ADES Holding Company Income Statement

Financials in millions SAR. Fiscal year is January - December.

Millions SAR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	6,689	6,199	4,332	2,467	1,514
Revenue Growth (YoY)	7.90%	43.10%	75.58%	62.94%	-10.69%
Cost of Revenue	4,156	3,841	2,621	1,602	992.23
Gross Profit	2,533	2,358	1,711	865.18	521.98
Selling, General & Admin	540.39	475.84	412.77	263.71	175.11
Other Operating Expenses	0.87	30.45	41.74	30.08	33.02
Operating Expenses	581.64	616.94	454.51	530.36	424.12
Operating Income	1,951	1,741	1,257	334.82	97.86
Interest Expense	-927.25	-780.45	-711.12	-276.41	-186.2
Interest & Investment Income	-	-	-	19.19	0.21
Other Non Operating Income (Expenses)	-10.03	9.23	-16.12	-23.1	-1.96
EBT Excluding Unusual Items	1,014	969.49	529.38	54.5	-90.09
Merger & Restructuring Charges	-79.23	-6.14	-	-8.42	-12.2
Gain (Loss) on Sale of Investments	88.78	-	-	-	-8.48
Asset Writedown	-	-	-	-	-113.83
Other Unusual Items	21.21	7.5	-	422.27	373.66
Pretax Income	1,045	970.85	529.38	468.34	149.06
Income Tax Expense	212.07	154.65	77.3	70.72	34.63
Earnings From Continuing Operations	832.86	816.2	452.08	397.62	114.43
Minority Interest in Earnings	-14.85	-13.7	-9.98	-7.17	-6.62
Net Income	818.02	802.5	442.1	390.45	107.81
Net Income to Common	818.02	802.5	442.1	390.45	107.81
Net Income Growth	1.93%	81.52%	13.23%	262.16%	46.52%
Shares Outstanding (Basic)	1,101	1,097	753	-	-
Shares Outstanding (Diluted)	1,101	1,097	753	-	-
Shares Change (YoY)	0.38%	45.67%	-	-	-
EPS (Basic)	0.74	0.73	0.59	-	-
EPS (Diluted)	0.74	0.73	0.59	-	-
EPS Growth	1.55%	24.61%	-	-	-
Free Cash Flow	1,143	620.8	-1,766	-2,777	-38.21
Free Cash Flow Per Share	1.04	0.57	-2.34	-	-
Dividend Per Share	0.450	0.436	-	-	-
Dividend Growth	3.21%	-	-	-	-
Gross Margin	37.87%	38.03%	39.50%	35.07%	34.47%
Operating Margin	29.17%	28.08%	29.01%	13.57%	6.46%
Profit Margin	12.23%	12.95%	10.21%	15.83%	7.12%
Free Cash Flow Margin	17.09%	10.02%	-40.76%	-112.56%	-2.52%
EBITDA	3,277	2,827	1,922	704.43	357.45
EBITDA Margin	48.99%	45.60%	44.38%	28.55%	23.61%
D&A For EBITDA	1,325	1,086	665.68	369.61	259.59
EBIT	1,951	1,741	1,257	334.82	97.86
EBIT Margin	29.17%	28.08%	29.01%	13.57%	6.46%
Effective Tax Rate	20.29%	15.93%	14.60%	15.10%	23.23%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.