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September 2015 Investor Presentation – Forum Energy Technologies, Inc.

Forum Energy Technologies, Inc. · Sep 21, 2015 · 26 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. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 1
    2015 Investor Presentation
  2. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 2
    2015 Objectives Generating free cash flow Focused acquisition strategy Developing new products Protecting margins Improving operational performance Confidential 3
  3. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 3
    Free Cash Flow History Cumulative Free Cash Flow - 616 million and Net Income - 592 million 700 600 500 400 Net Income 300 FCF 200 100 - 2009 2010 2011 2012 2013 2014 Note: Free Cash Flow is a non-GAAP…
  4. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 4
    Free Cash Flow to Net Income Ratio 2009 2014 Cumulative Free Cash Flow* to Cumulative Net Income Ratio 1.2 1 0.8 0.6 0.4 0.2 0 FET Average Large Equipment Average Large Service (NOV, FMC, CAM) (SLB, HAL, BHI)…
  5. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 5
    Free Cash Flow 2015 Focus Working capital reduction Lower capital expenditures Focused M&A and share repurchases ( millions) 2014 2013 Free cash flow, before acquisitions Net income 174 129 Depreciation and amortization 65 61…
  6. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 6
    Deployment of Cash Seventeen acquisitions since the 2010 combination 150 million share repurchase program Repurchased 4.4 million shares in Q4 2014 for 100 million 50 million remaining under existing program New product…
  7. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 7
    Flow Equipment Power Ends & Pumps Manifolds & Treating Iron Fluid Ends, Valves, Fittings J-Mac Tool - 2015 Wood Flowline - 2011 Phoinix Global - 2011 Refurbishment & Recertification The full suite of pumps, replacement power and…
  8. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 8
    Well Intervention Wireline Cable Coiled Tubing Pressure Control Quality Wireline - 2014 Global Tubing JV - 2013 Vanoil 2008 Building a well intervention product offering for the service companies Critical consumable products…
  9. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 9
    New Products EDGE II Desalter XLX C ROV Coiled Tubing Products Maximizes desalting performance Perry XL series reliability Coiled Tubing Pipeline and feedstock capacity Highly versatile - tooling to IRM Offshore pipelines…
  10. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 10
    2nd Quarter 2015 Results (Unaudited) Quarterly Revenue (millions) and Adjusted EBITDA Margin % 469 450 439 35% 428 425 400 30% 375 348 350 25% 325 300 284 20% 20.2% 275 19.4% 19.1% 250 17.7% 15% 225 14.5% 200 10%…
  11. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 11
    Capitalization and Credit Statistics Strong balance sheet ( millions) 6/30/15 12/31/14 Capitalization 6.25% Senior unsecured notes due October 2021 403 403 Senior secured revolving credit facility (600mm) 35 25 Other debt - 1 Total…
  12. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 12
    Protecting Margins Scalable organization Variable Fixed Overhead Direct labor & overhead costs Labor Overhead 10% 4% SG&A costs Related 14% Minimal sustaining CAPEX requirements Scalable capital spending with Material…
  13. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 13
    Improving Operational Performance and Cost Reductions Manufacturing excellence Develop and leverage centers of excellence On time delivery Shorten manufacturing lead times Supply chain efficiencies Supply base rationalization…
  14. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 14
    Summary Large cap capabilities, small cap opportunities Strong financial position Free cash flow generation for enhanced shareholder value Focused and disciplined M&A New product development Balanced and diverse portfolio mix…
  15. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 15
    QUESTIONS Confidential 16
  16. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 16
    Markets & Customers Full Well Cycle Exposure Well Construction Stimulation & Subsea Construction Production Drilling Infrastructure & Completion Intervention & Development Business Drivers Well Count and Well Construction Rig…
  17. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 17
    Focused Acquisition Strategy Global oilfield, manufactured products Leveraged to attractive secular growth trends Strong brand and market position Activity-based, consumable products High Growth International…
  18. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 18
    Sources of Revenue As a percent of 2014 sales Geography Purchase Cycle Latin America Middle East 4% 4% Canada 6% Asia Pacific 9% Capital Equipment Consumable United 48% Products Europe States 50% Africa 60% 17% Other…
  19. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 19
    Drilling & Subsea Segment Drilling Technologies Mission Critical Drilling Capital Equipment Drilling Consumable Product Suite Mousehole tool XL Backsaver 1,000 ton hydraulic elevator Wrangler Catwalk Casing slip Blohm +…
  20. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 20
    Drilling & Subsea Segment Subsea Technologies Largest range of ROVs in industry Perry and Sub-Atlantic VMax Simulation Systems Hot Stabs Tether Trenchers Management Systems ROV Components PIG launchers…
  21. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 21
    Production & Infrastructure Segment Flow Equipment Confidential 22
  22. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 22
    Drilling & Subsea Segment Downhole Technologies Trusted Name in a Consolidated Market1 Others 22% Varel Weatherford 3% 39% Top-Co 8% Forum (Davis- Lynch) Halliburton 11% 17% Davis-Lynch Casing & Cementing…
  23. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 23
    Production & Infrastructure Segment Production Equipment Heater Treater Tanks Separators Well Manifold Confidential 24
  24. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 24
    Production & Infrastructure Segment Valve Solutions Two piece trunnion valves for the shale markets Specified ball valve of choice for the US Strategic Petroleum Reserve Confidential Preferred valve supplier to leading…
  25. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 25
    Reconciliation of Non-GAAP Measures (Unaudited) Actual ( millions) Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 EBITDA Reconciliation Net Income attributable to common stockholders 40 52 46 29 9 Interest expense 8 8 7 8 8…
  26. September 2015 Investor Presentation – Forum Energy Technologies, Inc. – slide 26
    Reconciliation of Non-GAAP Measures (Unaudited) ( millions) 2014 2013 2012 2011 2010 2009 Free cash flow, before acquisitions Net income 174 129 152 94 24 19 Depreciation and amortization 65 61 52 41 33 38 Other, primarily…

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