- Geographic Expansion: Interest from international oil companies (IOCs) is increasing, with new exploration activities in frontier areas like Suriname, Namibia, and Uruguay.
Market Dynamics:
- Competitor Impact: The merger between PGS and TGS is causing some clients to favor CGG due to concerns over reduced competition.
Outlook:
- Steady Growth: CGG anticipates continued gradual growth throughout the year with solid activity in high-end projects and increasing order intake.
Key Takeaways for DUG:
Ran a report through chatGPT
- Market Position: DUG's significantly higher growth rate (39%) suggests it is gaining market share at the expense of CGG.
- Competitive Advantage: DUG's robust performance compared to CGG highlights its competitive edge in the seismic data processing and imaging market.
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- Ann: Q3 FY24 Business Update
Ann: Q3 FY24 Business Update, page-24
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Last
$2.45 |
Change
0.050(2.08%) |
Mkt cap ! $289.4M |
Open | High | Low | Value | Volume |
$2.41 | $2.45 | $2.35 | $3.163M | 1.323M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 8412 | $2.38 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.46 | 8412 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 8412 | 2.380 |
3 | 16726 | 2.370 |
2 | 12649 | 2.360 |
2 | 12496 | 2.350 |
2 | 27928 | 2.340 |
Price($) | Vol. | No. |
---|---|---|
2.460 | 8412 | 1 |
2.500 | 9845 | 1 |
2.520 | 286 | 1 |
2.530 | 3677 | 1 |
2.570 | 856 | 1 |
Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
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