HUNTING PLC 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 |
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- 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 |
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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.
