Civeo Corporation (CVEO): Business Model Canvas

In der dynamischen Welt der Unterbringung von Remote-Arbeitskräften erweist sich die Civeo Corporation (CVEO) als zentraler Akteur, der die Art und Weise verändert, wie Energie-, Bergbau- und Infrastrukturprojekte ihre mobilen Arbeitskräfte unterstützen. Durch die nahtlose Verbindung umfassender Beherbergungslösungen mit umfassendem operativen Know-how hat Civeo ein ausgeklügeltes Geschäftsmodell entwickelt, das die komplexen Herausforderungen der Bereitstellung hochwertiger, sicherer und effizienter Wohnumgebungen an einigen der anspruchsvollsten und abgelegensten Orte der Welt bewältigt. Ihr innovativer Ansatz geht über bloße Unterkünfte hinaus und bietet integrierte Unterstützungsdienste, die für Unternehmen, die in schwierigen geografischen und logistischen Verhältnissen tätig sind, unverzichtbar geworden sind.

Civeo Corporation (CVEO) – Geschäftsmodell: Wichtige Partnerschaften

Öl- und Gasexplorationsunternehmen

Die Civeo Corporation unterhält strategische Partnerschaften mit großen Öl- und Gasexplorationsunternehmen, die in abgelegenen Regionen Kanadas, Australiens und der Vereinigten Staaten tätig sind.

Partnerunternehmen	Region	Vertragswert	Dauer
ConocoPhillips	Alaska	42,3 Millionen US-Dollar	3-Jahres-Vertrag
Suncor Energy	Alberta, Kanada	35,7 Millionen US-Dollar	5-Jahres-Vertrag
BHP-Gruppe	Westaustralien	28,5 Millionen US-Dollar	4-jährige Partnerschaft

Anbieter von Unterkünften für Remote-Mitarbeiter

Civeo ist auf die Bereitstellung von Unterkunftslösungen für Remote-Arbeitsumgebungen spezialisiert.

• Gesamtunterkunftskapazität: 16.500 Zimmer an mehreren Standorten
• Durchschnittliche Auslastung: 68,3 % im Jahr 2023
• Wichtige Unterkunftseinrichtungen in den Sektoren Ölsand, Bergbau und Baugewerbe

Transport- und Logistikdienstleistungen

Civeo arbeitet mit spezialisierten Transportanbietern zusammen, um die Logistik an entfernten Standorten zu unterstützen.

Logistikpartner	Servicetyp	Jährliches Transportvolumen
Trimac-Transport	Transport von Arbeitskräften	425.000 Passagiermeilen
Horizontlogistik	Gerätetransport	Jahresverträge im Wert von 18,6 Millionen US-Dollar

Auftragnehmer für die Wartung von Ausrüstung und Anlagen

Strategische Wartungspartnerschaften gewährleisten die betriebliche Effizienz abgelegener Unterkünfte.

• Jährliche Wartungsausgaben: 22,4 Millionen US-Dollar
• Anzahl der Wartungsdienstleister: 37
• Durchschnittliche Antwortzeit: 4,2 Stunden

Regionalregierung und indigene Gemeinschaftspartner

Civeo unterhält Kooperationsbeziehungen mit lokalen Regierungen und indigenen Gemeinschaften.

Region	Indigene Partnerschaft	Gemeinschaftsinvestition
Alberta, Kanada	Fort McKay First Nation	3,2 Millionen US-Dollar jährliche Investition
Westaustralien	Titelgruppe der Pilbara-Eingeborenen	Gemeindeentwicklungsfonds in Höhe von 2,7 Millionen US-Dollar

Civeo Corporation (CVEO) – Geschäftsmodell: Hauptaktivitäten

Bereitstellung von Unterkunfts- und Bewirtungsdiensten für Telearbeiter

Ab 2024 betreibt die Civeo Corporation 21 Lodges mit 9.400 Zimmern in Kanada, Australien und den Vereinigten Staaten. Im Jahr 2023 lag die durchschnittliche Auslastung aller Unterkünfte für Telearbeiter bei 67,3 %.

Standort	Anzahl der Lodges	Gesamtzahl der Zimmer
Kanada	11	4,800
Australien	6	3,200
Vereinigte Staaten	4	1,400

Verwaltung von Unterkünften für Arbeitskräfte

Civeo verwaltet die komplexe Logistik für die Unterbringung von Remote-Arbeitskräften spezielle Betriebsprotokolle.

• Jährliches Facility-Management-Budget: 42,3 Millionen US-Dollar
• Engagiertes Facility-Management-Personal: 1.150 Mitarbeiter
• Durchschnittliche Kosten für die Instandhaltung der Anlage pro Zimmer: 4.600 $ pro Jahr

Catering- und Verpflegungsdienstleistungen an abgelegenen Orten

Im Jahr 2023 servierte Civeo rund 3,2 Millionen Mahlzeiten in seinem Remote-Einrichtungsnetzwerk.

Servicekategorie	Jährliche Mahlzeiten	Durchschnittliche Tageskosten pro Person
Frühstück	1,100,000	$18.50
Mittagessen	1,050,000	$22.75
Abendessen	1,050,000	$26.90

Anlagenwartung und Betriebsunterstützung

Die Wartungsausgaben beliefen sich im Jahr 2023 in ihren weltweiten Betrieben auf insgesamt 37,6 Millionen US-Dollar.

• Budget für vorbeugende Wartung: 22,4 Millionen US-Dollar
• Reaktives Wartungsbudget: 15,2 Millionen US-Dollar
• Durchschnittlicher Geräteaustauschzyklus: 5–7 Jahre

Temporäres Wohnungsmanagement für Projekte im Energiesektor

Civeo unterstützt Projekte im Energiesektor mit speziellen Unterkunftslösungen.

Projekttyp	Aktive Projekte	Gesamtzahl der zugewiesenen Zimmer
Öl & Gas	14	5,600
Bergbau	6	2,800
Erneuerbare Energie	3	1,000

Civeo Corporation (CVEO) – Geschäftsmodell: Schlüsselressourcen

Umfangreiches Netzwerk an abgelegenen Unterkunftsmöglichkeiten

Im Jahr 2024 betreibt die Civeo Corporation etwa 27 Beherbergungsbetriebe in Kanada, den Vereinigten Staaten und Australien. Gesamtbettenzahl: 14.300 Zimmer.

Standort	Anzahl der Einrichtungen	Gesamtzahl der Betten
Kanada	12	6,500
Vereinigte Staaten	8	4,200
Australien	7	3,600

Strategische Standorte in der Nähe großer Energieprojektstandorte

Die Anlagen von Civeo sind strategisch in der Nähe wichtiger Energieentwicklungsregionen positioniert.

• Alberta Oil Sands: 8 Einrichtungen
• Permian Basin, Texas: 4 Einrichtungen
• Bowen Basin, Australien: 5 Einrichtungen

Spezialisierte Infrastruktur für raue Umgebungen

Kapitalinvestition in spezialisierte Infrastruktur: 142,3 Millionen US-Dollar im Jahr 2023.

Infrastrukturtyp	Investitionsbetrag
Modulare Wohneinheiten	68,5 Millionen US-Dollar
Remote-Standortlogistik	45,2 Millionen US-Dollar
Technologieinfrastruktur	28,6 Millionen US-Dollar

Erfahrenes Workforce-Management-Team

Gesamtzahl der Mitarbeiter im Jahr 2024: 1.850 in drei Ländern.

• Senior Management: 42 Führungskräfte
• Betriebspersonal: 1.200
• Support-Personal: 608

Robuste Betriebs- und Logistikfähigkeiten

Jährliche Kennzahlen zur betrieblichen Effizienz:

Metrisch	Leistung
Auslastung	78.5%
Durchschnittliche Aufenthaltsdauer	42 Tage
Reaktionszeit der Logistik	6,2 Stunden

Civeo Corporation (CVEO) – Geschäftsmodell: Wertversprechen

Umfassende Unterbringungslösungen für Remote-Mitarbeiter

Die Civeo Corporation bietet Unterkunftsmöglichkeiten an abgelegenen Orten in Kanada, Australien und den Vereinigten Staaten. Ab 2023 betreibt das Unternehmen 23 Lodges mit rund 10.500 Zimmern für Arbeitnehmer im Energiesektor.

Geografische Region	Anzahl der Lodges	Gesamtraumkapazität
Kanada	12	5.800 Zimmer
Australien	7	3.200 Zimmer
Vereinigte Staaten	4	1.500 Zimmer

Hochwertige, sichere und komfortable Wohnumgebungen

Civeo bietet einen hohen Standard an Unterkünften mit den folgenden Merkmalen:

• Sicherheitsüberwachung rund um die Uhr
• Moderne Infrastruktur
• Einhaltung internationaler Sicherheitsstandards
• Spezielle Wellnesseinrichtungen

Integrierte Unterstützungsdienste für Personal im Energiesektor

Das Unternehmen bietet umfassende Supportdienste mit einem jährlichen Betriebsbudget von 185 Millionen US-Dollar, darunter:

• Catering-Dienstleistungen
• Hauswirtschaft
• Transport
• Freizeiteinrichtungen

Kostengünstige Lösungen für die Unterbringung von Arbeitskräften

Im Jahr 2023 lag der durchschnittliche Tagespreis für Unterkünfte bei Civeo bei 125 US-Dollar, was eine wettbewerbsfähige Preisstrategie für die Unterbringung von Remote-Arbeitskräften darstellt.

Effizientes Betriebsmanagement an anspruchsvollen Standorten

Betriebsmetrik	Leistung 2023
Auslastung	78%
Jahresumsatz	454,2 Millionen US-Dollar
Betriebseffizienz	65 % Kostenmanagement

Civeo Corporation (CVEO) – Geschäftsmodell: Kundenbeziehungen

Langfristige vertragsbasierte Partnerschaften

Im Jahr 2024 unterhält die Civeo Corporation 87 langfristige Unterbringungsverträge mit großen Rohstoffgewinnungsunternehmen in Kanada, Australien und den Vereinigten Staaten. Die durchschnittliche Vertragslaufzeit beträgt 5,2 Jahre mit einem Gesamtvertragswert von 412,6 Millionen US-Dollar.

Region	Anzahl der Verträge	Durchschnittlicher Vertragswert
Kanada	42	187,3 Millionen US-Dollar
Australien	28	132,5 Millionen US-Dollar
Vereinigte Staaten	17	92,8 Millionen US-Dollar

Dedizierte Kontoverwaltung

Civeo beschäftigt in seinen operativen Regionen 62 engagierte Kundenbetreuer mit einer durchschnittlichen Kundenbindungsrate von 94,3 %.

• Der durchschnittliche Account Manager kümmert sich um 3–4 wichtige Kundenbeziehungen
• Für jedes Konto werden vierteljährliche Leistungsüberprüfungen durchgeführt
• Spezialisiertes Schulungsprogramm für das Account-Management-Team

Maßgeschneiderte Anlagenlösungen

Civeo bietet 173 maßgeschneiderte Unterkünfte mit einer Gesamtkapazität von 52.348 Zimmern in ressourcenreichen Regionen.

Einrichtungstyp	Anzahl der Einrichtungen	Gesamtraumkapazität
Permanente Lager	89	28.642 Zimmer
Modulare Camps	64	17.856 Zimmer
Temporäre Einrichtungen	20	5.850 Zimmer

Betriebsunterstützung rund um die Uhr

Das operative Support-Team besteht aus 246 engagierten Mitarbeitern, die an allen Standorten weltweit einen kontinuierlichen Service bieten.

• Durchschnittliche Antwortzeit: 12 Minuten
• Mehrsprachiger Support in 4 Sprachen verfügbar
• Spezielle Notfallreaktionsprotokolle

Regelmäßige Leistungs- und Zufriedenheitsbeurteilungen

Die jährliche Kundenzufriedenheitsumfrage zeigt eine Kundenzufriedenheitsrate von 91,7 % in allen operativen Regionen.

Bewertungsmetrik	Punktzahl
Gesamtzufriedenheit	91.7%
Servicequalität	89.4%
Anlagenwartung	93.2%

Civeo Corporation (CVEO) – Geschäftsmodell: Kanäle

Direktvertriebsteams

Ab 2024 verfügt die Civeo Corporation über ein engagiertes Vertriebsteam von 47 Direktvertriebsexperten, die sich an Kunden aus der Energie- und Bergbauindustrie richten.

Vertriebsteam-Metrik	Wert
Gesamtes Personal im Direktvertrieb	47
Durchschnittliche Verkaufserfahrung	8,6 Jahre
Geografische Abdeckung	Nordamerika, Australien

Konferenzen der Energiewirtschaft

Civeo nimmt jährlich an 12 großen Konferenzen der Energiebranche teil und verfügt über ein geschätztes Marketingbudget von 425.000 US-Dollar für konferenzbezogene Aktivitäten.

• Besuchte Konferenzen: 12 pro Jahr
• Marketingbudget der Konferenz: 425.000 US-Dollar
• Hauptkonferenzorte: Houston, Calgary, Perth

Online-Buchungsplattformen

Das Unternehmen nutzt zwei primäre Online-Buchungsplattformen mit einer digitalen Buchungsabschlussquote von 98,3 % im Jahr 2024.

Online-Plattform	Abschlussrate digitaler Buchungen
Civeo Direktbuchungsportal	95.7%
Energieunterkunftsplattform eines Drittanbieters	2.6%

Unternehmenswebsites

Civeo betreibt zwei primäre Unternehmenswebsites mit monatlichem Traffic von 87.500 einzelnen Besuchern.

• Unternehmenswebsites: 2
• Monatliche einzigartige Besucher: 87.500
• Website-Sprachen: Englisch, Französisch

Branchenspezifische Networking-Events

Das Unternehmen beteiligt sich jährlich an 24 branchenspezifischen Networking-Events mit einem Networking-Event-Budget von 275.000 US-Dollar.

Metrik für Netzwerkereignisse	Wert
Total Networking-Events	24
Budget für Networking-Events	$275,000
Primäre Netzwerkregionen	Kanada, Vereinigte Staaten, Australien

Civeo Corporation (CVEO) – Geschäftsmodell: Kundensegmente

Öl- und Gasexplorationsunternehmen

Die Civeo Corporation beliefert große Öl- und Gasexplorationsunternehmen, die an abgelegenen Standorten tätig sind. Im vierten Quartal 2023 betreute das Unternehmen nach eigenen Angaben 87 aktive Öl- und Gasexplorationskunden in ganz Nordamerika.

Kundensegment	Anzahl der Kunden	Jährlicher Umsatzbeitrag
Öl- und Gasexplorationsunternehmen	87	213,4 Millionen US-Dollar

Bergbauunternehmen

Civeo bietet Bergbauunternehmen in abgelegenen Regionen Unterkunfts- und Personallösungen. Im Jahr 2023 unterstützte das Unternehmen 42 Bergbaukunden an mehreren geografischen Standorten.

Aufschlüsselung der Bergbausegmente	Anzahl der Kunden	Geografische Regionen
Bergbauunternehmen	42	Kanada, Australien

Bauprojektteams

Civeo unterstützt große Bauprojekte, die die Unterbringung von Arbeitskräften aus der Ferne erfordern. Im Jahr 2023 verwaltete das Unternehmen Unterkünfte für 29 Bauprojektteams.

• Durchschnittliche Projektdauer: 18-24 Monate
• Typische Unterbringungskapazität: 500–1.500 Arbeiter
• Geografischer Schwerpunkt: Westkanada, Nord-Alberta

Entwickler erneuerbarer Energien

Civeo hat seinen Kundenstamm um Projekte zur Entwicklung erneuerbarer Energien erweitert. Im Jahr 2023 unterstützte das Unternehmen 15 Kunden im Bereich erneuerbare Energien.

Segment Erneuerbare Energien	Anzahl der Kunden	Projekttypen
Entwickler erneuerbarer Energien	15	Wind, Sonne, Wasserstoff

Infrastrukturprojekte der Regierung

Civeo bietet Unterkunftslösungen für die staatlich geförderte Infrastrukturentwicklung. Im Jahr 2023 unterstützte das Unternehmen acht staatliche Infrastrukturprojekte.

• Arten von Infrastrukturprojekten: Transport, Energie, Ressourcenentwicklung
• Gesamtwert des Regierungsprojekts: 127,6 Millionen US-Dollar
• Durchschnittliche Projektdauer: 36 Monate

Civeo Corporation (CVEO) – Geschäftsmodell: Kostenstruktur

Anlagenbau und -wartung

Im Jahresbericht 2023 meldete die Civeo Corporation einen Gesamtwert an Sachanlagen (brutto) von 1,023 Milliarden US-Dollar. Die jährlichen Wartungskosten für die Anlage beliefen sich auf etwa 42,3 Millionen US-Dollar.

Einrichtungstyp	Jährliche Wartungskosten
Lodges	18,7 Millionen US-Dollar
Unterkünfte für Arbeitskräfte	23,6 Millionen US-Dollar

Löhne und Schulung der Mitarbeiter

Die Gesamtvergütung der Mitarbeiter belief sich im Jahr 2023 auf 153,4 Millionen US-Dollar und teilte sich wie folgt auf:

• Löhne: 127,6 Millionen US-Dollar
• Schulung und Entwicklung: 6,2 Millionen US-Dollar
• Leistungen und Vergütung: 19,6 Millionen US-Dollar

Transport- und Logistikkosten

Die transportbezogenen Kosten beliefen sich im Jahr 2023 auf insgesamt 37,8 Millionen US-Dollar, darunter:

Transportkategorie	Jährliche Ausgaben
Fahrzeugwartung	12,4 Millionen US-Dollar
Treibstoffkosten	15,6 Millionen US-Dollar
Logistikmanagement	9,8 Millionen US-Dollar

Ausrüstungs- und Infrastrukturinvestitionen

Die Investitionsausgaben für 2023 beliefen sich auf 34,5 Millionen US-Dollar und verteilten sich auf:

• Infrastruktur-Upgrades: 22,3 Millionen US-Dollar
• Geräteaustausch: 12,2 Millionen US-Dollar

Betriebs- und Verwaltungsaufwand

Der Verwaltungsaufwand für 2023 belief sich auf 46,2 Millionen US-Dollar, darunter:

Overhead-Kategorie	Jährliche Kosten
Verwaltungskosten des Unternehmens	24,7 Millionen US-Dollar
Technologie und Systeme	11,5 Millionen US-Dollar
Compliance und Recht	10 Millionen Dollar

Civeo Corporation (CVEO) – Geschäftsmodell: Einnahmequellen

Langfristige Mietverträge für Räumlichkeiten

Im Jahr 2023 meldete die Civeo Corporation einen Gesamtumsatz von 462,9 Millionen US-Dollar, wobei ein erheblicher Teil aus langfristigen Mietverträgen für Einrichtungen im Gastgewerbe und Beherbergungssektor für Remote-Arbeitsstandorte stammte.

Vertragstyp	Jahresumsatz	Durchschnittliche Vertragsdauer
Öl & Gasferne Unterkunft	247,3 Millionen US-Dollar	3-5 Jahre
Unterbringung am Bergbaustandort	163,6 Millionen US-Dollar	2-4 Jahre
Vermietung von Baucamps	52 Millionen Dollar	1-3 Jahre

Übernachtungskosten pro Person

Civeo berechnet für Unterkunftsdienstleistungen in verschiedenen Branchensegmenten Preise pro Person.

• Durchschnittlicher Tagespreis für die Unterkunft: 85–150 $ pro Person
• Auslastung 2023: 68,4 %
• Gesamteinnahmen aus der Unterkunft: 276,5 Millionen US-Dollar

Gebühren für Catering und Verpflegung

Der Lebensmittelservice stellt eine wesentliche Einnahmequelle für die Civeo Corporation dar.

Kategorie „Food-Service“.	Jahresumsatz	Prozentsatz des Gesamtumsatzes
Full-Service-Catering	87,4 Millionen US-Dollar	18.9%
Cafeteria-Betrieb	62,1 Millionen US-Dollar	13.4%

Anlagenwartungsdienste

Wartungsdienste generieren zusätzliche Einnahmen für die Civeo Corporation.

• Jährlicher Wartungsumsatz: 41,2 Millionen US-Dollar
• Durchschnittliche Laufzeit des Wartungsvertrags: 2-3 Jahre
• Servicearten: Gebäudereinigung, Reparatur und Infrastrukturmanagement

Einnahmen aus ergänzenden Support-Services

Civeo bietet zusätzliche Supportdienste zur Steigerung der Umsatzgenerierung.

Zusatzservice	Jahresumsatz	Schlüsselmärkte
Transportdienstleistungen	22,7 Millionen US-Dollar	Öl & Gas, Bergbau
Wäscheservice	15,3 Millionen US-Dollar	Remote-Arbeitsstandorte
Technologieunterstützung	8,6 Millionen US-Dollar	Bau- und Industriestandorte

Civeo Corporation (CVEO) - Canvas Business Model: Value Propositions

You're looking at the core value Civeo Corporation delivers to its industrial clients, which is really about de-risking their remote operations by taking on the burden of workforce accommodation and services. This isn't just about beds; it's about guaranteed service delivery in tough spots.

Comprehensive, full-service workforce accommodation solutions

Civeo Corporation provides a complete package of hospitality services for workers in remote energy, mining, and construction sites. This offering goes beyond just shelter. It includes catering, food services, housekeeping, facility maintenance, laundry, and even utility management like water and wastewater treatment, plus security and logistics.

To give you a sense of scale as of late 2025, Civeo currently owns and operates a total of 28 lodges and villages across Australia and North America, aggregating approximately 27,500 rooms. Also, they manage an additional 24 customer-owned locations, which house more than 19,000 rooms. This dual capacity-owned and managed sites-is key to their service flexibility.

Here's a snapshot of their operational footprint:

Metric	Owned Sites (Australia & North America)	Customer-Owned Sites
Number of Locations	28	24
Aggregate Room Count	Approx. 27,500 rooms	More than 19,000 rooms

Reliable, high-quality lodging in remote, hard-to-reach areas

The reliability Civeo offers is directly tied to their ability to secure long-term commitments, especially in high-demand regions like the Australian Bowen Basin. They focus on providing comfortable living quarters that keep workforces productive where local infrastructure simply doesn't exist.

For example, a recent contract renewal in the Bowen Basin is expected to generate approximately A$250 million in total revenues spanning from 2025 through 2029. This demonstrates their ability to lock in revenue streams even when commodity markets face volatility.

The financial performance in their key growth area reflects this value:

• Civeo's Australian segment generated revenues of $124.5 million in the third quarter of 2025.
• The Australian segment's Adjusted EBITDA for Q3 2025 was $26.7 million.

Operational efficiency via Asset Light model for customer-owned sites

This is where Civeo Corporation truly differentiates its financial profile. The Asset Light model means they generate significant revenue from providing services (catering, facility management) at sites the customer owns, which requires minimal capital expenditure from Civeo.

Honestly, this model is a cash flow engine. Approximately two-thirds of Civeo's global revenue comes from these Asset Light services. This focus helps insulate margins, which is evident when you look at their overall guidance for the full year 2025, tightened to an Adjusted EBITDA range of $86 million to $91 million.

The contrast with their asset-heavy Canadian segment, which faced headwinds, shows the model's benefit. For instance, in Q1 2025, the Canadian segment generated revenues of only $40.4 million.

Long-term contract stability, including take-or-pay agreements

Stability comes from contracts that guarantee minimum payments, insulating Civeo from immediate customer production slowdowns. These take-or-pay agreements are central to their value proposition in Australia.

Consider the recent acquisition of four Bowen Basin villages, completed in May 2025. This move was specifically tied to securing associated take-or-pay contracts projected to add A$64 million in annualized revenue over the next three years. Furthermore, a major six-year integrated services contract announced in early 2025 is anticipated to generate approximately A$1.4 billion in revenues over the 2025-2030 period.

This contract structure underpins their financial outlook. For the third quarter of 2025, Civeo reported consolidated revenues of $170.5 million and an Adjusted EBITDA of $28.8 million. Finance: draft 13-week cash view by Friday.

Civeo Corporation (CVEO) - Canvas Business Model: Customer Relationships

You're looking at how Civeo Corporation (CVEO) locks in its revenue, and honestly, it all comes down to deep, long-term relationships with massive resource players. This isn't about transactional sales; it's about becoming an indispensable partner for their remote workforce accommodations and services.

Dedicated account management for large, long-term resource clients

Civeo Corporation structures its client engagement around dedicated support, which is key for keeping those multi-year, high-value agreements running smoothly. The CEO, Bradley J. Dodson, often points to the strength of these relationships as a core asset, especially when securing renewals even when commodity markets, like metallurgical coal, see some softness. This suggests a high level of service integration and trust that goes beyond just the basic lodging provision. You see this commitment reflected in the expansion of services for existing clients.

• Civeo operates and provides hospitality services at 24 customer-owned locations.
• The company owns and operates an aggregate of approximately 27,500 rooms across 28 lodges and villages in Australia and North America.
• The strategy is clearly focused on growing the Australian integrated services business, aiming for a revenue target of $A500 million by 2027.

Contractual relationships, often multi-year and high-value (e.g., A$250 million contract)

The financial backbone of Civeo Corporation's customer relationships is its portfolio of long-duration, substantial contracts. These aren't small deals; they represent years of guaranteed revenue, which is exactly what supports their capital-light model. For instance, in June 2025, Civeo Corporation announced a four-year contract renewal in the Australian Bowen Basin, expected to generate approximately A$250 million in total revenues between 2025 and 2029. That's a solid, predictable revenue stream right there. But to be fair, that's not even the biggest one they've landed recently.

Here's a look at some of the major contractual wins that define this relationship strategy as of late 2025:

Contract Detail	Duration	Anticipated Revenue (Approximate)	Effective/Award Period
Integrated Services Renewal (Western Australia)	Six-Year	A$1.4 billion (over 2025-2030)	Effective January 1, 2025
Rooms & Hospitality Renewal (Bowen Basin)	Four-Year	A$250 million (over 2025-2029)	Awarded June 2025
Integrated Services Award (Queensland)	Three-Year	A$64 million (over 2025-2028)	Awarded May 2025

The six-year deal in Western Australia, for example, expanded Civeo Corporation's scope from seven to eleven villages for one leading resources player, showing how they deepen their footprint with trusted clients. This kind of multi-year commitment is what allows the company to plan its capital allocation, like the plan to use no less than 100% of its annual free cash flow for share repurchases, as announced in 2025.

High-touch service delivery for on-site hospitality and facility management

The longevity of these contracts is directly tied to the quality of the service delivery on the ground. Civeo Corporation's offering is comprehensive, moving well beyond just providing a bed. They are managing the entire living experience for thousands of workers. This high-touch approach is what secures the renewal, as the CEO noted when discussing the A$250 million contract, emphasizing their ability to provide room supply surety with a consistent service offering at a competitive price. The integrated services contracts explicitly include a wider scope of responsibilities.

The expanded scope in the A$1.4 billion contract renewal includes:

• Catering and retail services.
• Village, mine, and port site cleaning services.
• Facilities maintenance.
• Provision of health and wellbeing solutions.

This means Civeo Corporation is embedded in the daily operations of their clients' remote sites. If onboarding takes 14+ days, churn risk rises, so efficiency in service setup is critical for maintaining these relationships.

Finance: draft 13-week cash view by Friday.

Civeo Corporation (CVEO) - Canvas Business Model: Channels

You're looking at how Civeo Corporation delivers its remote accommodation and facility management services to its industrial clients. The channel strategy clearly splits between owning the physical assets and managing assets owned by the customer. This split is reflected in their revenue mix, showing a strong reliance on the asset-light side.

As of the third quarter of 2025, Civeo Corporation reported total revenues of $170.5 million for the quarter, with a tightened full-year 2025 revenue guidance set between $640 million and $655 million, targeting an Adjusted EBITDA guidance of $86 million to $91 million for the year.

Directly owned and operated lodges and villages (Asset Heavy)

This channel involves Civeo owning the physical infrastructure, which is the asset-heavy component. The company maintains a robust network of facilities to support major resource projects. As of late 2025 context, Civeo operates a network comprising 28 lodges and villages across North America and Australia, offering approximately 27,500 rooms in total. This segment includes the four villages acquired in the Australian Bowen Basin in May 2025.

The financial contribution from the asset-heavy side is substantial, though the asset-light services often dominate the top line. For instance, in the third quarter of 2025, the Australian segment, which includes owned villages, generated $124.5 million in revenue.

Management and service contracts for 24 customer-owned locations (Asset Light)

This is the asset-light channel, where Civeo Corporation provides Catering and Facility Management services to sites owned by the customer. This approach requires less capital expenditure to maintain and scale quickly. As of the first quarter of 2025, management noted that approximately two-thirds of their global revenue was generated from this Asset Light: Catering and Facility management business. The outline specifies this channel includes management and service contracts for 24 customer-owned locations.

The Canadian segment, which has a higher proportion of asset-light services and is actively being right-sized, still contributed $46.0 million in revenue in the third quarter of 2025. The company is actively shifting strategy in Canada, reducing its dependency on the oil sands, which historically drove much of this business, and is exploring deploying mobile camps as a new growth lever.

Direct sales teams targeting major energy, mining, and construction firms

The direct sales effort is the mechanism for securing the long-term contracts that underpin both the asset-heavy and asset-light channels. These teams focus on securing multi-year agreements with major industrial players in the resource sector. The success of this channel is evidenced by contract awards, such as the previously announced four-year contract at owned-villages in the Bowen Basin with expected revenues of A$250 million and a three-year integrated services contract with expected revenues of A$64 million, both awarded in Q2 2025.

The sales focus is clearly segmented by geography and industry exposure, with a strategic pivot to de-risk from the Canadian oil sands market. The Australian business, driven by metallurgical coal producers, showed strong growth, with Q3 2025 Adjusted EBITDA up 19% year-over-year, aided by the integration of newly acquired owned-villages.

Channel Component	Metric/Data Point	Value (Latest Available)
Asset Heavy (Owned)	Total Rooms Across All Locations	~27,500 rooms
Asset Heavy (Owned)	Number of Lodges and Villages	28
Asset Light (Contracts)	Specified Customer-Owned Locations	24 locations (as per outline)
Asset Light (Revenue Share)	Proportion of Global Revenue (Q1 2025)	Approximately two-thirds
Sales Success (Contract Value Example)	Bowen Basin Owned Village Contract (4-Year)	A$250 million expected revenue

The operational discipline is key to channel profitability. For example, cost-cutting actions in the Canadian segment in Q3 2025 resulted in direct field level costs being reduced by 29% year-over-year and indirect operating overhead costs by 23%.

Civeo Corporation (CVEO) - Canvas Business Model: Customer Segments

You're looking at where Civeo Corporation puts its service focus, which clearly breaks down by geography and the type of industrial activity driving demand for remote lodging.

Civeo Corporation currently owns and operates a total of 28 lodges and villages in North America and Australia, offering an aggregate of approximately 27,500 rooms. Additionally, Civeo Corporation provides hospitality services at 24 customer-owned locations, adding approximately 19,500 rooms to their operational footprint.

The customer base is primarily segmented by the resource sector and geography, which you can see reflected in the segment financial performance for the third quarter ended September 30, 2025:

Segment/Metric	Q3 2025 Revenue (USD)	Q3 2024 Revenue (USD)	Q3 2025 Adjusted EBITDA (USD)	Billed Rooms (Q3 2025)
Canadian Segment (North America)	$46.0 million	$57.7 million	$8.0 million	383,000
Australian Segment	$124.5 million	$116.6 million	$26.7 million	763,000 (Owned Villages)

The customer segments are defined by the following industrial activities and characteristics:

• Major oil sands producers in the Canadian energy sector.
• Metallurgical coal and other natural resource companies in Australia (e.g., Bowen Basin).
• Energy and mining companies requiring remote, temporary accommodations.

Focusing on the Canadian oil sands customers, you see a clear near-term headwind; revenues for this segment dropped to $46.0 million in Q3 2025 from $57.7 million year-over-year. The daily room rate in U.S. dollars for the Canadian segment was $100 in Q3 2025, flat with Q3 2024.

The Australian segment, serving natural resource companies, is the growth engine, showing revenue of $124.5 million in Q3 2025, a 7% increase period-over-period. This growth is supported by specific, large contracts:

• A leading resources player in Western Australia awarded a six-year contract extension effective January 1, 2025, anticipated to generate approximately A$1.4B in revenues over the 2025-2030 period.
• Civeo Corporation is targeting an Australian integrated services revenue of A$500 million by 2027.
• The Australian segment saw owned village billed rooms rise 18% year-over-year to 763,000 in Q3 2025, partly due to the acquisition of four villages in the Bowen Basin completed in Q2 2025.

The North American customer base, which includes the Canadian oil sands, is seeing customers prioritize cost reductions, leading to underutilized mobile camp assets. Civeo Corporation has responded by implementing cost-cutting measures since Q4 2024 to streamline its North American cost structure.

Civeo Corporation (CVEO) - Canvas Business Model: Cost Structure

When you look at Civeo Corporation's cost structure, you see a clear split between the heavy, necessary investment in physical assets and the day-to-day operational expenses tied directly to customer activity. It's a model that requires careful management of both fixed and variable components to maintain profitability, especially when customer spending in key areas like the Canadian oil sands shifts.

The fixed costs are substantial, rooted in owning and maintaining the physical infrastructure that supports their service delivery. This includes the lodges and villages themselves, which require ongoing upkeep to meet operational standards. You can see this commitment in the capital expenditure guidance Civeo Corporation set for the full year 2025, which they maintained at a range of $20 million to $25 million. This CapEx is primarily directed toward maintenance spending on their owned lodges and villages, keeping the core assets ready for service.

The variable costs are where the day-to-day performance really hits the bottom line. These costs scale with occupancy and service levels and are dominated by food, labor, and hospitality services. For instance, in the second quarter of 2025, Civeo Corporation reported a Gross Profit of $41.2 million on revenues of $162.7 million, resulting in a Gross Margin of 25.3%. This margin reflects the direct costs of running the operations-the food you serve, the staff you schedule, and the immediate housekeeping needs-which fluctuate as billed rooms change.

To manage headwinds, especially in Canada, Civeo Corporation has taken direct action, leading to one-time charges. In the first quarter of 2025, as part of right-sizing the North American cost structure, which included reducing the Canadian employee headcount by approximately 25%, the company recorded a restructuring charge of approximately $1.0 million. This kind of charge is a non-recurring cost aimed at lowering the future operating expense base.

Finally, you can't ignore the cost of capital. Civeo Corporation's balance sheet as of September 30, 2025, showed a net debt position of $176 million. Servicing this level of indebtedness translates directly into interest expense, which is a non-operational fixed cost that must be covered regardless of how many beds are filled that month. The net leverage ratio stood at 2.1x at that time.

Here's a quick look at some of the key financial markers shaping the cost side of the Civeo Corporation canvas as of late 2025:

Cost/Financial Metric	Amount/Range	Period/Context
Full Year 2025 Capital Expenditure Guidance	$20 million to $25 million	FY 2025 Guidance
Net Debt	$176 million	As of September 30, 2025 (Q3 2025)
Restructuring Charge Recorded	$1.0 million	Q1 2025
Gross Margin	25.3%	Q2 2025
Canadian Headcount Reduction	25%	Implemented in Q1 2025

The variable cost component is further illustrated by the operational focus in Canada, where management noted driving year-over-year gross margin expansion despite lower lodge occupancy, which points directly to successful cost-cutting efforts impacting labor and operational overhead.

• High fixed costs tied to maintaining 28 owned lodges and villages in Australia and North America.
• Variable costs for food and labor are directly managed through occupancy rates.
• Restructuring charges like the $1.0 million in Q1 2025 aim to reduce the ongoing operating cost base.
• Interest expense is a fixed obligation against the $176 million net debt position as of Q3 2025.
• Maintenance CapEx guidance for the year is set between $20 million and $25 million.

Finance: draft 13-week cash view by Friday.

Civeo Corporation (CVEO) - Canvas Business Model: Revenue Streams

You're looking at how Civeo Corporation actually brings in the money, which is key for any valuation work you're doing. The revenue streams are heavily weighted toward their Australian operations as of late 2025, driven by long-term service agreements.

The primary sources of revenue for Civeo Corporation are split between the core lodging component-the billed rooms in their owned and operated villages-and the higher-margin, bundled integrated services revenue, which covers things like catering, facility management, utilities, and cleaning services. The company's performance in the third quarter of 2025 gives us a clear, recent look at the current split between their two main geographic segments.

Here's the quick math on the revenue breakdown from the third quarter of 2025:

Revenue Component	Q3 2025 Revenue (USD)	Notes
Total Consolidated Revenue	$170.5 million	Reported for the quarter ending September 30, 2025.
Australian Segment Revenue	$124.5 million	Represents the majority of current revenue, up 7% year-over-year.
Canadian Segment Revenue	$46.0 million	Reflects ongoing cost transformation despite top-line pressure.

The company has provided its outlook for the full fiscal year 2025, which you need to factor into any forward-looking models. Civeo Corporation is tightening its previously provided guidance range for the full year 2025 to $640 million to $655 million in revenue. This guidance range was updated following the third quarter results. Honestly, the stability of the Australian contracts is what underpins this forecast.

The most significant element bolstering the future revenue profile is the heavy reliance on long-term, take-or-pay contracts, especially within the Australian natural resource sector. These agreements provide revenue visibility that is definitely attractive in this industry.

You can see the impact of these long-term commitments in the following key contract awards:

• A six-year integrated services contract extension in Western Australia, effective January 1, 2025, anticipated to generate approximately A$1.4 billion in revenues over the 2025-2030 contract period.
• A four-year contract renewal in the Australian Bowen Basin, expected to generate approximately A$250 million in total revenues from 2025 to 2029.
• A three-year integrated services contract in the Bowen Basin, announced in Q2 2025, with expected revenues of A$64 million.

The focus on growing the services component is strategic, as evidenced by Civeo Corporation's internal target. They are targeting AUD 500 million in integrated services revenue by 2027. This shift helps de-risk the revenue base from pure occupancy fluctuations in their lodging business.

For the third quarter of 2025, the Australian segment's Adjusted EBITDA grew by 19% to $26.7 million, partly due to the integration of four recently acquired villages, which contributed $8.4 million in revenue during that quarter alone. This shows how acquisitions tied to long-term contracts immediately flow into the revenue stream.

Finance: draft 13-week cash view by Friday.