United Arab Emirates · Delayed Price · Currency is AED ADNOC Drilling Company P.J.S.C. Earnings Call Transcripts
Fiscal Year 2025
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2025 delivered record revenue, profit, and free cash flow, driven by operational excellence and regional expansion. 2026 guidance anticipates continued growth, robust margins, and strong dividends, with upside potential from oilfield services and new acquisitions.
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Acquisition of an 80% stake in MV Petroleum Services accelerates regional growth, adds 21 rigs, and is immediately accretive to earnings and cash flow. The deal strengthens market position in Oman and Kuwait, with long-term contracts and further expansion opportunities.
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Record Q3 results with revenue up 23% year-over-year and strong growth in oilfield services and unconventionals. Upgraded 2025 guidance, robust dividend policy, and continued regional expansion position the company for sustained growth and value creation.
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Record H1 2025 results with 30% revenue growth, 19% EBITDA growth, and 21% net income growth, driven by rig expansion and OFS. Upgraded 2025 guidance, strong cash flow, and regional expansion support future growth and higher dividends.
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A 70% stake in SLB's Oman and Kuwait land rig business is being acquired for up to $112 million, providing immediate earnings accretion and a strategic foothold in key GCC markets. The deal is expected to close by Q1 2026, with strong risk mitigation and long-term growth potential.
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Q1 2025 saw revenue up 32% year-on-year to $1.17 billion, with strong growth in oilfield services and continued expansion of the rig fleet. Guidance for 2025 is reaffirmed, with higher CapEx expected in H2 and dividends set to grow at least 10%.
Fiscal Year 2024
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Delivered record 2024 results with revenue up 32% and net profit up 26% year-on-year, driven by fleet expansion, strong OFS growth, and strategic acquisitions. 2025 guidance projects continued high growth, robust margins, and increased dividends, with further upside from regional and unconventional opportunities.
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Record Q3 2024 results with 32% revenue growth, 50% EBITDA margin, and 30% net profit increase year-on-year. Upgraded full-year guidance, accelerated unconventional growth, and regional expansion initiatives position the company for continued strong performance.
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Record H1 2024 results with 26% revenue and 28% net profit growth, driven by fleet expansion, strong segment performance, and new contracts in unconventionals. Guidance for 2024 and medium term was raised, and a progressive dividend policy was approved.