Slide 1: Archer Q4 2024 results
Archer Q4 2024 results 27 February 2025
Slide 2: Disclaimer – forward looking statements
Disclaimer – forward looking statements Cautionary Statement Regarding Forward-Looking Statements In addition to historical information, this presentation contains statements relating to our future business and/or results. These statements include certain projections and business trends that are “fo
Slide 3: At a glance
At a glance Revenue EBITDA $m $m CAGR +14% CAGR +24% 1,400-1,450 155-170 1,301 1,169 135 970 117 86 $1.3bn $135m $3.6bn ’22 ’23 ’24 ’25G ’22 ’23 ’24 ’25G ’24 Revenue ’24 EBITDA Backlog1 Cash contribution Leverage ratio $m CAGR +25% 100-120 5.3x 50+ years 40 5,000+ 73 Operational experience Locations
Slide 4: Record Q4 / Subsequent events
Revenue ($m) +14% +11% Record Q4 1 500 1 301 350 305 348 1 169 300 1 000 250 Q4 Revenue of $348.3 million; up 14% YOY 200 Q4 EBITDA before exceptional $40.3 million, up 21% YOY 150 289 1 097 252 500 977 Record Q4 EBITDA of $36.2 million, up 17% YOY 100 50 2024 EBITDA of $134.8 million, up 15% YOY 0
Slide 5: Platform Operations
Platform Operations Financials Revenues ($m) EBITDA ($m) • Total revenue decreased by 12%, ending at 200 25 $137 million, as we operated 2 fewer rigs 151 155 compared to Q3 142 140 20 150 137 15 • EBITDA of $12.7 million reflects a reduction 100 compared to Q3 due to additional cost linked 10 to sta
Slide 6: Well Services
Well Services Revenues ($m) EBITDA ($m) Financials +24% • Record revenue of $95 million, up $15 million 105 15 from last quarter 100 95 14 95 • EBITDA of $14.6 million, increased by $2.8 90 86 13 million compared to Q3 85 83 12 80 80 • 21.5% EBITDA margin1 76 75 11 75 71 70 69 10 65 65 65 62 63 9 60
Slide 7: Land Drilling
Land Drilling Financials Revenues ($m) EBITDA ($m) • Revenue moderately increased by 2% over the quarter, to $100.8 million +73% 120 12 97.3 99.2 100.8 • EBITDA increased by 4% compared to Q3, and by 100 10 73% compared to Q4 2023, ending at $9.6 million 78.2 78.5 80 8 in the quarter on the back of
Slide 8: Condensed profit & loss
Condensed profit & loss ($ million Q4 2024 Q4 2023 2024 2023 Operating revenues 287.9 252.4 1,096.9 977.2 Reimbursable revenue 60.4 52.7 203.7 192.1 • Total revenue of $348.3 million in Q4 2024 represent Total Revenues 348.3 305.1 1,300.7 1,169.3 an increase of $43.1 million from same quarter last 4
Slide 9: Condensed balance sheet
$ million 31.12.2024 31.12.2023 Cash and cash equivalents 76.8 52.1 Condensed balance sheet Restricted cash 3.8 3.5 • Cash and cash equivalents of $76.8 million, Accounts receivables 187.8 183.8 increased by $24.7 million compared to year Inventories 75.8 75.0 end 2023 Other current assets 60.0 40.4
Slide 10: Archer's capital allocation strategy
Archer’s capital allocation strategy Balance sheet Capex M&A Shareholder returns Strong balance sheet and Capex maintained at Selective accretive Shareholder healthy debt levels moderate levels bolt-on acquisitions returns • Target a long-term leverage • Targeting total capex of 3-4% of • Discipline
Slide 11: Appendix
Appendix
Slide 12: Key financials
Key financials Revenue [$m] EBITDA [$m] 349 350 335 38 Reimbursable 36.2 36 34.9 Operational revenue 305 308 309 300 34 32.8 32 30.9 30.9 250 289 30 284 260 265 252 28 200 26 Q4-23 Q1-24 Q2 24 Q3 24 Q4 24 Q4-23 Q1-24 Q2 24 Q3 24 Q4 24 NIBD [$m] CAPEX [$m] 24.7 25 400 391 392 386 385 382 20 18.2 18.1
Slide 13: Condensed profit and loss statement (unaudited)
Condensed profit and loss statement (unaudited) (Figures in $ million) Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Operating revenues 252.4 260.2 265.4 283.5 287.9 Reimbursable revenue 52.7 48.1 43.7 51.6 60.4 Total Revenues 305.1 308.3 309.0 335.1 348.3 EBITDA before exceptional items 33.4 32.9 32.2 36.4 40.3 To
Slide 14: Condensed balance sheet (unaudited)
Condensed balance sheet (unaudited) $ million 31.12.2023 31.03.2024 30.06.2024 30.09.2024 31.12.2024 Cash, cash equivalents & restricted cash 55.6 57.8 58.4 58.6 80.6 Accounts receivables 183.8 182.5 173.6 188.2 187.8 Inventories 75.0 72.3 70.6 69.8 75.8 Other current assets 38.7 49.1 56.0 60.3 60.0
Slide 15: Condensed cash flow statement – last 5 quarters (unaudited)
Condensed cash flow statement – last 5 quarters (unaudited) (Figures in $ million) Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Operating activities 18.7 14.3 24.4 19.7 39.4 Investing activities (22.7) (8.6) (23.4) (20.1) (61.9) Financing activities (19.3) (0.6) (0.5) (1.6) 52.2 FX effect 2.6 (2.9) - 2.2 (7.6) Tot