CGG - comment

Our thesis for CGG remains unchanged, but the company had a better Q4 than we modelled due to higher-than-anticipated orders in the Sensing and Monitoring business. Lower than expected pre-funding meant that cash on hand at year-end was only marginally above our model despite USD63m from the sale of part of the earth library. We expect a more robust operating environment in 2023, and the Sensing and Monitoring figures point to orders beginning to flow. CGG will publish its full results on March 2 after the market close.

https://www.cgg.com/newsroom/press-release/cgg-provides-q4-full-year-2022-financial-update