Financial Results : ADES H1 2025 net profit plummets to SAR 382.8M; Q2 at SAR 188.6M

ADES H1 2025 net profit plummets to SAR 382.8M; Q2 at SAR 188.6M

04/08/2025 Argaam Exclusive

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ADES Holding Co. reported a net profit of SAR 382.8 million in H1 2025, compared to SAR 395.8 million in the prior-year period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 3,057.36 3,048.96 (0.3 %)
Gross Income 1,176.71 1,183.02 0.5 %
Operating Income 937.86 934.18 (0.4 %)
Net Income 395.83 382.76 (3.3 %)
Average Shares 1,129.06 1,129.06 -
Earnings Per Share before unusual items (Riyals) 0.42 0.34 (18.4 %)
EPS (Riyal) 0.35 0.34 (3.3 %)

ADES recorded revenues of SAR 3 billion in H1 2025 (74% generated from GCC countries), down 0.3% year-on-year (YoY), driven by the decreased utilization across the group’s onshore segment, primarily in Kuwait. Revenues were further dampened by onshore rig mobilizations from Egypt to Algeria and lower utilization in Saudi Arabia, in addition to offshore rig mobilizations to Thailand, Indonesia, and Nigeria.

 

The decline was partially offset by increased offshore contributions from Egypt, Qatar, India and Southeast Asia.

 

The company noted enhanced EBITDA performance, while reflecting the higher ratio of depreciation and interest to revenue.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 1,525.29 1,578.83 3.5 %
Gross Income 574.02 592.83 3.3 %
Operating Income 457.37 470.24 2.8 %
Net Income 198.47 188.60 (5.0 %)
Average Shares 1,129.06 1,129.06 -
Earnings Per Share before unusual items (Riyal) 0.20 0.17 (18.4 %)
EPS (Riyal) 0.18 0.17 (5.0 %)

Q2 2025 net profit declined 5% to SAR 188.6 million, compared to SAR 198.5 million in Q2 2024.

 

On a sequential basis, net profit slumped 2.9% from SAR 194.1 million in Q1 2025.

 

Shareholders’ equity, after minority interest, reached SAR 6.58 billion by June 30, 2025, compared to SAR 6.27 billion in a year earlier period.

 

Attached Documents

 

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