Expro Group Holdings N.V. reported a total revenue of $1.607 billion for the fiscal year ending December 31, 2025, reflecting a decrease of 6.2% from $1.713 billion in 2024. The company's net income for the year was $51.7 million, slightly down from $51.9 million in the previous year. Despite the decline in revenue, Expro's Adjusted EBITDA increased by 1.6% to $353 million, resulting in an Adjusted EBITDA margin of 22%, up from 20.3% in 2024. The increase in profitability was attributed to a more favorable activity mix, particularly in the Europe and Sub-Saharan Africa (ESSA) and Middle East and North Africa (MENA) segments.
In terms of operational performance, Expro's revenue was segmented across four geographic regions: North and Latin America (NLA), Europe and Sub-Saharan Africa (ESSA), Middle East and North Africa (MENA), and Asia-Pacific (APAC). The NLA segment generated $558 million, a slight decrease from $566 million in 2024. The ESSA segment saw a more significant decline, with revenue falling to $487 million from $564 million. Conversely, the MENA segment experienced growth, increasing to $364 million from $332 million, while the APAC segment's revenue decreased to $199 million from $250 million.
Strategically, Expro has focused on enhancing its service offerings and expanding its market presence. The company completed the acquisition of Coretrax in May 2024, which is expected to bolster its capabilities in well construction and intervention services. Additionally, Expro's Board approved a stock repurchase program allowing for the buyback of up to $100 million of its common stock, reflecting a commitment to returning value to shareholders. As of December 31, 2025, the company had approximately 8,500 employees and operated in over 50 countries.
Looking ahead, Expro anticipates continued demand for its services, particularly in offshore and international markets, despite a challenging pricing environment. The company expects global oil consumption to rise, driven by non-OECD countries, and is positioned to capitalize on growth opportunities in deepwater projects and production optimization technologies. However, the outlook remains cautious due to potential geopolitical risks and market volatility, with Brent crude prices projected to average around $56 per barrel in 2026. Expro's management remains focused on leveraging its technological capabilities and maintaining operational efficiency to navigate these challenges.
About EXPRO GROUP HOLDINGS N.V.
Expro Group Holdings N.V. is a global provider of energy services supporting oil and gas exploration, development, and production. Its offerings include well construction, well management, subsea access, and well intervention solutions for onshore and offshore markets. With a focus on safety, innovation, and customer service, it serves major exploration and production companies worldwide, leveraging advanced technology and a diversified geographic footprint.
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