Expro Group Holdings N.v. · NYSE:XPRO

Expro — Q4 2021 Earnings Presentation

23 slides from Expro's earnings presentation, Mar 3, 2022

  1. Slide 1: Expro Q4 2021

    €3 —ExPRO Q4 | 2021 NYSE: XPRO

  2. Slide 2: Disclaimer

    Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this presentation that address activities, e

  3. Slide 3: Expro: A Full-Cycle Energy Services Leader

    Expro: A Full-Cycle Energy Services Leader Capitalizing on our increased scale, broad portfolio of solutions, global operating footprint and through-cycle capabilities A diversified Future facing Significant cost Strong financial Delivered offering across technologies and revenue profile with outsta

  4. Slide 4: 4Q 2021 Company Highlights

    4Q 2021 Company Highlights Consolidated 4Q revenue increased 18% year-over-year (compared to pro forma 4Q 2020) Adjusted EBITDA increased 12% sequentially (compared to pro forma 3Q 2021) Customer activity levels have continued to improve across almost all segments and geographies Notable Technology

  5. Slide 5: Revenue Balanced by Region and Area of Capability

    Revenue Balanced by Region and Area of Capability 4Q 2021(1) Revenue by Geographical Market ($m) 4Q 2021(1) Revenue by Area of Capability ($m) $296 $296 Well Management (2) Well Construction Asia Pacific North & (APAC) Latin America $100 (NLA) $51 $112 $184 $49 Middle East Europe & Sub North Africa

  6. Slide 6: 4Q 2021 Regional Highlights

    4Q 2021 Regional Highlights Middle East & North Africa Middle East & North Africa Secured a $90m contract in Algeria for the Carried out a large trace element provision of Multi-Phase Pumps to allow campaign supporting the design of a enhanced production from challenging future gas plant in Iraq. pr

  7. Slide 7: Customer and Technology Highlights

    Customer and Technology Highlights iTONG First automated tong Launched Galea™ - Won the Hart Energy’s Successfully completed a Site Expro passes the half system (iTONG) the world’s first fully E&P 2021 Special Integration Test (SIT) of a million hours of data commissioned, which autonomous well Meri

  8. Slide 8: Synergies: A Near-term Opportunity for Margin Expansion

    Synergies: A Near-term Opportunity for Margin Expansion Integration plan on-track with $80-$100M in merger synergies expected within 24-36 months; +50% of initial $55 million of synergies opportunity identified and actioned in Q4 2021 $70M Cost Synergies $10-$30M Revenue Synergies 1 Cost synergies R

  9. Slide 9: Making Significant Progress to Realize Expected Cost Synergies

    Making Significant Progress to Realize Expected Cost Synergies Identified and actioned on +50% of expected $55 million in first 12-month cost savings Total Expected Cost Synergies ($m) Well on track $70 Expected in first to achieve 24-36 months total expected cost synergies in order $55 Expected sav

  10. Slide 10: Sustainable Solutions for Expro and its Customers

    Sustainable Solutions for Expro and its Customers Gas Environmental Operational Carbon Compression Efficiencies Emissions Capture Well Flow Well Flow Well Intervention Subsea Well Access Management Management & Integrity and Well Flow Management Customer reduced Carbon-efficient solution CoilHose op

  11. Slide 11: Historical Segment EBITDA by Region

    Historical Segment EBITDA by Region North & Latin America ($m) Europe & Sub Saharan Africa ($m) $50 50% $50 50% $40 40% $40 40% $30 30% $30 26% 30% 16% 23% 23% 22% 21% 21% 21% 15% 15% 19% 19% 15% 18% 17% 18% $20 15% 20% $20 15% 15% 20% 11% 14% 13% 12% 8% $10 10% $10 10% $21 $24 $20 $20 $15 $6 $9 $12

  12. Slide 12: Historical Revenue and Contribution by Areas of Capability

    Historical Revenue and Contribution by Areas of Capability Revenue ($m) Well Management ($m) $100 42% 38% 41% 45% 40% 40% 40% Well Construction Well Management $90 38% 38% 36% 37% 40% 35% 35% $80 35% $70 30% $326 $348 $342 $374 $330 $251 $233 $250 $251 $284 $313 $296 $60 25% $50 $89 20% $40 $73 $80

  13. Slide 13: Company Outlook

    Company Outlook Q1 2022 2022 • We expect that revenue in the first quarter • Revenue momentum will be driven by an of 2022 will be relatively flat compared to increase in shorter-cycle, faster-return the fourth quarter of 2021 production optimization projects • We expect that Adjusted EBITDA margin

  14. Slide 14: Appendix

    Appendix: For further info, please visit: Investors.Expro.com >> Click here for Downloadable Financials >> Copyright 2022 Expro. All rights reserved. 14

  15. Slide 15: Expro at a Glance

    Expro at a Glance Who We Are Company Snapshot 1 Full-cycle energy services leader with a diverse set of global capabilities in: • Well Construction Operations in Resilient • Well Flow Management over 60 countries; business model • Subsea Well Access best-in-class safety to drive through- • Well Inte

  16. Slide 16: Historical Revenue and Adjusted EBITDA

    Historical Revenue and Adjusted EBITDA Revenue ($m) Adjusted EBITDA1 ($m) Well Management Well Construction Expro Frank's XPRO $374 Legacy $348 $51 $342 $326 $330 $51 $313 $45 $45 $45 $139 $296 $14 $284 $39 $156 $139 $123 $251 $251 $250 $16 $16 $35 $14 $144 $115 $33 $233 $112 $12 $108 $8 $86 $12 $24

  17. Slide 17: Historical Revenue by Region and Product Line

    Historical Revenue by Region and Product Line By Region ($m) By Product Line ($m) NLA ESSA MENA APAC Well Construction Well Flow Management Subsea Well Access Well Intervention & Integrity $374 $374 $348 $348 $342 $342 $326 $56 $330 $326 $47 $330 $38 $313 $41 $313 $44 $42 $31 $42 $296 $39 $43 $43 $2

  18. Slide 18: Historical Support Costs

    Historical Support Costs Support Costs ($m) Trailing Twelve Months ($m) Research, engineering and development Research, engineering and development Product Line and central costs Product Line and central costs Geography-based support costs Geography-based support costs $115 $116 $115 $113 6 6 6 $362

  19. Slide 19: Historical Adjusted Cash flow from Operations and Capex

    Historical Adjusted Cash flow from Operations and Capex Adjusted Cash Flow from Operations ($m) Capital Expenditures ($m) Expro Frank's XPRO Expro Frank's XPRO Legacy Legacy 80 $73 $40 $40 $66 $37 $37 60 $27 $33 $33 $10 $18 $52 $41 $10 $10 $10 $31 $44 $28 $8 $9 40 $5 $32 $26 $22 $28 $22 $17 $20 $21

  20. Slide 20: Non-GAAP Reconciliations

    Non-GAAP Reconciliations ($ in millions) Three Months Ended, TTM 2021 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19 31-Mar-20 30-Jun-20 30-Sep-20 31-Dec-20 31-Mar-21 30-Jun-21 30-Sep-21 31-Dec-21 Adjusted EBITDA 1 $ 33 $ 45 $ 45 $ 51 $ 35 $ 24 $ 24 $ 26 $ 24 $ 39 $ 45 $ 51 $ 158 Depreciation, amortization

  21. Slide 21: Non-GAAP Reconciliations (continued)

    Non-GAAP Reconciliations (continued) ($ in millions) Three Months Ended TTM 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19 31-Mar-20 30-Jun-20 30-Sep-20 31-Dec-20 31-Mar-21 30-Jun-21 30-Sep-21 31-Dec-21 31-Dec-21 Total revenue $ 326 $ 348 $ 342 $ 374 $ 330 $ 251 $ 233 $ 250 $ 251 $ 284 $ 313 $ 296 $ 1,143

  22. Slide 22: Non GAAP Reconciliations (continued)

    Non GAAP Reconciliations (continued) ($ in millions) Three Months Ended TTM 31-Mar-19 30-Jun-19 30-Sep-19 31-Dec-19 31-Mar-20 30-Jun-20 30-Sep-20 31-Dec-20 31-Mar-21 30-Jun-21 30-Sep-21 31-Dec-21 31-Dec-21 Cost of revenue, excluding depreciation and amortization $ 287 $ 290 $ 285 $ 317 $ 280 $ 221 $

  23. Slide 23: For further info, please visit...

    For further info, please visit… @Expro @ExproGroup @ExproGroup @ExproGroup @ExproGroup Expro.com Copyright 2022 Expro. All rights reserved. 23

Expro Group Holdings — Q4 2021 Earnings Presentation on 6ix