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  "documentTitle": "barclays ceo energy power conference 2018",
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  "notes": "The slide uses a split-layout to contrast growth/margin metrics against cost/outlook metrics.",
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      "text": "Note: Adjusted Contribution Margin defined as Contribution as a percentage of Revenue. Contribution is defined as total revenue less cost of revenue excluding depreciation and amortization expense, adjusted for indirect support costs and stock-based compensation expense included in cost of revenue. 1) As compared to Q4 2020, which represents the full quarter prior to the Frank's merger announcement. 2) Excluding $2m, $4m, $17m, $5m, $11m, and $6m, respectively, of mobilization, start-up, commissioning and NPT costs on a large subsea project during Q1 through Q4 2022, Q1 2023 and Q2 2023, and Revenue/Margin on Eni-Congo project of $11m/$2m, $24m/$5m and $33m/$7m for Q4 2022, Q1 2023 and Q2 2023, Contribution Margin would have been $105m, $123m, $128m, $142m, $131m, and $150m, respectively, and Contribution Margin percentage would have been 38%, 39%, 38%, 42%, 42% and 43%, respectively. 3) Adjusted EBITDA Margin defined as Adjusted EBITDA as a percentage of Revenue. Adjusted EBITDA excludes mobilization, start-up and commissioning costs on a large subsea project during Q1, Q2, Q3, Q4 2022 and Q1 2023.",
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      "text": "<20%",
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      "text": "8%-10%",
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      "text": "Adjusted EBITDA Margin: +20%",
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      "kind": "title",
      "text": "Strong Business Momentum and Improved Operating Leverage Driving Increased Adjusted EBITDA and Free Cash Flow Margin",
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