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2Q 2020 Earnings Presentation – Ion Geophysical Corp

Ion Geophysical Corp · Aug 6, 2020 · 13 slides

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Slides

  1. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 1
    ION Q2 2020 Earnings Call Earnings Call Presentation August 6, 2020
  2. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 2
    Corporate Participants and Contact Information CHRIS USHER MIKE MORRISON President and Executive Vice President Chief Executive Officer and Chief Financial Officer CONTACT INFORMATION If you have technical problems during…
  3. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 3
    Forward-Looking Statements The information included herein contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results…
  4. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 4
    ION Financial Overview Revenue (m) 50 Q2-20 revenue consistent with expectations and oilfield services 40 42 (46%) 30 H1-20 revenues greater than or equal to prior comparable 5 years 20 23 Quickly scaled asset light business to…
  5. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 5
    Market Dynamics Coronavirus demand destruction and increased global production resulted in a significant market surplus during Q1-20 By March, oil prices dropped 60% and 2020 E&P budgets were cut 25% In April, global demand and…
  6. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 6
    E&P Technology and Services Q2-20 Highlights Secured permits and prefunding for a new 3D multi-client program in the North Sea Built on our highly successful portfolio of reimaging programs with a new project in Mauritania North…
  7. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 7
    E&P Technology and Services Q2-20 Highlights Signed global 2D data collaboration with Enhancing and deploying differentiated PGS, combined library comprises 1m km Gemini source technology offshore ION 2D PGS 2D 7
  8. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 8
    Operations Optimization Q2-20 Highlights Continued strong uptake of ION AnyWare technology that facilitates remote operations Comprehensive situational awareness and dynamic dashboard reporting supported in-field decision-making…
  9. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 9
    Q2-20 Actuals Summary Revenue (m) Net Loss (m) Q2-20 revenue down 46% vs Q2-19 50 0 E&P Technology & Services down 47% 40 42 (5) Operations Optimization down 43% (5) 30 (46%) 20 (9) (8) H1-20 revenues greater than or equal to…
  10. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 10
    ION Financial Overview 3 mo ended Jun 30 6 mo ended Jun 30 2020 2019 2020 2019 Net income 75 (loss) (5.2) (8.3) (7.5) (29.5) Cash increased by 24m sequentially Non-cash adjustments (0.8) 12.0 14.4 23.9 (excluding net revolver…
  11. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 11
    Summary Q2-20 performance in a precarious market demonstrates our ability to quickly and effectively scale asset light business to meet demand Expect market to be challenging over the next year, maybe even two, with a material…
  12. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 12
    Q&A 12
  13. 2Q 2020 Earnings Presentation – Ion Geophysical Corp – slide 13

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