Hunting Plc · LSE:HTG
Hunting — Shareholder Meeting (2025)
22 slides from Hunting's shareholder meeting presentation, 2025
Slide 1: Precision Engineering from Subsea to Space
PRECISION ENGINEERING FROM SUBSEA TO SPACE lon.agm@hunting-intl.com
Slide 2: lon.agm@hunting-intl.com
lon.agm@hunting-intl.com 2
Slide 3: Board of Directors
Stuart M. Brightman Jim Johnson Bruce Ferguson Margaret Amos Non-executive Company Chair Chief Executive Finance Director Non-executive Director Chair of Nomination Committee Chair of Ethics and Sustainability Committee Carol Chesney Paula Harris Cathy Krajicek Keith Lough Non-executive Director Non
Slide 4: Welcome, Introduction and Agenda
Welcome Introduction & Q1 2025 Trading Update Stuart Brightman, Non-executive Company Chair Chief Executive Review of 2024 Jim Johnson, Chief Executive Questions & Answers Business of AGM Stuart Brightman, Non-executive Company Chair Proxy Votes Received Close lon.agm@hunting-intl.com 4
Slide 5: Precision Engineering from Subsea to Space
PRECISION ENGINEERING FROM SUBSEA TO SPACE lon.agm@hunting-intl.com 5
Slide 6: Q1 2025 Trading Update
Continued progress against 2030 milestones. In the quarter, Hunting has delivered: • $38.0 million of new subsea orders, including new stress joint and decom products. • $17.5 million acquisition of Organic Oil Recovery technology. • $13.1 million disposal of Rival Downhole Tools interest. • Continu
Slide 7: Precision Engineering from Subsea to Space
PRECISION ENGINEERING FROM SUBSEA TO SPACE lon.agm@hunting-intl.com 7
Slide 8: Strong growth delivered from international and offshore businesses
Strong growth delivered from international and offshore businesses • KOC contracts commenced, contributing to robust H2 performance. • Continuation of major orders for ExxonMobil and TPAO for titanium and steel stress joints. • Profit contribution from India joint venture, following receipt of API l
Slide 9: Market, financial and non-financial highlights
Market highlights Average WTI crude oil price Financial highlights $ 76 per bbl Revenue Free Cash Flow Global drilling capital investment $ 1,048.9m +13% $ 139.7m $ 214.5bn EBITDA Total Dividend Global average rig count $126.3m +23% 11.5 cents +15% 1,691 Non-financial highlights Sales order book Net
Slide 10: OCTG and Subsea
OCTG • $231m orders from Kuwait Oil Company transformed performance in H2 2024. 17% 73% • Strong results delivered in North America with market share gains in US and steady growth in Canada supporting results. • OCTG well completion packages into South America also contributing to material growth. •
Slide 11: AMG and Other
AMG • Electronics business exploring diversification into new markets, leveraging its strong heritage in servicing the oil 13% and gas industry. 11% • Steady growth in energy sales, with switches also being manufactured for Perforating Systems. • At Dearborn, aviation, commercial space, defence, med
Slide 12: Perforating Systems
PERFORATING • New technology launched in year including Tandem SYSTEMS perforating accuracy. system for leading industry perforating -9% • International sales continue to accelerate, with growth in South America and Middle East. • Customer consolidation, lower natural gas prices, constraints on LNG
Slide 13: Organic Oil Recovery
• Intellectual property and assets purchased from owners in March 2025. • $60 million of contracts secured for licensed OOR technology in August 2024 for deployment in North Sea over the next five years. • Good gross margins attached to technology and revenue. • Pilot testing continuing in Europe, U
Slide 14: Precision Engineering from Subsea to Space
PRECISION ENGINEERING FROM SUBSEA TO SPACE lon.agm@hunting-intl.com 14
Slide 15: Capital Markets Day objectives progress
Global growth Delivery of strong growth delivered in OCTG – in subsea / offshore revenue now 44% of Group revenue CMD OBJECTIVE CMD OBJECTIVE Increase global presence in OCTG and Long range sales target on track premium connection markets $6.5m of cost savings delivered EBITDA to Free Cash Flow with
Slide 16: Offshore v Onshore; North America v International revenue
Offshore v Onshore % of revenue North America v International % of revenue 100% 100% 90% 90% 80% 80% 70% 70% 60% 60% 50% 50% 40% 40% 30% 30% 20% 20% 10% 10% 0% 0% FY2022 FY2023 FY2024 Source: Company FY2022 FY2023 FY2024 Source: Company Offshore Onshore NAM International lon.agm@hunting-intl.com 16
Slide 17: lon.agm@hunting-intl.com
lon.agm@hunting-intl.com 17
Slide 18: Summary and outlook
• Strong year of growth delivered, with a good start to 2025. • Capital Markets Day ambitions on track. • Focus on M&A to accumulate profit growth. • Resilient outlook for energy to 2030 and beyond. lon.agm@hunting-intl.com 18
Slide 19: Precision Engineering from Subsea to Space
PRECISION ENGINEERING FROM SUBSEA TO SPACE lon.agm@hunting-intl.com &
Slide 20: Precision Engineering from Subsea to Space
PRECISION ENGINEERING FROM SUBSEA TO SPACE lon.agm@hunting-intl.com &
Slide 21: Proxy votes received on resolutions
Resolution, For Against Withheld 1 To receive the 2024 Annual Report. 118,774,160 5,489 609,437 2 To approve the Annual Report on Remuneration. 101,206,732 18,150,357 31,997 3 To declare a final dividend of 6.0 cents per share. 119,383,247 5,147 692 4 To re-appoint Cathy Krajicek as a Director. 119,
Slide 22: lon.agm@hunting-intl.com
www.huntingplc.com https://www.linkedin.com/company/hunting-energy-services/ Gwynn G https://www.youtube.com/@HuntingPLC