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SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc.

Exterran Holdings, Inc. · Feb 28, 2013 · 29 slides

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Slides

  1. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 1
    Simmons Energy Conference February 28, 2013 Bill Austin Executive Vice President and Chief Financial Officer
  2. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 2
    2012 Accomplishments Improved operating profitability by focusing on cost and gross margin improvement Grew working horsepower in both North America and International contract operations Increased fabrication revenues, profit and…
  3. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 3
    Annual Performance ( millions, horsepower in thousands) 2011 2012 % Change Revenues 2,630 2,804 7% Gross Margin1 728 834 15% EBITDA, as adjusted1 395 465 18% Debt (at year end) 1,773 1,565 (12%) Operating Horsepower 3,790…
  4. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 4
    Business Overview
  5. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 5
    Leader in Compression and Production Services 5
  6. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 6
    Geographic & Product Diversification Segment Gross Margin Mix1,2 Geographic Gross Margin Mix1,2 International Contract Operations 33% North America 58% Latin America North 27% America Aftermarket Contract Services…
  7. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 7
    Stable Fee-Based Cash Flows Contract Operations Revenue and Natural Gas Prices 900 14.00 800 12.00 700 10.00 600 Henry Hub Spot Price Revenue ( millions) 500 8.00 400 6.00 300 4.00 200 2.00 100 0 0.00…
  8. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 8
    U.S. Shale Plays We expect that the North America markets will continue to have strong demand for all of our products and services Source: Energy Information Administration 8
  9. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 9
    Encouraging Trends for Natural Gas in the U.S. Increasing Supply in the U.S. Natural Gas Consumption by U.S. Utilities 35 10 9 30 8 25 7 (trillions of cubic feet) (trillions of cubic feet) 6 20 5 15 4 3 10…
  10. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 10
    Exterran Partners, L.P. Master Limited Partnership is a leading provider of natural gas contract operations Exterran Partners services in the United States EXLP currently owns 62% of the EXHs strategy is to offer the remainder of…
  11. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 11
    Oil & Gas Drilling and Production Spending Global Capital Spending Increasing 500 450 400 350 300 ( billions) 250 200 150 100 50 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 U.S. International…
  12. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 12
    Fabrication Sell compression, production and processing equipment For U.S. and international markets Provide integrated design, engineering, fabrication and installation capabilities Our Belleli operations have facilities in Italy…
  13. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 13
    Fabrication Backlog Backlog at Period Ends 1,400 1,400 1,200 1,200 1,000 1,000 ( millions) ( millions) 800 800 600 600 400 400 200 200 0 0 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 North America…
  14. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 14
    Aftermarket Services Provider of parts and services in U.S. and international markets Goal to help reduce downtime and maximize equipment life Services include: Preventive and contract maintenance services Mid-cycle and full…
  15. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 15
    Financial Highlights and Growth Strategies
  16. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 16
    Segment Performance ( millions) 2011 2012 Gross Gross Revenues Revenues Margin %1 Margin %1 North America Contract Operations 588 48% 605 52% International Contract Operations 445 59% 464 60% Aftermarket Services 371 16% 386…
  17. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 17
    Performance Initiatives Labor, lube oil, shop supply initiatives North America Contract Operations Price increases in 2012 and 2013 Lube oil and purchasing initiatives International Contract Operations Contract extensions with…
  18. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 18
    Improved Credit Profile Total Debt Outstanding Exterran Holdings Debt to Adjusted EBITDA1 2,000 1,897 5.0x 1,773 1,800 4.5x 4.3x 449 1,565 3.9x 1,600 4.0x 546 1,400 3.5x 681 ( millions) 1,200 3.0x 2.4x 1,000 2.5x 800…
  19. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 19
    Growth Activities Investing in new North America contract operations fleet units to modernize and position our fleet for growth Larger units for gathering applications and smaller units for gas lift applications Healthy backlog of…
  20. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 20
    Growth Strategy Priorities Goals Focus on our core businesses Bring value-added and leverage our global solutions to our customers leadership position in Deliver improved returns to compression to drive growth our stockholders…
  21. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 21
    Investment Merits Improved operating and financial performance in 2012 Enhanced financial flexibility to meet growth opportunities Substantial opportunities for our products and services in our global markets Continued focus on…
  22. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 22
  23. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 23
    Appendix Slides
  24. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 24
    Exterran - Financial Results Summary1,2 ( in millions) 2008 2009 2010 2011 2012 Revenues North America Contract Operations 767.9 679.0 592.1 588.0 605.4 International Contract Operations 379.8 392.0 465.1 445.1 464.0 Aftermarket…
  25. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 25
    Non-GAAP Financial Measures Exterran Holdings, Inc.: EBITDA, as adjusted, a non-GAAP measure, is defined as net income (loss) excluding income (loss) from discontinued operations (net of tax), cumulative effect of accounting changes…
  26. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 26
    Non-GAAP Financial Measures (cont.)1,2 Exterran Holdings, Inc. Years Ended December 31, ( thousands) 2008 2009 2010 2011 2012 Net loss (935,076) (545,463) (113,241) (339,618) (37,169) (Income) loss from discontinued operations, net of…
  27. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 27
    Non-GAAP Financial Measures (cont.) Exterran Partners, L.P. Years Ended December 31, ( in thousands) 2011 2012 Net income 6,053 10,509 Depreciation and amortization 67,930 88,298 Long-lived asset impairment 1,060 29,560 Selling,…
  28. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 28
    Pro Forma Debt Structure ( millions) Pro Forma Debt Structure as of December 31, 20121 Funded Type Amount Size Maturity Rating Senior Secured Facility2 214 900 2016 BB/n/a 3 7.25% Senior Notes 350 350 2018 BB/Ba3 4.25%…
  29. SIMMONS ENERGY CONFERENCE – Exterran Holdings, Inc. – slide 29

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