Skip to main content Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. Investor Presentation | Shale Experts
Loading...
Database
Slide Database

Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc.

Exterran Holdings, Inc. · Dec 1, 2015 · 31 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. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 1
    Exterran Corporation Cowen and Company Ultimate Energy Conference December 1, 2015 Andrew Way Jon Biro President and Chief Executive Officer Senior Vice President and Chief Financial Officer 0 rights Exterran Corporation. All…
  2. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 2
    INTRODUCTION TO EXTERRAN Exterran has been providing infrastructure solutions to the oil and gas industry for more than 60 years Recent split from Archrock allows for focus on international services and global product sales…
  3. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 3
    COMPANY OVERVIEW Exterran Corporation (NYSE: EXTN) Share Price1 16.04 Average Trading Volume2 541,000 shares Market Capitalization1, 3 557 million Net Debt4 488 million Anticipated transaction expenses5 30 million Enterprise…
  4. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 4
    RECENT FINANCIAL PERFORMANCE AND GUIDANCE ( IN MILLIONS) Q4 2015 Guidance Q3 2015 Actuals International Contract Operations: Revenue 113 - 118 114 Gross Margin Low 60% Range 64% Aftermarket Services: Revenue 25 - 30 25 Gross…
  5. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 5
    WHY INVEST IN EXTERRAN A Global Market Leader + Integrated Business Model + Performance Through Cycles Product & service expertise Global operations Centers of Stable, fee based services Deep technical knowledge Excellence (COE)…
  6. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 6
    ESTABLISHED GLOBAL BUSINESS WITH LOCAL EXPERTISE Regional Headquarters Engineering and Manufacturing Centers North America Other Major International Locations 29% Revenue: 988mm (48%) Eastern Hemisphere 48% Revenue: 610mm (29%)…
  7. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 7
    WHY CUSTOMERS CHOOSE EXTERRAN Customer Requirements Exterrans Value Add Industry leading safety record Approximately 7,000 employees Experience Differentiated field services Speed / Delivery to first production needs Long…
  8. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 8
    POSITION IN THE ENERGY VALUE CHAIN Demand driver diversity across multiple sectors and cycles Ethane END USER Propane NGL Butane Pipelines Natural Gasoline Petrochemical LPG Fuels Natural Gas Refining Pipelines Natural Gas NGL…
  9. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 9
    UNIQUE BUSINESS MODEL Revenue by Geography1 Reporting Typical Contract Sales Business Competitive Segments NAM LATAM EH GM % Duration Backlog Model Advantage Speed to market Exterran Avg. 10 Expertise & ICO n/a 75% 25% 60%+…
  10. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 10
    HOW WE GO TO MARKET % of % of LTM LTM Revenues1 Gross Margin1 23% 54% Customer Engagement ICO Local Sales Stable, Application Fee-Based Engineering 7% 8% Cash Flow AMS Product Development Operational 70% 38%…
  11. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 11
    OUR EXPOSURE TO KEY MACRO TRENDS Assets Utilized Gathering Processing Infrastructure Separation Gas processing Early production facilities Dehydration Cryogenic plants Water polishing Oil stabilization Dew point plants FPSO topside…
  12. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 12
    INTERNATIONAL CONTRACT OPERATIONS TYPICAL PROJECT MODEL Fee-Based Operations Design Project Scope Project Operating and Contract Award Post Initial Contract Phase Maintenance Build, Install, Commission Production Startup 6 24…
  13. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 13
    AFTERMARKET SERVICES SUPPORTS CUSTOMERS EQUIPMENT AND PROJECTS Business Model bridges Product Sales and ICO Offerings Maintenance Contractual Partner with Me Risk Operations and Maintenance Replacement Manage my Equipment…
  14. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 14
    MARGIN RESILIENCY UNDERPINS STABLE, RECURRING FREE CASH FLOW THROUGH CYCLES Historical ICO and AMS Gross Margin1 ( in millions) ICO projects largely 400 351 100% 264 tied to long-term local 313 317 319 334 293 infrastructure…
  15. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 15
    PRODUCT SALES BUSINESS POSITIVE CASH FLOW GENERATION AND LOW CAPITAL INTENSITY Product Sales Backlog by Region1 Historical Product Sales Gross Margin Percentage3 Backlog ( Millions) 1,400 2,000 18% 1,262 16% 16% 1,200 15%…
  16. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 16
    LEVERAGING THE DEPTH OF OUR CAPABILITIES Business ICO ICO Product Sales Product / AMS Project Type Early Production Facility Gas Gathering Cryogenic Processing Gas Processing Installed 2009 2015 2009 2015 Customer IOC NOC Midstream…
  17. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 17
    LOCAL MARKET DRIVERS UTILIZING OUR EXPERTISE TO FORGE NEW MARKETS North Overall environment resulting in challenging fundamentals for product sales business America Strong product mix is allowing us to achieve a steady flow of…
  18. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 18
    FOCUSED LEADERSHIP Short Term Longer Term Closer engagement with our Focus on long-term industry customers fundamentals by deploying capital into Focus on aligning our cost existing contract operations markets structure with current…
  19. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 19
    INVESTMENT HIGHLIGHTS Well-positioned to benefit from continuing global energy infrastructure investment Integrated business model with sustainable competitive advantages Proven performance through cycles with significant stable,…
  20. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 20
    Addendum I 20 Exterran Corporation. All rights reserved.
  21. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 21
    POST-SEPARATION SNAPSHOT Public Public Shareholders Shareholders Exterran Corporation (NYSE: EXTN) Archrock, Inc. (NYSE: AROC)1 520 million Debt2 2% GP3 / 39% LP3 U.S. Contract International International Global U.S.…
  22. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 22
    FINANCIALS BY SEGMENT AND GEOGRAPHY Revenue by Segment1 Revenue by Geography1 AMS 141mm 7% Latin America ICO 465mm North 23% 474mm America Product Sales 23% 988mm 1,448mm 48% 70% Eastern Hemisphere 610mm 29% LTM Q3-15…
  23. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 23
    HISTORICAL FINANCIAL PERFORMANCE Revenue ( in millions) Gross Margin1 ( in millions) 2,415 33 29% 2,173 27% 27% 24% 27% 2,069 26% 28 2,063 1,963 23% 23% 1,809 1,840 597 23 1,662 1,460 584 534 541 1,233 485 485 475 18 1,779…
  24. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 24
    EXTERRAN CAPITALIZATION Pro Forma September 30, 2015 Capitalization ( in millions) Cash & Cash Equivalents 32 New Revolving Credit Facility (680mm) 275 Term Loan (245mm) 245 Total Funded Debt 1 520 Net Debt 488 Liquidity…
  25. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 25
    NON-GAAP FINANCIAL MEASURES Exterran Corporation: 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. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 26
    NON-GAAP FINANCIAL MEASURES (CONT.) EXTERRAN CORPORATION ( in millions) 2010 2011 2012 2013 2014 LTM Q3-152 Q1-14 Q2-14 Q3-142 Q1-15 Q2-15 Q3-152 Revenues ICO 465.1 445.1 464.0 476.0 493.9 474.1 111.0 134.4 124.4 120.7 115.3 114.1…
  27. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 27
    NON-GAAP FINANCIAL MEASURES (CONT.)1 EXTERRAN CORPORATION 2010 2011 2012 2013 2014 Q1-14 Q2-14 Q1-15 Q2-15 ( millions) Net income (loss) 38.4 (232.3) 119.4 152.9 152.5 43.0 25.5 37.6 8.4 (Income) loss from discontinued operations, net…
  28. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 28
    NON-GAAP FINANCIAL MEASURES (CONT.)1 ARCHROCK ( in millions) 2008 2009 Revenue North America Contract Operations 767.9 652.9 International Contract Operations 379.8 392.0 Aftermarket Services 316.5 273.3 Product Sales 1,489.6…
  29. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 29
    NON-GAAP FINANCIAL MEASURES (CONT.)1 ARCHROCK ( in millions) 2008 2009 Net loss (935.1) (545.5) Selling, general and administrative 347.2 331.8 Merger and integration expenses 11.4 - Depreciation and amortization 323.1 338.8…
  30. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 30
    NON-GAAP FINANCIAL MEASURES ARCHROCK1 2010 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 ( millions) Net income (loss) (113.2) (30.4) (30.2) (214.5) (64.4) 7.3 (166.9) 119.3 3.1 58.8 24.5 45.3 27.2 Selling,…
  31. Cowen and Company Ultimate Energy Conference – Exterran Holdings, Inc. – slide 31
    NON-GAAP FINANCIAL MEASURES ARCHROCK1 ( in millions) Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Revenues North America Contract Operations 142.1 142.1 143.1 143.4…

From the store

Browse maps, data & reports in the Shale Experts store