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National Energy Services Reunited (NESR) investor relations material
National Energy Services Reunited Lytham Partners Fall 2025 Investor Conference summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Company overview and market positioning
Operates as the only pure play Middle East energy services provider, with 75%-80% of revenue from Saudi Arabia, U.A.E., Oman, and Kuwait.
Formed via SPAC in 2017, combining Gulf Energy and NPS to create a diversified oilfield services company.
Offers 20+ product and service lines, focusing on production services (70% of revenue) and drilling/evaluation (30%).
Employs over 6,500 people across 16 countries, serving major national oil companies like Saudi Aramco.
Aims to be top three in every service segment within three years, already leading in core production services.
Growth, financial performance, and stability
Achieved 20% annual revenue growth since inception, reaching $1.3B, with visibility to $2B in 18 months.
Outperformed regional growth (5% CAGR) and peers, with a 15% CAGR over five years.
Maintains leading margins and free cash flow, with a 10% free cash margin and double-digit free cash flow yield.
Deleveraged balance sheet after initial growth and acquisitions, now positioned for further expansion.
Relisted on NASDAQ in October 2024 after financial restatement and remediation of material weaknesses.
Technology strategy and innovation
Pursues an open technology platform, partnering globally to bring advanced solutions to the Middle East.
Leverages local manufacturing, academic partnerships, and rapid technology adoption to serve national oil companies.
Focuses on decarbonization (NEDA business), targeting a $5B+ TAM by 2030 in water, emissions, geothermal, and CCOS.
Expanding into high-margin tier one directional drilling, a $2.5B TAM niche in the region.
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