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JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc.

Exterran Holdings, Inc. · Aug 8, 2013 · 29 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. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 1
    J.P.MORGAN OIL & GAS CORPORATE ACCESS DAY AUGUST 8, 2013 Bill Austin Executive Vice President and Chief Financial Officer Exterran Exterran Holdings, Inc. Holdings, All rights Inc. All rights reserved. reserved.…
  2. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 2
    INVESTMENT MERITS Improved operating and financial performance Enhanced financial flexibility to meet growth opportunities Substantial opportunities for our products and services in our global markets Continued focus on improving our…
  3. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 3
    RECENT PERFORMANCE ( millions, except per share data, horsepower in thousands) Q2 2012 Q2 2013 1H 2012 1H 2013 Revenues 631 837 1,246 1,649 EBITDA, as adjusted1,2 101 177 198 323 EPS, excluding charges3 (0.48) 0.31 (0.90) 0.52…
  4. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 4
    COMPANY OVERVIEW Exterran Holdings (NYSE: EXH) Total Shares1 65,790,182 Stock Price2 29.73 Market Capitalization2 2.0 billion Average Trading Volume3 616,420 Operations 30 countries 1Common shares outstanding as of July…
  5. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 5
    EXTERRAN ORGANIZATIONAL STRUCTURE Market Equity1: 2.0 Billion Cons. Debt : 1 1.6 Billion Enterprise Value1: 3.6 Billion North America International Aftermarket Contract Operations Contract Fabrication 39% LP1 3.4 MM HP2 Operations…
  6. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 6
    BUSINESS OVERVIEW Exterran Holdings, Inc. All rights reserved. www.exterran.com
  7. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 7
    LEADER IN COMPRESSION AND PRODUCTION SERVICES Exterran Holdings, Inc. All rights reserved. www.exterran.com
  8. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 8
    GEOGRAPHIC & PRODUCT DIVERSIFICATION Segment Gross Margin Mix1,2 Geographic Gross Margin Mix1,2 International Contract Operations 30% North America 59% North Latin America America Aftermarket 25% Contract Services Operations…
  9. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 9
    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…
  10. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 10
    U.S. SHALE PLAYS Source: Energy Information Administration Exterran Holdings, Inc. All rights reserved. www.exterran.com 11
  11. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 11
    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 10 3 2 5…
  12. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 12
    EXTERRAN PARTNERS, L.P. Exterran Partners EXLP is the leading provider of natural gas EXLP currently owns 70% of the contract operations in the United States combined EXH/EXLP U.S. contract EXHs strategy is to offer the remainder of…
  13. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 13
    OIL & GAS DRILLING AND PRODUCTION SPENDING 500 Global Capital Spending Increasing 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 We…
  14. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 14
    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 6/30/12 6/30/13 2008 2009 2010 2011 2012 6/30/12…
  15. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 15
    FINANCIAL HIGHLIGHTS AND GROWTH STRATEGIES Exterran Holdings, Inc. All rights reserved. www.exterran.com
  16. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 16
    SEGMENT PERFORMANCE ( millions) Q2 2012 Q2 2013 1H 2012 1H 2013 Gross Gross Gross Gross 1 1 1 1 Revenue Margin % Revenue Margin % Revenue Margin % Revenue Margin % North America Contract Operations 149 53% 164 57% 299 52% 323 56%…
  17. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – 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. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – 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 4.3x 1,800 4.5x 1,643 449 1,565 3.9x 1,600 4.0x 546 1,400 3.5x 715 681 3.0x ( millions) 1,200 2.4x 1,000…
  19. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 19
    2013 DEVELOPMENTS Exterran Partners completed an offering of 350 million of 6% senior notes Exterran Partners senior secured credit agreement was amended to: Reduce the borrowing capacity under its revolving credit facility by 100…
  20. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 20
    GROWTH ACTIVITIES Investing in new North America contract operations fleet units to further standardize our fleet Larger units for gathering applications and smaller units for gas lift applications International contract operations…
  21. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 21
    INVESTMENT MERITS Improved operating and financial performance Enhanced financial flexibility to meet growth opportunities Substantial opportunities for our products and services in our global markets Continued focus on improving our…
  22. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 22
  23. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 23
    APPENDIX SLIDES Exterran Holdings, Inc. All rights reserved. www.exterran.com
  24. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 24
    EXTERRAN HOLDINGS, INC. FINANCIAL RESULTS SUMMARY1,2 ( in millions) Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Revenues North America Contract Operations 146.9 146.6 147.7 146.9 150.6 148.6 151.5 154.7 159.4 163.6…
  25. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – 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. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 26
    NON-GAAP FINANCIAL MEASURES (CONT.)1,2 EXTERRAN HOLDINGS, INC. Three Months Ended March 31, June 30, Sept. 30, Dec. 31, March 31, June 30, Sept. 30, Dec. 31, March 31, June 30, ( millions) 2011 2011 2011 2011 2012 2012 2012 2012 2013…
  27. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 27
    NON-GAAP FINANCIAL MEASURES (CONT.) EXTERRAN HOLDINGS, INC. ( thousands, except per share amounts) 1H-2012 1H-2013 Q2-2012 Q2-2013 Net Income (loss) attributable to Exterran stockholders (147,113) 59,540 (152,608) 9,335 (Income) loss…
  28. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 28
    NON-GAAP FINANCIAL MEASURES (CONT.)1 EXTERRAN PARTNERS, L.P. ( thousands) Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Net Income (loss) 223 (1,938) 3,253 4,515 4,505 (19,050) 10,380 14,674 14,733 27,896 Income tax…
  29. JP MORGAN OIL AND GAS CORPORATE ACCESS DAY – Exterran Holdings, Inc. – slide 29
    DEBT STRUCTURE ( millions) Debt Structure as of June 30, 2013 Funded Type Amount Size Maturity Rating Senior Secured Facility1 246 900 2016 BB/n/a 7.25% Senior Notes 350 350 2018 BB/Ba3 4.25% Convertible Notes2 332 332 2014…

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