ABL Group (ABL) Pareto Securities' 31st annual Energy Conference Presentation summary

Business overview

• Global, independent energy, marine, and engineering consultancy focused on de-risking and driving sustainability in renewables, maritime, and oil & gas projects and assets.

• Operates through brands including ABL, AGR, OWC, and Longitude, offering expertise in wells, reservoirs, renewables, marine operations, and digital solutions.

• Employs 1,758 staff across 70 offices in 42 countries, providing local expertise and rapid response worldwide.

• Delivered services in 2023 to over 1,200 maritime clients, supported 285 offshore wind projects, and executed 1,200+ rig moves in oil & gas.

Financial performance and growth

• Revenue base has grown 11x since 2017, reaching $350m LTM pro-forma as of Q2 2024, driven by acquisitions and organic growth.

• Key acquisitions include OWC, Braemar Technical Services, LOC Group, East Point Geo, OSD-IMT, Add Energy, AGR, Delta Wind Partners, Ross Offshore, and Hidromod.

• Ross Offshore acquired for $9.5m in June 2024, expanding wells and reservoir consultancy; consolidated from Q2 2024.

• Hidromod acquisition agreed, expected to close October 2024, enhancing water management and climate risk capabilities.

Market outlook

• Oil & gas market remains solid, with high activity expected for the rest of 2024 despite a downtick in jackup activity in Saudi Arabia.

• Offshore wind market faces delays due to high interest rates and developer caution, with recovery not expected before 2H 2025, but long-term prospects remain strong.

• Maritime sector remains stable, with ABL maintaining a strong market position.