Expro Group Holdings N.v. · NYSE:XPRO
Expro — Q3 2021 Earnings Presentation
21 slides from Expro's earnings presentation, Nov 8, 2021
Slide 1: Expro Q3 2021
€3 =ExPRO Q3 | 2021 NYSE: XPRO
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
Slide 3: Expro: A Full-Cycle Energy Services Leader
Expro: A Full-Cycle Energy Services Leader Bringing together iconic brands to add scale, breadth, stability and upside A diversified offering across the well lifecycle and geographies, providing full cycle resiliency and growth potential Future facing technologies better position company for energy
Slide 4: Q3 2021 Company Highlights
Q3 2021 Company Highlights Pro forma 3Q revenue increased 10% sequentially and 34% year-over-year Legacy Expro revenue grew 12% sequentially and 33% year-over-year Frank’s revenue grew 7% sequentially and 36% year-over-year Customer activity levels have continued to improve across almost all segment
Slide 5: Revenue by Region and Product Line
Revenue by Region and Product Line 3Q 2021 Revenue by Geographical Market ($m) 3Q 2021 Revenue by Product Line ($m) $313 $313 Asia Pacific North & Well Intervention Well (APAC) Latin America and Integrity Construction (NLA) $103 $45 $115 $49 $46 $30 Middle East Europe & Sub Well Flow $123 Subsea Wel
Slide 6: Q3 2021 Regional Highlights
Q3 2021 Regional Highlights Middle East & North Africa Wireline Intervention contract win valued at +$50m in Middle East. Scope includes Slickline services for a five- year contract duration plus two years optional extension. Asia Pacific World’s first annulus intervention system to be run in the A-
Slide 7: Customer and Technology Highlights
Customer and Technology Highlights World Record: Deployed Distributed World’s First: As Hurricane Ida rapidly Expro’s sampling Expro’s Octopoda™ Fiber Optic Sensing CoilHose™ technology intensified in the Gulf of with analysis annulus intervention (DFOS) technology to created a bespoke Mexico, our r
Slide 8: Focus on Sustainable Solutions for Expro and its Customers
Focus on Sustainable Solutions for Expro and its Customers Gas Compression Environmental Efficiencies Carbon Capture Operational Emissions Well Flow Management Well Flow Management Subsea Well Access and Well Flow Well Intervention & Integrity Management Customer reduced Green Carbon-efficient solut
Slide 9: Pro Forma Historical Segment EBITDA by Region
Pro Forma Historical Segment EBITDA by Region North and Latin America ($m) Europe and Sub Saharan Africa ($m) $50 50% $50 50% $40 40% $40 40% $30 30% $30 26% 30% 16% 23% 23% 22% 15% 15% 20% 19% 15% 18% 18% 17% 18% $20 14% 20% $20 15% 15% 20% 13% 11% 10% 13% $10 6% 10% $10 10% $21 $24 $20 $20 $14 $5
Slide 10: Pro Forma Historical Revenue and Contribution by Product Line
Pro Forma Historical Revenue and Contribution by Product Line Revenue ($m) Well Flow Management | Subsea Well Access | Well Intervention and Integrity ($m) $100 42% 38% 41% 45% Frank's Expro 40% 40% 38% 40% 38% $90 35% 36% 35% 40% $80 35% $70 30% $326 $348 $342 $374 $330 $251 $233 $250 $251 $284 $31
Slide 11: Company Outlook
Company Outlook Q4 2021 2022 • 4Q 2021 revenue expected to be • Strengthening signals of a multi-year flat to mid-single digit revenue growth recovery with double-digit growth in largely due to reduced activity in the international spending in 2022 Northern Hemisphere • Recovering offshore market be
Slide 12: Appendix
Appendix: For further info, please visit: Investors.Expro.com >> Click here for Downloadable Financials >> 12
Slide 13: Expro at a Glance
Expro at a Glance Who We Are Company Snapshot 1 Full-cycle energy services leader with Operations in over 60 a diverse set of global capabilities in: countries; best-in-class safety and service quality • Well Construction • Well Flow Management Resilient business model to • Subsea Well Access drive
Slide 14: Pro Forma Historical Revenue and Adjusted EBITDA
Pro Forma Historical Revenue and Adjusted EBITDA Revenue ($m) Adjusted EBITDA1 ($m) Expro Frank's Expro Frank's $374 $348 $342 $326 $330 $52 $313 $139 $284 $44 $15 $41 $156 $139 $123 $40 $40 $251 $250 $251 $144 $115 $233 $108 $16 $9 $33 $12 $27 $86 $15 $95 $95 ($2) $25 $30 $84 $23 $1 $12 $1 $9 $20 $
Slide 15: Pro Forma Historical Revenue by Region and Product Line
Pro Forma 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 $348 $374 $342 $326 $56 $330 $348 $342 $38 $313 $47 $330 $44 $326 $31 $42 $41 $313 $284 $42 $49
Slide 16: Pro Forma Historical Support Costs
Pro Forma Historical Support Costs Support Costs ($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 $113
Slide 17: Pro Forma Historical Adjusted Cash flow from Operations and Capex
Pro Forma Historical Adjusted Cash flow from Operations and Capex Adjusted Cash Flow from Operations ($m) Capital Expenditures ($m) Expro Frank's TTM Expro Frank's $185 $40 $40 $155 $154 $37 $37 $144 $126 $33 $33 $10 $10 $118 $10 $10 $31 $99 $8 $95 $9 $5 $22 $38 TTM increase in net $20 $21 $50 $27 $
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations Three Months Ended, TTM ($ in millions)\ 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 30-Sep-21 Adjusted EBITDA (1) $ 33 $ 44 $ 40 $ 52 $ 27 $ 25 $ 23 $ 30 $ 20 $ 41 $ 40 $ 132 Depreciation, amortization and im
Slide 19: 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 30-Sep-21 Total revenue $ 326 $ 348 $ 342 $ 374 $ 330 $ 251 $ 233 $ 250 $ 251 $ 284 $ 313 $ 1,099 Cost of revenue
Slide 20: Non-GAAP Reconciliations (continued)
Non-GAAP Reconciliations (continued) (1) ($ 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 30-Sep-21 Cost of revenue $ 342 $ 345 $ 338 $ 368 $ 331 $ 266 $ 250 $ 270 $ 265 $ 281 $ 301 $ 1,117 Depreciati
Slide 21: For further info, please visit…
For further info, please visit… @Expro @ExproGroup @ExproGroup @ExproGroup @ExproGroup 21