CGG - Reports Q4 Vessel production rate 89% v 92% y/y; Vessel availability rate 92% v 87% y/y
- Guides FY15 net debt $2.50B v $2.54B q/q
- The Group's Liquidity, corresponding to the sum of the cash balance and the undrawn portion of the revolving credit facilities, is expected to amount to $420 million by December-end, to be compared to $440m by end of September 2015.
- Over the fourth quarter, the cash performance was notably sustained by strong multi-client revenue at $242 million, by Sercel sales at $102 million, and by a tight cost and working capital management.