Anton Oilfield Services Group · HKEX:3337
Anton Oilfield Services — H1 2021 Earnings Presentation
23 slides from Anton Oilfield Services's earnings presentation, Aug 27, 2021
Slide 1: 2021 Interim Results Update
2021 Interim Results Update 27 August, 2021 1
Slide 2: Disclaimer
Disclaimer ⚫ This presentation has been prepared by Anton Oilfield Services Group (the “Company”) for its corporate communications and general information only and may not be reproduced or redistributed to any person without the explicit permission of the Company. This presentation does not constitu
Slide 3: Agenda
1H21 Performance Overview Agenda 2H21 Outlook Q&A 3
Slide 4: Performance Overview
Performance Overview Profit attributable to Revenue Free cash flow owners of the Company (RMB MN) (RMB Mn) (RMB Mn) 1,453.9 1,421.3 -2.2% 42.8 147.0% 1H20 1H21 1H20 1H21 1H20 1H21 67.0% (69.2) (91.0) (210.0) 4
Slide 5: Performance Highlights
Performance Highlights The industry is showing signs of bottoming out and some markets are 01 growing against the trend Further accelerated the asset-light transformation, improved project 02 return, inspection services showed a strong growing signs 03 Oilfield management project delivered outstandi
Slide 6: Further accelerated the asset-light transformation, improved project return
Further accelerated the asset-light transformation, improved project return, inspection services showed a strong growing signs Domestic revenue stood stable Iraqi revenue gradually recovered Breakthrough in other overseas markets (RMB million) (RMB million) (RMB million) -0.6% 710.2 706.0 547.6 506.
Slide 7: Asset-light transformation: oil production management and inspection services
Further accelerated the asset-light transformation, improved project return, inspection services showed strong growing trend Oil production management revenue Inspection services revenue Gross margin (RMB million) (RMB million) 30.8% 28.7% 405.6 476.5 109.3 79.5 1H20 1H21 1H20 1H21 1H20 1H21 ⚫ An in
Slide 8: Majnoon oilfield IFMs contract successfully renewed
Oilfield management project delivered outstanding performance, the IFMs contract in Iraqi Majnoon oilfield successfully renewed 2018 2019 2020 2021 Won the project and took over the oilfield Celebrated one-year take-over anniversary Complete the one-year extension Successfully renewed the contract a
Slide 9: Core construction strengthened, cost control prominent, shareholder return improved
Comprehensively strengthen the core construction, the cost control effect is prominent, and the shareholder return improved Do everything to improve operational Staff costs reduced efficiency and reduce costs (RMB million) 4.5% Decentralization 385.2 368.0 1H20 1H21 Open-ended Information Net profit
Slide 10: Cash flow improved significantly, debt structure optimized
Cash flow improved significantly, debt structure optimized Free cash flow (FCF) continued to improve Improved debt structure and reduced risks (RMB million) （ USD million) Before 289.9 1H20 1H21 Operating cash flow 95.4 93.2 ⚫ Split into two bonds with different maturity and different size Interest
Slide 11: Agenda
1H21 Performance Overview Agenda 2H21 Outlook Q&A 11
Slide 12: 2H21 Outlook
2H21 Outlook 01 Further pursue upgrade and transformation for a brand-new Anton 02 Create an ecological platform and a multi-subject business layout Build a service model that integrates all businesses and transform 03 traditional services by integrating new technologies Deepen the three core-compet
Slide 13: Continuous progress towards the new Anton vision
Continuous progress towards the new Anton vision International markets Being Competitive in global oil and gas emerging markets, will continue to cultivate mature market customers, and seize market share International Full-round Full-round service provider Markets Service Provider Is now a full-roun
Slide 14: Create an ecological platform and a multi-subject business layout
Create an ecological platform and a multi-subject business layout Engineering partners Professional engineering Anton’s multi-subject business services technology Geological partners Oilfield management Oilfield management partners Digitalization partners Digitalization and inspection Financial part
Slide 15: Build a service model integrating all businesses with new technologies
Build a service model that integrates all businesses and transform traditional services by integrating new technologies Geological Fine Chemicals Professional engineering technology Smart manufacturing Digitalization technology 15
Slide 16: Deepen three core-competitiveness construction measures
Deepen the three core-competitiveness construction measures, improve management efficiency Information management ◆Information management: Further improve the information management capabilities and reduce costs. ◆Refined Operation: Core-construction Continue to strengthen and promote refined manage
Slide 17: Promote sustainable development, upgrade ESG rating
Promote sustainable development in an all-around way, upgrade ESG rating, become an industry model Governance ⚫ G Continue to strengthen the implementation of ESG requirements at various management levels ⚫ Promote the development of low-carbon solutions Environment Society E ⚫ Reduce carbon emissio
Slide 18: Summary
Summary We are expecting effective controlling over COVID-19 and rising oil prices in the second half, on the basis of that, the industry will recover soon. We stay committed to the core operating targets of cash flow and return on equity to achieve high-quality and robust growth! We will furt
Slide 19: Agenda
1H21 Performance Overview Agenda 2H21 Outlook Q&A 19
Slide 20: Appendices
Appendices 20
Slide 21: Appendix I: Consolidated Income Statement
Appendix I: Consolidated Income Statement As at 30 June (RMB million) 2021 2020 Revenue 1,421.3 1,453.9 Cost of sales (982.9) (1,036.5) Gross profit 438.4 417.5 Other gains 13.1 8.0 Selling expenses (71.0) (96.5) Administrative expenses (91.2) (87.5) Research and development expenses (19.9) (18.9) S
Slide 22: Appendix II: Balance Sheet
Appendix II: Balance Sheet RMB million June 30, 2021 June 30, 2020 Property, plant and equipment 1,993.0 2,099.4 Right of using assets 119.1 138.0 Goodwill 242.0 242.0 Intangible assets 261.0 273.7 Interest in a joint venture 3.5 3.9 Interest in an associate 2.0 2.0 Prepayment and other receivables
Slide 23: Appendix III: Cash Flow Statement
Appendix III: Cash Flow Statement As at 30 June(RMB million) 2021 2020 Net cash used in operating activities 93.2 95.4 Net cash used in investing activities (61.2) (122.9) Net cash received/(used) in financing activities (256.0) (991.5) Net decrease in cash and cash equivalents (224.0) (1,019.0) Cas
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