ADES logs SAR 597.3M profit in 9M 2025, SAR 214.6M in Q3

ADES Holding Co. posted a net profit of SAR 597.3 million, excluding minority interest, in the first nine months of 2025, compared to SAR 595.5 million in the year-earlier period.

Net profit, before excluding minority interest, stood at SAR 607.5 million in the first nine months of 2025, compared to SAR 606.3 million before minority interest a year earlier.

The profit increase was driven by the ramp-up of offshore operations and progressive rig deployments in existing and new markets, with particularly strong performances in Southeast Asia and India, and new contributions from West Africa following the group’s entry into Nigeria during the period.

This is in addition to the gain on equity instruments designated at fair value through profit or loss, recognized during the third quarter.

Improved performance came despite lower onshore activity, particularly in Kuwait, coupled with lower utilization in Saudi Arabia.

Bottom-line stability comes despite the increased depreciation and interest expenses relative to revenue during the nine-month period, which was largely offset by a gain on equity instruments designated at fair value through profit booked in the third quarter.

In Q3 2025, net profit reached SAR 214.6 million, rising 7.5% from SAR 199.6 million in Q3 2024.

On a sequential basis, the bottom line grew 13.8% from SAR 188.6 million in Q2 2025.

Shareholders’ equity, after minority interest, reached SAR 6.58 billion as of Sept. 30, 2025, up from SAR 6.19 billion a year earlier.

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