Soiltech (STECH) Pareto Securities' 31st annual Energy Conference Presentation summary

Business overview and strategy

• Specializes in innovative cleantech waste management for the oil and gas sector, focusing on wastewater and solids treatment to support a greener future.

• Offers a full technology portfolio across the oil and gas life cycle, including water/fluid treatment, cuttings handling, and cleaning services.

• Blue-chip client base includes Equinor, Shell, AkerBP, TotalEnergies, and ADNOC, with strong recurring contracts and global reach.

• Expanding internationally, with increasing revenue share from outside Norway and a growing employee base.

• Strategic focus on leveraging technology, expanding geographically, and introducing new solutions to drive further growth.

Technology and competitive advantages

• Market-leading wastewater and slop treatment technologies enable high-capacity, energy-efficient recovery and reuse, reducing client CO2 emissions.

• Mechanical solutions eliminate the need for chemicals, lower transport requirements, and improve HSE on rigs.

• New initiatives include advanced cuttings treatment, automation, remote operations, and water purification to further reduce environmental impact.

• Offers a broader range of waste reduction, recovery, and reuse services than most competitors.

Financial performance and growth

• Achieved six consecutive years of profitable growth, with 2023 revenue of NOK 229.3 million and EBITDA margin of 21%.

• Maintains strong gross margins (41% in 2023) and visible profitability through medium/long-term contracts.

• Balance sheet strengthened by recurring revenues, proprietary technology, and significant assets for future deployment.

• Addressable market estimated at approximately 500 rigs globally, supporting further expansion.