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CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc

Willbros Group, Inc · Jun 7, 2012 · 17 slides

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Slides

  1. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 1
    Willbros Group (NYSE : WG) 2012 Credit Suisse Engineering & Construction Conference June 7, 2012
  2. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 2
    Forward Looking Statements This presentation contains forward looking statements. All statements, other than statements of historical facts which address activities, events or developments the Company expects or anticipates will or…
  3. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 3
    Willbros Vision and Values Our mission is to be a multi-billion dollar engineering and construction company with a diversified revenue stream, exposure to high growth opportunities and ability to achieve more stable and predictable…
  4. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 4
    2006 Reduced Exposure to Unstable Markets De-risk Backlog Discontinued operations in South ( in millions) 1,200 America and West Africa 900 Closed offices in Bolivia and 600 Venezuela 300 Announced decision to sell Nigeria…
  5. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 5
    Focused on North America and Diversified 2007 Services 2008 Sold Nigeria operations and redeployed cash: Delivered Improved Operating Results Increased U.S. large diameter capacity ( in millions) from 1 to 3 spreads 42 10.0%…
  6. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 6
    2009 Diversified Services, Geographies and Markets 2010 Residual effect from financial Diversification achieved via crisis continued to negatively acquisitions: impact demand for our Wink Engineering (2009) hydrocarbon-centric…
  7. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 7
    Delivered on 2011 Objectives to Transform 2011 Willbros Returning Willbros to profitability and strengthening the balance sheet Objective Status 2011debt reduction of 123.4 million Reduce debt by approximately Additional 36.7…
  8. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 8
    2012 Willbros Today Positioned for Success Recent Accomplishments Positive Market Indications Settled West Africa Pipeline Company Oil & Gas segment: (WAPCO) litigation 70% of planned 2012 revenue committed Completed DOJ monitorship…
  9. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 9
    Focusing on Growth Markets in North America Willbros has the backlog, resources and expertise to drive profitability from: Utility Transmission & Distribution Build-Out U.S. Oil and Gas Infrastructure: Large Diameter Pipelines…
  10. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 10
    Financial Overview
  11. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 11
    Willbros Financial Snapshot Historical Revenue Revenue 1Q12 ( in millions) 3,000 2,500 Utility T&D 33% 827 1,900 Oil & Gas 2,000 59% 1,700 599 1,500 309 Canada 8% 1,000 1,913 1,600 1,260 500 1,192 Total: 419.1…
  12. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 12
    Backlog Total Backlog by Segment (1) Major Projects Canada 12% Total Backlog Oncor Oil & Gas 29% MPRP Utility T&D ECHO 59% Red River Project 2.3 billion 12 Month Backlog by Segment (1) NiSource Oil & Gas Camp…
  13. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 13
    Improving Adjusted EBITDA While Reducing Debt Year over year Q1 revenue growth driven primarily by our expanded U.S. upstream presence and service offerings and improved resource utilization in the Utility T&D segment, especially in…
  14. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 14
    Liquidity and Free Cash Flow(1) Cash and cash equivalents of approximately 48.9 million 175 million credit facility 25 million cash revolver available provided pro-forma leverage ratio does not exceed 3 to 1 38 million letters of…
  15. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 15
    WG is Undervalued Relative to Peers 2013 EV/EBITDA Valuation 2013 Price/Cash Flow Valuation 8x 12x 10x 6x 8x 4x 6x 4x 2x 2x 0x 0x WG FWLT MTRX MYRG MTZ EXH PIKE DY CBI PWR TTEK TISI EXH WG MTZ MYRG TISI DY FWLT MTRX CBI TTEK…
  16. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 16
    Key Investment Considerations Worldwide brand recognition and reputation for quality, safety and schedule / price certainty Strategically positioned to capture opportunities in to burgeoning markets including: electric transmission,…
  17. CREDIT SUISSE ENGINEERING AND CONSTRUCTION CONFERENCE – Willbros Group, Inc – slide 17
    www.willbros.com

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