By Christian Moess Laursen
Hunting, the energy-services group, has unveiled its strategic goals for 2030 ahead of its Capital Markets Day. The company has also reaffirmed its guidance for 2023 and 2024.
Ambitious Sales Targets
Hunting aims to achieve approximately $1.3 billion in annual sales by 2025, which is projected to rise to around $2 billion per year by the end of the decade.
Margins on the Rise
The company expects margins on earnings before interest, taxes, and amortization (EBITDA) to reach around 15% by 2025, with further progression expected by 2030.
For 2023, EBITDA is forecasted to range between $96 million and $100 million, with a margin of 10% to 11%. Looking ahead to 2024, EBITDA is anticipated to be between $125 million and $135 million, with a margin of 11% to 13%.
Confidence in Success
Jim Johnson, Chief Executive of Hunting, expressed confidence in the company’s ability to achieve its goals. He pointed to Hunting’s industry-leading product portfolio, its IP-protected technology, and manufacturing expertise as key factors that will contribute to success. Additionally, the company sees favorable market dynamics unfolding, further bolstering its confidence.
Commitment to Shareholders
In addition to its ambitious targets, Hunting plans to increase its dividend policy by 10% per year. Furthermore, the company is considering additional share buybacks to further enhance shareholder value.