Slide 1: Archer Q4 2021 results
Archer Q4 2021 results 25 February 2022
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: Q4 Highlights and Subsequent events
Revenue ($m) Adjusted EBITDA ($m) Q4 2021 Q4 Highlights 275 28 252 25.8 250 243 • Revenue of $252 million 228 23.5 23.5 225 • EBITDA before exceptional items 211 213 23 22.3 21.5 increased by $2.3 million to $25.8 million 200 • EBITDA of $22.4 million 175 • NIBD reduced to $500 million at year-end 1
Slide 4: Well Services
Q4 2021 Well Services Financials Operations • Modest increase in revenue from Q3. Year-over-year • Gyda Repsol P&A campaign was successful completed as a revenue increased by 113% OneArcher delivery project for customer • EBITDA record in the quarter with total EBITDA of $9.5 • Oiltools completed th
Slide 5: Platform Drilling, Modular Rigs & Engineering
Q4 2021 Platform Drilling, Modular Rigs & Engineering Financials Operations • Revenue increased by 2.5% compared to previous quarter, • Continued stable performance from operations with good uptime on our rigs • EBITDA of $11.8 million in the quarter, slightly down from previous quarter related to l
Slide 6: Land drilling
Q4 2021 Land drilling Financials Operations • Revenue increased 5% compared to Q3 • Drilling activity in the quarter remains stable with activity lower than pre-covid 19 levels • EBITDA increased by $2 million compared to Q3 • Operational results impacted by higher non-productive time during • Excep
Slide 7: Condensed profit & loss
Q4 2021 Condensed profit & loss ($ million Q4 2021 Q4 2020 2021 2020 Operating revenues 210.7 185.3 813.1 715.1 • Operational revenue of $210.7 million represent an increase of $25.4 million or 14% YOY Reimbursable revenue 41.2 25.2 123.0 108.9 Total Revenues 251.9 210.6 936.1 824.0 • EBITDA of $22.
Slide 8: Condensed balance sheet
Q4 2021 Condensed balance sheet $ million 31.12.2021 30.09.2021 31.12.2020 Cash and cash equivalents 50.7 26.6 41.2 • Accounts receivables only increased by $0.6 million, despite the Restricted cash 14.8 10.0 12.4 4% increase in revenue. Accounts receivables 125.6 125.0 109.2 Inventories 52.1 53.4 5
Slide 9: Financial outlook 2022
2022 Outlook Financial outlook 2022 • Revenues for 2022 expected to increase moderately from 2021 • EBITDA for 2022 expected 5-8% higher than 2021, growth primarily in second half of 2022 • Capex between 3-4% of revenue • Positive free cash flow • Continued reduction in NIBD 1) 9
Slide 10: Appendix
Appendix 10
Slide 11: Segment key financials
Appendix Segment key financials Eastern Hemisphere Revenues ($m) EBITDA 250 23 187.6 193.9 200 164.2 166.0 178.0 22 150 21 Platform drilling & 100 20 Engineering 50 19 0 18 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 $m Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Well Services Revenues 164.2 166.0 178.0 187.6 193.9 EBITDA befo
Slide 12: Condensed profit and loss statement
Appendix Condensed profit and loss statement (Figures in $ million) Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Operating revenues 185.3 194.1 202.2 206.1 210.7 Reimbursable revenue 25.2 19.3 25.8 36.6 41.2 Total Revenues 210.6 213.4 228.0 242.8 251.9 EBITDA before exceptional items 23.3 21.5 22.3 23.5 25.8 Sever
Slide 13: Condensed balance sheet
Appendix Condensed balance sheet $ million 31.12.2020 31.03.2021 30.06.2021 30.09.2021 31.12.2021 Cash, cash equivalents & restricted cash 53.6 45.5 46.6 36.6 65.5 Accounts receivables 109.2 113.8 123.6 125.0 125.6 Inventories 54.2 53.6 54.7 53.4 52.1 Other current assets 28.0 23.4 26.3 32.6 30.7 In
Slide 14: Condensed cash flow statement – last 5 quarters
Appendix Condensed cash flow statement – last 5 quarters (Figures in $ million) Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Operating activities 16.1 (4.0) 15.3 1.5 40.0 Investing activities (18.3) (3.3) (16.0) (9.0) (14.3) Financing activities (3.9) (3.5) 5.1 (1.8) 6.1 FX effect (2.4) (0.4) (0.2) (0.9) 0.0 Total