2
A global technology and engineering Group supported by a deep knowledge of the global energy industry.
Our core competencies
- Leadership in components and systems design.
- Print-partand bespoke precision manufacturing.
- Expertise in metallurgy and materials performance engineering.
Our strategic differentiators position us strongly
- Diversified product portfolio across high-value, critical sectors.
- Commercial agility to navigate market cycles.
- Focused on robust ESG principles.
Our sectors of focus are resilient
- Oil and gas - onshore/offshore, North America and International.
- Energy transition - geothermal and carbon capture.
- Aviation and other non-oil and gas.
Our financial returns are gaining momentum
- Robust revenue and EBITDA growth profile.
- Improving margins, pricing and facility utilisation driving results.
- Focused on cash generation and strong capital returns.
Group financial performance 2020 - 2024e*
1200 | 180.0 | |||||||||
160.0 | ||||||||||
1000 | ||||||||||
$m | 140.0 | - $m | ||||||||
800 | 120.0 | |||||||||
Revenue- | EBITDA | |||||||||
100.0 | ||||||||||
600 | ||||||||||
80.0 | ||||||||||
400 | 60.0 | |||||||||
40.0 | ||||||||||
200 | ||||||||||
20.0 | ||||||||||
0 | - | |||||||||
2020 | 2021 | 2022 | 2023 | 2024e | ||||||
Revenue - $m | EBITDA - $m | |||||||||
HTG Share price June 2023 - May 2024
*2024e revenue / EBITDA based on analyst consensus May 2024 Source: Company
3
Oil and gas
PERFORATING
SYSTEMS
- Market leading perforating components and systems supported by strong IP.
- Key products include: integrated gun systems; detonating cord; energetics charges; and control instrumentation.
- Wheel and spoke manufacturing and distribution model.
- Short cycle business - small order book.
SUBSEA
- High performance products and solutions to deliver hydrocarbons safer and faster.
- Key products include: metal-to-metal seal couplings; titanium and steel stress joints; flow access modules; and flow intervention systems.
- Strong IP portfolio.
- Order book driven.
OCTG
- Three key proprietary premium and semi-premium connection families:
SEAL-LOCK ; WEDGE-LOCK ; and TEC-LOCK covering all energy-related resource types.
- International business supports OCTG pipe supply ranging from carbon steel to high nickel/chromium content.
- Order book driven.
ADVANCED MANUFACTURING
- Precision engineered products for the oil and gas, aviation, commercial space, naval, medical, power generation and military end-markets.
- High-valueprecision components, including turbine shafts, MWD housings, and ruggedised PCBs.
- Order book driven.
Non-oil and gas
ENERGY
TRANSITION
- Key offering includes: geothermal and carbon capture premium and semi-premium connections.
- Robust strategic supply chains delivering high performance alloy tubulars.
- Cross-overproduct opportunities for perforating and subsea technologies.
4
Conventional oil and gas basins Unconventional oil and gas basins
16 | 8 |
sites | |
sites |
4
sites
5
Over 500 patents and trademarks across
key technologies and geographies
*
Strong R&D focus
*
Competitive edge
*
Market leadership
* Countries with patent coverage
6
7
Acquisition: National Coupling Company (Stafford)
US$52.4m
Acquisition:
PT SMB
US$10.5m
Acquisition:
Welltonic
US$15.0m
Acquisition: Innova (Electronics)
US$122.6m
Acquisition:
Titan
US$771.4m
Acquisition:
Dearborn
US$81.9m
Acquisition:
Doffing
US$23.0m
Acquisition:
Specialty
US$39.5m
Acquisition: | |||
Acquisition: | RTI Energy | ||
Systems | |||
XLPP | (Spring) | ||
US$8.7m | US$12.5m |
Investment: | |||
Acquisition: | Cumberland | ||
Additive | |||
Enpro Subsea | Holdings LLC | ||
US$33.3m | |||
US$5.1m |
2008
Disposal:
Gibson Energy
US$772.3m
2009
Disposal:
Hunting
Energy France
US$17.4m
2010
2011 | 2012 | 2013 | 2015 | 2019 | ||
Disposal: | Disposal: | |||||
Field Aviation | Gibson | |||||
Shipbrokers | ||||||
US$8.1m | ||||||
US$3.7m | ||||||
2020 | 2021 | |||
Disposal: | Disposal: | |||
Drilling Tools | Marubeni Itochu | |||
purchase of | ||||
US$17.4m | Aberdeen OCTG | |||
US$31.5m |
8
- Proprietary perforating technologies including integrated gun systems, energetics charges, detonation cord, jet cutters and control instrumentation.
- Four manufacturing sites and 12 distribution centres across US and Canada.
- Strong IP platform to maintain market leadership - c.185 patents active in key operating regions.
- Key growth regions include South America, Saudi Arabia and China where unconventional resource developments are accelerating.
Recent developments
• Launch of the H-4 Perforating System , a self-orienting gun system that improves firing accuracy.
- Perf+ shooting panel launch to increase in-field efficiencies and firing.
- Recent restructuring includes closure of Oklahoma City manufacturing facility and two distribution centres.
Revenue 2021 to 2023 - $m | |||
300 | |||
250 | |||
200 | |||
$m | 150 | ||
100 | |||
50 | |||
0 | |||
2021 | 2022 | 2023 |
9
- Three distinct businesses, which provide technology and products to accelerate global offshore field developments and project cash flows.
- Stafford - metal-to-metal seal couplings used in subsea tree systems.
- Spring - steel and titanium stress joints (TSJs), applied to FPSOs.
- Enpro - flow access and intervention module systems, which enable low-cost injection and maintenance work to be competed.
- Strong IP platform to maintain market leadership - c.160 patents active in key operating regions.
Recent developments
- Continued success with TSJ sales growth through Exxon in Guyana.
- Stafford reporting sales momentum similar to the last super-cycle in 2010-2014.
- Enpro order book and sales accelerating as offshore market momentum continues its recovery post-COVID.
- Area of M&A focus given the outlook for deepwater developments.
Revenue 2021 to 2023 - $m
$m |
10
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Hunting plc published this content on 11 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2024 14:01:03 UTC.