After wiping $1.9B of debt off the books the company lost $40.8M in H1 2018 (using the standard IFRS accounting rules which have been adopted by other seismic players). I would think if CGG can't become profitable in Q3 they will have to start planning to shut the doors. Thoughts ?
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Why they are still not profitable if according to their employees on social media they are overwhelmed by all kinds of projects including the recent one 'Rich-innovative wide azimuth' survey in UK?
I think this is a relevant question for the finance people who visit this site and to the employees that would be affected by the potential "LAYOFF"
How relevant is this question on a HR related site ?
Debt burden is halved though interest burden is about the same level ...
I am not an accountant so do not understand IFRS rules. The quarterly/yearly financial figures must leave most employees in the dark about the true CGG situation, which is probably exactly how the board would prefer us to be.