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Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc.

Exterran Holdings, Inc. · Mar 21, 2016 · 28 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.

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  1. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 1
    Exterran Corporation Scotia Howard Weil Energy Conference March 22, 2016 Andrew Way Jon Biro President and Chief Executive Officer Senior Vice President and Chief Financial Officer 0 Exterran Corporation. All rights reserved.…
  2. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 2
    FORWARD LOOKING STATEMENTS All statements in this presentation (and oral statements made regarding the subjects of this presentation) other than historical facts are forward looking statements within the meaning of Section 21E of the…
  3. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 3
    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…
  4. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 4
    FROM WELLHEAD TO PIPELINE Core competencies Natural gas Oil and gas compression production equipment Midstream Installation Infrastructure Manufacturing Family of Products Modular Natural gas Produced water design processing and…
  5. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 5
    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…
  6. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 6
    OUR EXPOSURE TO KEY MACRO TRENDS Gathering Processing Infrastructure Separation Gas processing Early production facilities Dehydration Cryogenic plants Water polishing Representative Oil stabilization Dew point plants FPSO topside…
  7. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 7
  8. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 8
    WHY INVEST IN EXTERRAN A Global Market Leader + Integrated Business Model + Performance Through Cycles Product & service expertise Global operations Centers of Relatively stable, fee based Deep technical knowledge Excellence…
  9. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 9
    ESTABLISHED GLOBAL BUSINESS WITH LOCAL EXPERTISE Regional Headquarters Engineering and Manufacturing Centers North America Other Major International Locations 29% Revenue: 858mm (46%) Eastern Hemisphere 46% Revenue: 548mm (29%)…
  10. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 10
    WHY CUSTOMERS CHOOSE EXTERRAN Customer Requirements Exterrans Value Add Industry leading safety record Experience Approximately 7,000 employees Differentiated field services Speed / Delivery to first production needs Long…
  11. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 11
    HOW WE GO TO MARKET % of % of LTM LTM Revenues1 Gross Margin1 25% 61% ICO Customer Engagement Local Sales Stable, Application Fee-Based Engineering 7% 7% Cash Flow AMS Product Development Operational 68% 32%…
  12. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 12
    UNIQUE BUSINESS MODEL Reporting Revenue by Geography1 Typical Contract Sales Business Competitive Segments NAM LATAM EH GM % Duration Backlog Model Advantage Speed to market Avg. 10 Exterran ICO Expertise & n/a 74% 26% 60%+ 2…
  13. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 13
    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…
  14. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 14
    AFTERMARKET SERVICES SUPPORTS CUSTOMERS EQUIPMENT AND PROJECTS Business Model bridges Product Sales and ICO AMS Offerings Maintenance Contractual Partner with Me Risk Operations and Replacement Manage my Equipment Maintenance…
  15. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 15
    MARGIN RESILIENCY UNDERPINS STABLE, RECURRING CASH FLOW THROUGH CYCLES 1 See Addendum I for more information on gross margin and gross margin percentage. 2 HenryHub indexed to 7.48 per million BTU at December 31, 2007; Brent indexed…
  16. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 16
    PRODUCT SALES BUSINESS POSITIVE CASH FLOW GENERATION AND LOW CAPITAL INTENSITY 1 Productsales backlog at end of periods. 2 Amounts derived from Archrock segment information. Amounts exclude sales to Exterran Partners (now Archrock…
  17. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 17
    LOCAL MARKET DRIVERS UTILIZING OUR EXPERTISE TO FORGE NEW MARKETS North PS ICO AMS Market Trends America Challenging market backdrop Customers canceling or postponing projects Pricing pressure increasing Uncertain bookings…
  18. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 18
    RECENT FINANCIAL PERFORMANCE AND GUIDANCE ( IN MILLIONS) Q1 2016 Guidance Q4 2015 Actuals International Contract Operations: Revenue 100 - 105 120 Gross Margin 60% 65% Aftermarket Services: Revenue 30 - 35 32 Gross Margin…
  19. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 19
    MANAGING THE DOWNTURN Financial Position 12/31/2015 Cost reductions including: Cash 29.0 Consolidated certain locations Reduced headcount by 16% Total Debt 525.6 Stockholders' Equity 909.9 Capitalization 1,435.5 Expect to pay down…
  20. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 20
    INVESTMENT HIGHLIGHTS Well-positioned to benefit from continuing global energy infrastructure investment Integrated business model with sustainable competitive advantages Focused on generating free cash flow and reducing debt levels…
  21. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 21
    Addendum I 20 Exterran Corporation. All rights reserved.
  22. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 22
    FINANCIALS BY SEGMENT AND GEOGRAPHY Revenue by Segment1 Revenue by Geography1 AMS 128mm 7% Latin America North 463 ICO America 25% 470mm 858 Product 25% 46% Sales Eastern 1,272mm Hemisphere 68% 548 29% LTM Q4-15 Total:…
  23. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 23
    HISTORICAL FINANCIAL PERFORMANCE Revenue ( in millions) Gross Margin1 ( in millions) ICO AMS Product Sales SG&A as % of Revenue ICO AMS Product Sales Gross Margin % Capital Expenditures ( in millions) Gross Margin1…
  24. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 24
    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…
  25. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 25
    NON-GAAP FINANCIAL MEASURES (CONT.) EXTERRAN CORPORATION ( in millions) 2010 2011 2012 2013 2014 2015 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Revenues ICO 465.1 445.1 464.0 476.0 493.9 469.9 111.0 134.4 124.4 124.1 120.7…
  26. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 26
    NON-GAAP FINANCIAL MEASURES (CONT.)1 EXTERRAN CORPORATION 2010 2011 2012 2013 2014 2015 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 ( millions) Net income (loss) 38.4 (232.3) 119.4 152.9 152.5 46.2 43.0 25.5 36.9 47.1 37.6 8.4…
  27. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 27
    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…
  28. Scotia Howard Weil Energy Conference 2016 – Exterran Holdings, Inc. – slide 28
    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…

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