Abl Group Asa · OSL:ABL
Abl Group Asa — Merger or Acquisition (March 2023)
15 slides from Abl Group Asa's merger presentation, Mar 20, 2023
Slide 1: ABL Group acquires AGR
ABL Group acquires AGR 20th March 2023 abl-group.com
Slide 2: Brief summary of announcement
Brief summary of announcement • ABL Group has entered into an agreement to acquire 100% of AGR • The transaction is financed through issue of shares to sellers Akastor, as well as AGR’s lending banks DNB and Nordea • All interest bearing debt in AGR is settled as part of transaction, creating a stro
Slide 3: ABL Group to acquire AGR
ABL Group to acquire AGR 1 Consolidates our well & reservoir services creating better scale, CONSOLIDATION a broader offering, and a stronger leading position in key markets 2 NEW SERVICE Adds a leading resource solutions offering servicing O&G, and positioned for growth in talent tight offshore win
Slide 4: AGR and ABL Group's pro forma combined financial profile
AGR and ABL Group’s pro forma combined financial profile Combined Group 235 250 145 Revenue 1,2 77 151 168 68 84 82 (USDm) 2020 2021 2022 2020 2021 2022 2020 2021 2022 24 18 18 Adj. EBITDA3 6 13 4 5 6 10 (USDm) 2020 2021 2022 2020 2021 2022 2020 2021 2022 20 Adj. EBIT3 5 10 15 2 3 5 7 13 (USDm) 2020
Slide 5: Transaction overview
Transaction overview Purchase price and settlement • ABL Group acquires 100% of shares in AGR AS from a subsidiary of Akastor ASA at EV NOK 262.5 million Enterprise value 262.5 Share consideration 272.5 Net cash and excess NWC 90.4 Cash consideration1 80.4 • Settled through issuance of 18.2 million
Slide 6: ABL Group – growth snapshot
Revenue split ABL Group – growth snapshot Overview Main market sector and revenue split2 • ABL Group offers independent energy and marine consultancy to the global Oil & Gas Renewables Maritime renewables, maritime and oil and gas sectors • Clients include insurance companies, financial institutions
Slide 7: AGR positioned for growth within the ABL Group
Revenue split AGR positioned for growth within the ABL Group EBITDA split Overview Main business streams and revenue & EBITDA split3 • AGR is a multi-disciplinary engineering consultancy and software provider focused Consultancy Well & Reservoir4 Software on: • Well management • Specialist multi-dis
Slide 8: AGR brings a world of expertise & experience
AGR brings a world of expertise & experience A globally recognised brand within well consultancy, scalable through ABL Group’s global reach 560+ well projects delivered across 6 continents 200+ wells decommissioned 2500+ wells reviewed for pore pressure stability AGR office Projects completed 8
Slide 9: AGR's capabilities
AGR’s capabilities Drilling Project Decommissioning Integrated Reservoir Consultant & Operations and Low carbon Drilling Management Supply Chain Management & Permanent Wellsite Geology solutions Software & Well Engineering Asset Evaluation Hires Outsourced Drilling P&A, Decom- People and materials G
Slide 10: Potential to grow and globalise services through ABL Group's global network
Potential to grow and globalise services through ABL Group's global network Globally recognised brand, Strengthen current position. Well Management Active In Australia leading position in Australia Globalise through ABL Group's network Strong niche position in ‘high end’ O&G resourcing Resource in A
Slide 11: Opportunity
AGR acquisition facilitates accelerated organic growth in the energy transition 1 2 3 4 AGR generic time, cost, AGR have a large AGR places ~300 people AGR & ABL existing Business Existing risk and program geoscience team in into client organisations – business in CCUS & management software geology
Slide 12: Benefits to all stakeholders
Benefits to all stakeholders Customers Employees Shareholders ✓ New capabilities and broader suit of ✓ Better career prospects at a larger, ✓ Accretive acquisition with strong services offered global and more diversified company industrial rationale more exposed to the energy transition ✓ Increased
Slide 13: A track record of successful consolidation
A track record of successful consolidation Through targeted acquisition and organic growth, we have built a comprehensive family of Energy and Marine consultancy companies who are renowned in their field offering services that are both complementary and interconnected. Together we are ABL Group. 201
Slide 14: ABL Group to acquire AGR
ABL Group to acquire AGR 1 Consolidates our well & reservoir services creating better scale, CONSOLIDATION a broader offering, and a stronger leading position in key markets 2 NEW SERVICE Adds a leading resource solutions offering servicing O&G, and positioned for growth in talent tight offshore win
Slide 15: abl-group.com
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