supported financial our a profitable strong and position We demand for a morning, solutions. services Expro Good enter XXXX top book a end continued trends by and of everyone. Karen. expectations. delivered Thank the strong for with order with fourth quarter at afternoon, our robust results growth in strong you, good
demonstrates broad footprint potential one to capitalize legacy Expro and been We’ve strong of of growth new driving XXXX profitability margins. to able expand the and secure and business since our efficiencies completing successfully recently our operating We our results and to year and International and Frank’s opportunities for platform. while crossed mark leverage improve key the areas market merger on relationships
broad leading and solutions our strong services geographical to execution, grow punch weight of continue portfolio new to our With footprint, mandates above and our we operational win business. and
will that momentum are We continue throughout to build growth we relative our confident achieve on to XXXX and strong beyond.
to the upcycle will of believe that an We upstream confident pipeline We multi-year are the global strong growth we remain are we capitalize support well-positioned for sector. this in projects extended on production. multi-year seeing energy underinvestment services period industry by of driven
and and win momentum We in strong order in to solutions. of and through demand. add key breadth production gaining continue projects, of to offshore through we expect portfolio and cycle the and business international demand expected in strong increases international With thereby to meet presence our innovative markets accelerate our longer capacity XXXX
trends. the As XX% Expro’s international markets, is industry these business capture XX% poised significant and in from based markets of Expro’s in to positive upside offshore
recently generation that above and continue growth, line top and towards capture industry market shift synergies, confident commercialized we expansion as related technologies cash margin drive this are will activities, We merger our strong margin we and upcycle. multi-year flow deployed higher investments through
pursue available adoption and capital allocation of Finally, smart, with the and shareholder-friendly focused provide sheet a liquidity to balance debt-free our us M&A synergies the flexibility framework.
I topics. on to call, main today’s touch plan On three
First, you performance. walk through quarter our I’ll fourth
process. on the And update give provide industry our perspective trends integration you a third, brief on some broader I’ll in we are I’ll Second, seeing environment.
million. $XX and EBITDA delivered of we quarter, of For million revenue adjusted the $XXX fourth
primarily was $XX driven on in by Excluding EBITDA more of $X revenue, a moment, adjusted I’ll at activity of segments across in or million costs a mix. subsea back come activity to favorable our a increased of the QX majority commissioning XX% which operating project, million
new growth important sequentially markets. relative and increased capture expertise fourth well to The relative Fourth due quarter sequentially of and key of to quarter XX% X% X% XX% to the quarter XXXX revenue new strategically accelerating and fourth by saw XXXX. the fourth and supported portfolio. our activity of breadth quarter-on-quarter revenue was develop wins Well quarter up construction technical the and business contract our
on I a particularly wins of. detail later we I’d are briefly to on, in will more these proud few into go so like that touch
We for Europe. allow production for to the solutions electricity contract in LNG Congo gas natural facility have commenced that’s long-term carbon a production low on incremental pre-treatment designed work liquefied gas in or generation
in of revenue outlined more million results, XX-year is $XXX contract I our generate for this than QX to As Expro. expected
Our to significant expertise supporting growing access critical operators will play in enable ability to role and quickly reserves a industry. and LNG Africa’s
that recognized for this We operate Expro selected contract and this lease, are differentiate solutions excited and maintain Eni Congo our to facility. turnkey
allow a commitment ability successful expedite will business to win that West to our partner in delighted and and that in contract highlight times similar of security. recent field Expro’s expertise particularly and technical record We win to developments track support exemplifies I’m frontier also delivery energy to us projects, continue for are our Africa. confident environmental
intervention projects workforce, for a well and Total strong designed commitment and solution local was energy locations engineered as solution delivery of on a innovative Algeria, reduction Expro awarded in globally Expro, Mozambique, our similar our in carbon Saudi, new of Egypt. based many such successful Uganda. contract environmental to and years employing to five-year Due
this in May on will commence work project XXXX. of Our
evaluating these sustainability rating from a one again we the are programs Supporting the that most recognition. of levels important a is Expro XXXX. to rating upgraded core companies our two by single-A sustainability clients MSCI business organizations ESG of have full received external BB in our to efforts and pleased
a disclosure and that have charity companies, global for their from rating the B manage environmental We impacts. achieved regions to investors, a cities, CDP, also upgrade runs an system not-for-profit states, to
and solution into do carbon we reducing our that which in both believe We sustainability of communities advance cross-company excellent the capabilities reflection a to to to to our reduction carbon and towards to efforts within build then of progress our as the future, business own part our the everything strategy operate. industry our is is a embed we and theirs. we’ll on manage assist strategy, solutions our clients continue and lower in our a technologies focus and emissions we the developing This necessary
place iTONG the UK. in such technology, system and a been in iTONG March enhance which is finalist the carbon that’s Expro and emerging is in category and system in The collective and ambitions. costs. suite one Expro’s our automation rig designed One on personnel achievements digital resulting named a has safety offshore operations takes a reduce technologies smaller award, of operational lower technologies support to to carbon advances the efficiency, improved reduction floor designed of and footprint
be We are partnerships depth develop can transferable and and work effect of of technologies to continue and in beyond when oil to well-established solutions. support sustainable expertise gas maximum our and that utilized demonstrating energy
develop geothermal globally. Our to business continues
for example, team delivered geothermal well Caribbean. pre-installation conductor For the wells three construction our in has
objectives in Conveyed carbon continue influence our sector, our the Wyoming. positively recent operate. In a we wells our on communities CCUS ethos addition, project which usage shoot-and-pull the to a for multiple grow contract including we advance work to Expro sustainability capture for promotes Perforating Tubing strategy business storage and to in
XX/X Expro solar on [indiscernible] project a in I that power we homes program collaboration in recently Today, in am Asli embarked a highlight Malaysia. panels Orang the solar community install pleased long-term organizations has Village. for with to numerous the to
that for We community. brighter the sets are to significant foundation such proud future a a support for project, which
excellence. expanding Most our them the award on Octopoda of focus to our Service in solutions the intervention and improve and services Company continue named well OWI new their Solution Integrated also We helps were unlock annulus in possibilities that for the projects. receive efficiency best the Champion which We portfolio Global recognize operations Innovative Awards, at recent customers with Well our intervention
business addition, XXXX entire our success March well of acquisition who Expro Distributed to SolaSense our of In issues One a Fiber was technology. production. surveillance Sensing field deliver involved in recent value customer to lift clients their Asia gas the performance Optic experiencing affecting through continues in
Expro’s and of evaluate days allowed customer and the with associated gas compared to available selected to the production during of full multiple two technologies. surveillance production maintain to also in other the jointly data shut-in times DFOS lift performance when the wells. evaluation DFOS service was integrity monitor The
the and services products for On offshore to valued and America, Latin a regional billion quarter, we premium contract In wins XX-month success globe. tubular on new with In approximately basis, one position contracts captured as Brazil, across provider and services fourth of continues TRS work $XXX team we $XX in million at the operational footing. construction approximately solid entered duration. running contract the team reinforce their North XXXX In our globally. well of
run first eliminates need makeup device technology its advance one to rig continues hands-free and and install the team anti-rotational a red Expro the the personnel offering construction time. hazardous to is which of Brazil, region. the reduces well The zone the on service and in companies for in
the of an in test Mexico, the service on major first Also to string past eighth additional of client by industry secured installing casings we international In quality. an well performance work with rig. be Mexico, and what we team Gulf a well construction our achieved the on ever believe first based generation superior Gulf
to Sub-Saharan Europe on and Africa. Moving
of help be campaign a solutions win with customer Our depths bespoke their our abandonment XX-well expected due also to believe technical semi-submersible in rig, and we contracts an UK Subsea a capabilities best-in-class to duration delivery. Abandonment & a offshore secure new Plug contract to of team Expro’s service and months. continues relationships what and for XX on
our running well complements Expro client cased team This in the for Holland. full Holland well Netherlands, for three-year demonstrate with testing in an and offshore value wireline winning a combined we hole of tubular our for contract to legacy services. In existing offering contracts continue work with client services this construction
with to facility relationship. are Service Nigeria. maintenance contract a provisions we on decades has this experience helped customer’s build for this on Expro and operations on of secure services a facility two-year production labor new this quality customer pleased and of in us and
on Africa. client of I mentioned Middle our contract have major delighted In award-winning earlier Congo use new to remarks. for North the a All international contract in are innovative Octopoda of of these in we mandates and exciting are new in top North East the and that technology my with Africa, award a secured
shut or a regaining or operators devices to it allowing sustained The development fluids, to in makes by directly intervention across resin replacing This annualized. and pressures feasible as provision economically surface from of Octopoda remediate intervention fields either and wells chemicals, in contract to includes wells, appropriate. of gas production annulus access casing annualized significant three-year low the services system pumping
of deployed proud to tremendous region. are we technology endorsement see capabilities it as We this see our the and the Octopoda a of in
our and Saudi Oman services a integrated construction in operations. secured We large United clients offshore well running the tubular both for and contract and onshore won rig-less in in test two Emirates support Arab also with team of well has sites contracts for
contract of the region, an wells, provision wells, a provision the water eight well a across wells, one work In wells XX shallow of exploration for construction TRS we key while estimated Asia-Pacific well months. and well for test contract development Malaysia, seven client duration team in wells for with secured nitrogen XX across our shallow test deepwater water six development XX of packages
we for Tubing XXXX. Conveyed India, for been testing of extended the a has offshore incumbents In Expro Perforating stem drill contract operations
call report to we wire LWI through well or completed test I’m successfully light well intervention have vessel on deployed happy solution. Finally, water, our what the that we
ready operationally the Our plan vessel we client. the LWI with now is and are system and owner work finalizing
expect to revenue project our generating to quarter. the LWI system commence be and the first Importantly, we during
reduce Our the to designed need a access is cost subsea drilling well eliminating the subsea differentiated by of rig. interventions for solution
This global is number age the important given of and inventory. the well increasing subsea
opportunities. magnitude, to additional As more million new with of $XX we expect system revenue an annual order generate our than revenue LWI of pull-through
Turning brief combination Expro on efforts. and update our Frank’s integration fourth closed quarter The to of in the business a XXXX.
business. year one as to team made efficiencies organization one the the significant together has I’m and very that progress mark global across we anniversary, come considerable capture our to As our pleased with
approximately achieved have $XX savings we annualized closing, cost Since million. of
revenue prior XXXX QX a Our from combined have just at XX% announcing in the support fourth of transaction of XX% quarter in XXXX. costs declined to
between synergies months As $XXX outlined million within revenue post-merger. XX months XX million previously, and to we are targeting cost to $XX
as fourth million cost Asia-Pacific the we additional facilities in full Europe, during We well Sub-Saharan timeframe. including in the synergies $XX region. will consolidated locations In that remain confident this projected quarter, the we and as achieve Africa
of we key migration to continue help first platform streamline a number to plan XXXX which With drive XXXX, third technical will in single a processes efficiencies. quarter ERP the to upgrades our and the of in organization, half of across the IT our additional us
more have difficult our revenue before, are synergies to quantify. I said As
to of be estimate very and EBITDA to expect increased field to of operating incremental full rig the our synergies from $XX million an footprint $XX greater relationships revenue exposure expanded We lifecycle to on conservative. that of and previous prove will customer the our million likely time
to market positive deepwater post-pandemic Before observing I remains are I outlook over trends to and existing assets The new Quinn, we turn perspective from the some Operators the fields provide call are production market. increasing as recovery in the XXXX on continues. for in offshore. want and developing
about our by construction services combine which management business, in access of America, well and Africa. business favors well driven activity of our subsea and currently This well services, complex activity represent South elements Sub-Saharan flow Asia, XX% our
North asset in and is and production LNG and particularly increasing, Africa. also gas to related Sub-Saharan associate Activity development
related We recent contract building high these areas technologies are demand production core of for upon awards. in value traditionally experiencing a Expro’s further strength
In addition, leading upstreaming minimize flow OpEx on amongst in their order represent brownfield and decline to there business. intervention many prior of expanding in these operators to is to customers assets. well well This us investments important our a their in well XX% for management utilized our existing their is budgets and of desire collectively productivity return operations This elements sustain of services is integrity their maximize their programs. Expro’s as lines at product investing about enhancement into our
footprint low of their are initiatives carbon operations. stewardship focused reduce their carbon operators investment environmental to increasingly the and Further, and energies on in expanding
is We trend. global their seeing This fabric a zero a heightened production as on The collective across that will carbon solutions to projects towards by engagements. sustainability our we see of recent our carbon business of a customer net commit partners supply growing customers and we We from chain to emissions is journey footprint lower to service emissions operators opportunity support for industry. increased not more are as believe as our ongoing and companies focus factor a focus a demonstrated future. part our become automation provide our on across our efficiency,
committed as to to technologies, and and we Carbon projects. continue bring skills Capture as established long our broadening are to geothermal such our for record our also the as sectors We operations well building services track
spending these leading Approximately XX% deliver for the growth offshore our considerable tied will is a geographic business activities us roughly shareholders. of confident recovery. our that of We’re our our and mix to of drilling of trends solutions early business to both markets, completions and services increasingly and returns are portfolio in to broad customer continue model, XX% footprint stages is areas that cyclical allow capture tied and compelling opportunities from
us customers in the international roughly markets need Similarly, to in generated with they activity well support most. XX% markets, we our on capitalize of are position acceleration of key revenue growth jurisdictions our where and in
month, largest shareholder. Hill Last Oak our behalf completed a of we stock also on offering Advisors, secondary
this increase not will and U.S. and relative evaluation shares any this peers. and float sell that to receive our offer, liquidity not important any is believe shares an close in discount our hopefully did to step largest Expro we While trading proceeds from
I’ll With discuss that in hand over financial Quinn our to hand, results. to
