Expro Group Holdings N.v. · NYSE:XPRO

Expro — Barclays CEO Energy-Power Conference 2024

23 slides from Expro's conference presentation, Sep 4, 2024

  1. Slide 1: CEO Energy-Power Conference

    NYSE: XPRO CEO Energy-Power Conference September 4, 2024 | 11:40 a.m. CST | 12:40 p.m. EST

  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: Get to Know XPRO

    Get to Know XPRO TTM REVENUE1 ~80% ~70% $1,630m I N T E R N AT I O N AL OFFSHORE Asia Pacific ~$2.3bn Market Capitalization2 16% North & Latin America ~$2.3bn Middle East BY 33% North Africa REGION 17% +60 Countries S T R O N G C AS H ZERO NET-DEBT Enterprise Value3 FLOW OUTLOOK B AL AN C E S H E E

  4. Slide 4: Positioned to Capitalize on Increasing Demand for Energy Services

    Positioned to Capitalize on Increasing Demand for Energy Services Estimated Value of Projects Sanctioned/Expected to be Sanctioned ($Bn)1 Favorable Macro Backdrop $147 • Strong and stable oil prices are expected to drive $139 Deepwater FIDs +$300bn for 2024-2027, levels not increased operator invest

  5. Slide 5: Investment Momentum Shifting to International and Offshore Markets Provides Opportunity for Expro

    Investment Momentum Shifting to International and Offshore Markets Provides Opportunity for Expro Total Capital Investments by Year ($Bn)1 Increased offshore and 50% CAPEX North America Onshore International Offshore $ 600 international investment 40% (i.e., long cycle development) provides Expro wi

  6. Slide 6: Road Map to Success During the Current Growth Cycle and Beyond

    Road Map to Success During the Current Growth Cycle and Beyond Medium-Term Targets for Revenue, Contribution Margin and Adjusted EBITDA Margin1,2 Key to Create Long-Term Shareholder Value Capex related revenue Opex related revenue Offer value-adding services across the 3000 57% Adjusted EBITDA margi

  7. Slide 7: Why Invest in Expro

    Why Invest in Expro Reasons to Own Expro • Strong and stabile oil prices are expected to drive increased operator investment and activity after nearly 10 years of limited upstream spending • Project approvals will drive customer capital spending (~70% of Expro’s revenue) for 3-5 years, thereby provi

  8. Slide 8: Appendix: Investors.Expro.com

    Investors.Expro.com Downloadable Financials Our ESG report Follow us on Connect with us on Appendix: Subscribe to our To learn even more about Expro, check out these additional places to get in touch with us. channel

  9. Slide 9: Revenue by Region and Area of Capability

    Revenue by Region and Area of Capability Asia Pacific Well (APAC) Intervention & Integrity $63 North & $69 Latin America Well (NLA) Construction Middle East North Africa Q2 2024 Q2 2024 (MENA) $157 Revenue $148 Revenue $81 by Geographic Well Flow by Area of Management Market Capability $470m $470m $

  10. Slide 10: Historical Revenue and Adjusted EBITDA

    Historical Revenue and Adjusted EBITDA Revenue ($m) Adjusted EBITDA ($m)1 Revenue up 88% since Adjusted EBITDA Q4 2020 (announcement up ~3.7x of Expro/Frank’s merger) since Q4 2020 Well Management Well Construction $470 $95 $407 $85 $397 $383 $370 $148 $351 $339 $72 $330 $334 $70 $314 $67 $313 $145

  11. Slide 11: Historical Adjusted Cash Flow from Operations and Capex

    Historical Adjusted Cash Flow from Operations and Capex Adjusted Cash Flow from Operations ($m)1 Adjusted EBITDA2 / Capital Expenditures ($m) TTM Adjusted EBITDA minus Capex up Adjusted EBITDA Capital Expenditures +$190m since Q4 2020 $95 $85 $99 $72 $70 $67 $73 $51 $51 $50 $64 $48 $45 $42 $52 $39 $

  12. Slide 12: Historical Revenue by Region and Product Line

    Historical Revenue by Region and Product Line By Geographical Market ($m) By Product Line ($m) NLA ESSA MENA APAC Well Construction Well Flow Management Subsea Well Access Well Intervention and Integrity $470 $470 $63 $407 $407 $69 $397 $397 $383 $383 $370 $370 $351 $62 $351 $57 $339 $65 $81 $54 $33

  13. Slide 13: Historical Revenue and Contribution by Areas of Capability

    Historical Revenue and Contribution by Areas of Capability Revenue ($m) Well Construction ($m) $70 44% 42% 43% 44% 45% 43% 43% 43% 44% 43% 45% 50% 41% 42% 41% 42% Well Management Well Construction $60 38% 40% 37% $470 40% $50 $40 30% $407 $30 $397 20% $383 $20 $370 $148 10% $351 $10 $334 $339 $47 $3

  14. Slide 14: Historical Contribution by Product Line

    Historical Contribution by Product Line Well Construction ($m) Well Flow Management ($m) $70 50% $70 50% 44% 42% 43% 44% 45% 43% 43% 43% 44% 43% 45% 41% 42% 41% 42% 40% 41% $60 38% 40% 37% $60 38% 39% 38% 38% 38% 37% 40% 36% 36% 34% 40% 34% 35% 33% 34% 33% $50 $50 33% 26% 30% 30% $40 $40 $30 $30 20%

  15. Slide 15: Historical Segment EBITDA by Region

    Historical Segment EBITDA by Region North & Latin America ($m) Europe & Sub-Saharan Africa ($m) $50 40% $50 40% $45 35% $45 35% $40 30% 30% 30% $40 29% 31% 27% 28% 27% 26% 30% 26% 25% 30% $35 25% $35 21% 21% 21% 25% 22% 21% 25% $30 $30 21% 21% 19% 19% 18% 18% 18% 18% $25 20% $25 17% 16% 20% 15% 15%

  16. Slide 16: Historical Support Costs

    Historical Support Costs Historical Support Costs ($m) Trailing Twelve Months Support Costs ($m) Research, engineering and development Aggregate support costs since Q4 TTM support costs up 13% with $94 2020 down from 30% to run-rate revenue up 15% Product Line and central costs <20% of revenue on a

  17. Slide 17: Order Backlog

    Order Backlog Q/Q Change in Order Backlog ($m) Order Backlog at Quarter End ($m) + + + + $2,413 $2,295 $2,271 $2,301 $2,297 $2,178 $2,171 $1,927 $1,878 $1,744 1 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 1) “Other” includes revenue from backlog and re-estimations

  18. Slide 18: Non-GAAP Reconciliations

    Non-GAAP Reconciliations ($ in millions) Three Months Ended TTM Q2 2024 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Adjusted EBITDA 1 $ 35 $ 24 $ 24 $ 26 $ 24 $ 39 $ 45 $ 51 $ 37 $ 51 $ 48 $ 70 $ 42 $ 72 $ 50 $ 85 $ 67 $ 95 $ 297 Deprec

  19. Slide 19: Non-GAAP Reconciliations (continued)

    Non-GAAP Reconciliations (continued) ($ in millions) Three Months Ended TTM Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Total revenue $ 330 $ 251 $ 233 $ 250 $ 251 $ 284 $ 313 $ 296 $ 280 $ 314 $ 334 $ 351 $ 339 $ 397 $ 370 $ 407 $ 383

  20. Slide 20: Non-GAAP Reconciliations (continued)

    Non-GAAP Reconciliations (continued) Reconciliation of Adjusted Net Income (Loss) ($ in millions, except per share amounts) Three Months Ended Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Net Income (loss) $ (91) $ (11) $ (4) $ (18) $ 13 $ (6) $ 9 $ (14) $ (12) $ (3) 15 Adjustme

  21. Slide 21: Notes

    Notes Copyright 2024 Expro. All rights reserved.

  22. Slide 22: Notes

    Notes Copyright 2024 Expro. All rights reserved.

  23. Slide 23: Get to Know

    GET TO KNOW

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