Business
Results for the year ended 31 December 2022
Results for the year ended 31 December 2022.
About this update from Hunting Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n For Immediate Release\n \n \n \n \n \n \n 2 March 2023\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Hunting PLC\n \n \n \n \n \n \n (\"Hunting\" or \"the Company\" or \"the Group\")\n \n \n \n \n \n \n \n \n Results for the year ended 31 December 2022\n \n \n \n \n \n \n \n Strong performance in 2022 and well positioned for 2023 with demand\n \n \n \n \n continuing to improve for all segments\n \n \n \n \n \n \n Hunting PLC (LSE:HTG), the international energy services group, today announces its results for the year ended 31 December 2022.\n \n \n \n \n \n \n Financial Highlights\n \n \n \n \n \n \n \n \n \n \n ·\n Order book increased by 124% to $473.0m.\n \n \n \n \n \n \n ·\n Revenue increased by 39% to $725.8m.\n \n \n \n \n \n \n ·\n Gross margin improved to 24% from 12%.\n \n \n \n \n \n \n ·\n Return to profitability with EBITDA of $52.0m and adjusted profit from operations of $14.6m.\n \n \n \n \n \n \n ·\n Total dividends declared in the year of 9.0 cents per share.\n \n \n \n \n \n \n \n \n \n \n Financial Summary\n \n \n \n \n \n \n Financial Performance measures as defined by the Group*\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n \n \n \n 2021\n \n \n \n \n Variance\n \n \n \n \n \n \n Revenue\n \n \n \n \n \n $725.8m\n \n \n \n \n \n $521.6m\n \n \n \n \n +39%\n \n \n \n \n \n \n EBITDA**\n \n \n \n \n \n $52.0m\n \n \n \n \n \n $3.1m\n \n \n \n \n +$48.9m\n \n \n \n \n \n \n Adjusted profit (loss) from operations**\n \n \n \n \n \n $14.6m\n \n \n \n \n \n $(35.1)m\n \n \n \n \n +$49.7m\n \n \n \n \n \n \n Net assets\n \n \n \n \n \n $846.2m\n \n \n \n \n \n $871.3m\n \n \n \n \n -$25.1m\n \n \n \n \n \n \n Total cash and bank**\n \n \n \n \n \n $24.5m\n \n \n \n \n \n $114.2m\n \n \n \n \n -$89.7m\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Adjusted diluted earnings per share**\n \n \n \n \n \n 4.7 cents\n \n \n \n \n \n (27.1) cents\n \n \n \n \n +31.8 cents\n \n \n \n \n \n \n Final dividend proposed***\n \n \n \n \n \n 4.5 cents\n \n \n \n \n \n 4.0 cents\n \n \n \n \n +0.5 cents\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n &nbs...