1H 2019 Results Presentation September 2019
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ADES INTERNATIONAL HOLDING | 1H 2019 Results Presentation 2
ADES at Glance Leading MENA-based O&G Unique Business Model and Listed on London Stock Industry Leading Financial Strong Contracted Backlog Service Provider Proved Resilience Exchange in May 2017 and Operational Position with High Quality Performance Client Base Differentiated low-cost business model and a Established Regional Champion: non-speculative approach to acquisition, • 51 rigs across 4 countries delivering a track record of growth through the • 4,000+ High-Caliber Workforce cycles US$ 220 m US$ 90 m 95% US$ 1.5 bn 4.2 years 0.34 Revenue EBITDA Utilization Rate Backlog Tenor RIFR Utilization Rate in 1H 2019 1H 2019 Revenue 1H 2019 EBITDA Total Backlog Weighted Average Remaining RIFR in 1H 2019 ( ▲ 2.8x vs. 1H 2018) ( ▲ 2.4x vs. 1H 2018) (vs. 80% in 1H 2018) (as of 1H 2019) Contract Tenor (vs. IADC standard of 0.73) ADES INTERNATIONAL HOLDING | 1H 2019 Results Presentation 3
1H 2019 FINANCIAL REVIEW ADES INTERNATIONAL HOLDING | 1H 2019 Results Presentation 4
50+ Well Diversified Assets Strong Presence Across Defensive Markets 2 3 4 Onshore Offshore Country Jack-Up Rigs MOPU Rigs Jack-up Barge Kuwait 1 Egypt Algeria 1 KSA 1 15 6 -- -- KSA Kuwait 2 12 -- -- -- 1H 2019 Revenue 1H 2019 Backlog Egypt 1 7 1 1 3 By Country By Country 5% 11% 18% 8 -- -- -- 4 Algeria 7% US$ US$ 46% 1.5bn 220m 55% 38% 20% 36 13 1 1 Total Onshore Rigs Jack-up Rigs MOPU Jack-up Barge KSA Egypt Algeria Kuwait KSA Kuwait Egypt Algeria 51 Rigs in 4 Countries ADES INTERNATIONAL HOLDING | 1H 2019 Results Presentation 5
Strong Financial Performance in 1H 2019 Backlog (US$ m) Revenue (US$ m) EBITDA (US$ m / % margin) 51.0% 49.2% 47.4% 40.9% 220 206 1504 101 158 1214 90 80 80 491.8 427 38 2017A 2018A 1H 2018 1H 2019 2017A 2018A 1H 2018 1H 2019 2017A 2018A 1H 2018 1H 2019 Operating Profit (US$ m / % margin) Net Profit (US$ m / % margin) Group Equity (US$ m) 28.3% 34.7% 17.6% 15.1% 37.3% 30.9% 34.7% 26.5% 71 442 423 71 LSE IPO 50 318 45 59 58 40 33 18 14 12 25 2017A 2018A 1H 2018 1H 2019 (Restated) Statutory Net Profit Normalised Net Profit 2017A 2018A (Restated) 1H 2019 2017A 2018A 1H 2018 1H 2019 ADES INTERNATIONAL HOLDING | 1H 2019 Results Presentation 6
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