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HUNTING PLC ANNUAL RESULTS – Hunting Plc

Hunting Plc · Mar 8, 2012 · 45 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 1
    Hunting PLC Annual Results 2011 March 2012
  2. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 2
    Highlights Four strategic acquisitions totalling to 597.9m Manufacturing footprint increased by 37% to over 2.5m sq ft Strong trading performance with improved underlying margins Diluted earnings per share 38.7p (2010: 22.7p) +…
  3. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 3
    Financial Summary EBITDA (m)* Profit from Operations (m)* 2011 102.5 2011 81.0 2010 62.6 2010 45.0 2009 42.8 2009 29.1 0 20 40 60 80 100 120 0 20 40 60 80 100 Diluted EPS (p)* Dividend Per Share Declared (p) 2011 38.7 2011…
  4. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 4
    Corporate Activity Businesses acquired Sources of funding m Dearborn - August 2011 50.6 13.2m new shares placed August 2011 raising gross proceeds of 85.4m Precision manufacturing 375m 5 year multi currency credit facility August…
  5. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 5
    Results Summary * 2011 Margin 2010 Margin Growth m % m % % Revenue 608.8 423.3 +44 EBITDA 102.5 17 62.6 15 +64 Profit from operations 81.0 13 45.0 11 +80 Finance (expense) income (2.2) 1.0 Profit before tax 79.8 13 47.0 11 +70…
  6. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 6
    Segmental Results * 2011 2010 Profit Profit from from Revenue Operations Margin Revenue Operations Margin m m % m m % Hunting Energy Services Well Construction 194.5 28.5 15 111.3 9.5 9 Well Completion 327.2 41.2 13 224.2 23.2…
  7. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 7
    Acquisitions Impact * 2011 2010 m Margin m Margin Growth % % % Revenue Like for like 544.0 423.3 +29 Acquisitions 64.8 - 608.8 423.3 +44 EBITDA Like for like 86.1 16 62.6 15 +38 Acquisitions 16.4 25 - 102.5 17 62.6 15 +64…
  8. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 8
    Amortisation & Exceptional Items Continuing Operations 2011) m) Amortisation of intangible assets 12.2) Inventory fair value charge 12.9) Acquisition costs 8.6) Acquisition retention bonuses 1.6) Unamortised loan facility fees…
  9. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 9
    Amortisation & Exceptional Items Discontinued Operations 2011) m) Gain on redemption of Gibson Energy warrant 58.3) Tax indemnity provision and other movements (3.2) Tax charge (5.1) Discontinued operations 50.0) Annual…
  10. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 10
    Balance Sheet 2011) 2010) m) m) Property, plant and equipment 231.2) 154.1) Goodwill 316.5) 100.6) Other intangible assets 220.8) 22.6) Available for sale financial assets 0.2) 45.1) Working capital 262.6) 136.5) Provisions (60.5)…
  11. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 11
    Capital Expenditure by Segment 2011 2010 m m Hunting Energy Services Well Construction 30.0 20.6 Well Completion 19.6 17.1 Well Intervention 5.9 3.9 Exploration & Production 2.3 7.1 Others 0.2 0.3 58.0 49.0 Split Maintenance…
  12. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 12
    Capital Expenditure by Project 2011 m Well Construction - New Drills tools and spare parts 18.3 - Innova building purchase - US 3.5 - Dearborn equipment - US 2.5 - Other equipment 5.7 Well Completion - Consolidation and…
  13. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 13
    Cash Flow 2011) 2010) m) m) EBITDA 102.5) 62.6) Working capital movements (33.2) (38.9) Interest, fees and tax (23.1) (1.6) Capital expenditure (58.0) (49.0) Acquisitions, including costs (581.1) (83.5) Equity placing 83.5) -)…
  14. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 14
    Global Footprint Annual Results 2011 13
  15. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 15
    Our Strategy PROPRIETARY PRODUCTS, DELIVERING TECHNOLOGY MARKET SHARE STRENGTH Realising + INNOVATION significant Integrate new business Technology and R&D potential Pricing Leverage Product offering Products, services…
  16. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 16
    Manufacturing Facilities Expansion / Consolidation Badentoy / Fordoun Expansion of Stafford, Texas facility Deepwater Facility Houma, LA Grand opening Wuxi, China facility Annual Results 2011 15
  17. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 17
    Acquisition Review Perforating Systems, Energetics, Wireline Logging Tools, MWD/LWD equipment. Titan MWD/LWD Precision Machining, Power Generation, Aerospace. Dearborn MWD/LWD Precision Machining, High Alloy Material…
  18. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 18
    Hunting Titan 27 STRATEGICALLY Located Facilities 6 Manufacturing 20 Distribution HEADQUARTERED 1 HQ In Pampa, Texas Manufactured over 14 MILLION parts in 2011 544 Employees Annual Results 2011 17
  19. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 19
    Hunting Titan Capabilities Description Products Overview Manufactures highly-engineered perforating gun Wireline guns systems and associated perforating hardware Tubing conveyed perforating gun systems Leading US market share…
  20. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 20
    Hunting Titan Capabilities Description Products Overview Manufactures comprehensive line on shaped charges Shaped charges and related explosives Jet cutters (Spectra (R)) Leading market share Distributors of power charges,…
  21. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 21
    Hunting Titan Capabilities Description Manufactures electronic well logging tools Applications include cased hole logging, open hole logging, MWD/LWD and production logging Products Overview Cased hole logging tools…
  22. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 22
    Summary Comparison Of Plug-and-Perf Versus Sliding Sleeve Plug-and-Perf Sliding Sleeve Key Advantages Well known technology/process Significant time saving during completion Easy to overcome downhole problems process Well…
  23. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 23
    Hunting Dearborn 1 LOCATION HEADQUARTERED in Fryeburg, Maine Manufactured over 6,700 parts in 2011 248 Employees Annual Results 2011 22
  24. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 24
    Hunting Dearborn Capabilities Deep Hole Drilling, Trepanning and Boring of Solid Bars of High Alloy Materials to Lengths of 32 feet holding extremely close tolerances CNC Turning of Materials up to 40 inches to lengths of 30…
  25. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 25
    Hunting Doffing 1 LOCATION HEADQUARTERED in Houston, Texas Manufactured 12,000 parts in 2011 69 Employees Annual Results 2011 24
  26. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 26
    Hunting Doffing Capabilities Precision Machining of Exotic Materials Drilling, Boring and Trepanning up to 52 inches Plunge and Wire Electrical Discharge Machining Custom Tool Grinding Annual Results 2011 25
  27. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 27
    Hunting Specialty 2 LOCATIONS HEADQUARTERED in Houston, Texas Manufactured 87,860 parts in 2011 64 Employees Annual Results 2011 26
  28. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 28
    Hunting Specialty Capabilities Directional Drillers Source for In Stock MWD Components Design and Manufacturer of MWD Components Provider of Screens to Customer Specs or Special Design Annual Results 2011 27
  29. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 29
    Horizontal Drilling and MWD Opportunity Annual Results 2011 28
  30. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 30
    Advanced Manufacturing Group Synergetic means of providing MWD components / assemblies Multi-Platform High Technology Expertise Single Source for Advanced Manufacturing Engineering and Delivery Annual Results 2011 29
  31. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 31
    Business Platforms Annual Results 2011 30
  32. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 32
    Well Construction Continued Momentum from Shale activities and Global Offshore Growth Redeveloped Revenue Streams from Increases in Deepwater Activities GOM Synergies Development with Acquired Companies High Demand for…
  33. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 33
    Well Completion Continued Growth from Extended Reach and Multi Stage Completions Order Book Increases with Return to GOM Global Demand for Manufacturing Capacities Synergies Development with Acquired Companies Annual…
  34. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 34
    Well Intervention Substantial Work Over/Rework Activity Associated with Increases in Commodity Pricing Unconventional Drilling Provides more Opportunities for Thru Tubing work Global Demand for Manufacturing Capacities…
  35. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 35
    Fundamental Business Drivers Annual Results 2011 34
  36. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 36
    Global Wells Drilled Worldwide Wells Drilled Per Year 140,000 120,000 100,000 Wells Drilled per year 80,000 Russia International 60,000 China Canada 40,000 US Wells Drilled 20,000 - Source: Spears &…
  37. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 37
    Strong US Recovery Source: Baker Hughes Spears & Associates Annual Results 2011 36
  38. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 38
    Horizontal Rig Count Percentage of Rigs Drilling Vertical, Directional, & Horizontal Wells 80.0% 70.0% 60.0% 50.0% 40.0% % Horizontal % Vertical % Directional 30.0% 20.0% 10.0% Source: Baker Hughes 0.0% Jan-00…
  39. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 39
    US Horizontal Footage Drilled - million US Horizontal Footage Drilled Annual US Horizontal Footage Drilled (million) Annual Results 2011 38
  40. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 40
    International Offshore Monthly Rig Count International Offshore Monthly Rig Count 350 300 250 US Monthly Rigs Drilling 200 150 Non-US 100 50 Source: Baker Hughes 0 4/01 9/02 1/04 5/05 10/06 2/08…
  41. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 41
    Workover Rig Count Driver for Well Intervention US & Canadian Workover Rig Count 3,000 2,500 2,000 Active Well Service/Workover Rigs 1,500 US Workover Rigs Canada Workover Rigs 1,000 500 Source: Cameron…
  42. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 42
    Coiled Tubing Rigs Driver for Well Intervention Coiled Tubing Rig Counts 2,000 1,800 1,600 1,400 1,200 Active CT Units Total World Count 1,000 International United States Canada 800 600 400 200…
  43. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 43
    Subsea Tree and Manifold Projects Awarded 1,200 1,000 Number of Project Awards 800 600 Manifolds SS Tree & Control Systems 400 200 Source: Quest Offshore Resources, Inc. 0 05A 06A 07A 08A 09A 10A 11E 12E 13E…
  44. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 44
    Global Subsea Capex 25,000 20,000 Global capex Spending MM 15,000 10,000 5,000 0 2004 2005 2006 2007 2008 2009 2010 2011E 2012E 2013E 2014E 2015E 2016E Source: Quest Offshore Resources. Annual Results 2011…
  45. HUNTING PLC ANNUAL RESULTS – Hunting Plc – slide 45
    Looking Forward 2012 Increase: Product development Manufacturing capacities Geography expanding marketplace Leverage off international business units activities Annual Results 2011 44

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