Financial Results : Arabian Drilling Q1 2025 net profit slumps 49% to SAR 75M

Arabian Drilling Q1 2025 net profit slumps 49% to SAR 75M

13/05/2025 Argaam Exclusive

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Arabian Drilling Co. reported a net profit of SAR 75 million in Q1 2025, a decline of 49% compared to SAR 146 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 966.67 911.08 (5.7 %)
Gross Income 268.73 179.99 (33.0 %)
Operating Income 211.25 137.00 (35.1 %)
Net Income 146.26 75.20 (48.6 %)
Average Shares 89.00 89.00 -
Earnings Per Share before unusual items (Riyal) 1.64 0.67 (59.2 %)
EPS (Riyal) 1.64 0.84 (48.6 %)

The company cited lower revenues on rig suspensions in 2024. This was mitigated by the deployment and operation of 11 out of the 13 newly acquired unconventional land drilling rigs.

 

The company also noted a non-recurring income arising from selling a land plot and insurance recoveries.

 

On a sequential basis, net profit grew 7.1% from SAR 70 million in Q4 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 6.01 billion as of March 31, 2025, compared to SAR 6.10 billion a year earlier.

 

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