Ades Holding Co. announces its Interim Financial results for the Period Ending on 2025-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,653,934 | 1,572,596 | 5.172 | 1,578,826 | 4.757 |
| Gross Profit (Loss) | 605,416 | 615,547 | -1.645 | 592,833 | 2.122 |
| Operational Profit (Loss) | 498,235 | 512,974 | -2.873 | 487,492 | 2.203 |
| Net profit (Loss) | 219,145 | 203,285 | 7.801 | 191,682 | 14.327 |
| Total Comprehensive Income | 198,914 | 121,409 | 63.837 | 169,378 | 17.437 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 4,702,898 | 4,629,953 | 1.575 |
| Gross Profit (Loss) | 1,788,433 | 1,792,257 | -0.213 |
| Operational Profit (Loss) | 1,461,332 | 1,479,169 | -1.205 |
| Net profit (Loss) | 607,506 | 606,259 | 0.205 |
| Total Comprehensive Income | 539,132 | 582,927 | -7.512 |
| Total Shareholders Equity (after Deducting Minority Equity) | 6,588,725 | 6,193,505 | 6.381 |
| Profit (Loss) per Share | 0.54 | 0.54 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue grew by 5.2% in Q3 2025 compared to Q3 2024, primarily driven by stronger contributions from the offshore segment in Egypt, India, Southeast Asia, and Nigeria. The increase mainly reflects the deployments of reallocated rigs from KSA, while growth in Southeast Asia was further supported by the integration of two premium rigs acquired from Vantage Drilling in Q4 2024. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit increased by 7.8% year-on-year, despite higher depreciation and interest expenses. The impact of these increases was primarily offset by a gain on equity instruments designated at fair value through profit, recognized during the quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue increased by 4.8%, driven by the deployment of two offshore rigs in Thailand and Nigeria, along with two onshore rigs in North Africa. In Kuwait, the growth also reflected the full-quarter contribution from five rigs that underwent contract preparations, including two newly built units, in addition to a sixth rig that commenced operations during Q3 2025. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profit increased by 14.3%, driven by higher operating profit of 2.2% in addition to the gain on equity instruments designated at fair value through profit or loss, recognized during the third quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | ADES recorded robust revenues of SAR 4.7 billion in 9M 2025 (73% generated from GCC countries), reflecting an increase of 1.6% y-o-y against the same period in 2024. This was supported 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. Revenue performance came despite lower onshore activity, particularly in Kuwait, coupled with lower utilization in Saudi Arabia. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit inched up 0.2% year-over-year to SAR 607.5 million in 9M 2025, with net profit margin dropping slightly to 12.9% from 13.1% in 9M 2024. 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. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | Unmodified conclusion |
| Reclassification of Comparison Items | N/A |
| Additional Information | * EPS is calculated based on the weighted average number of ordinary shares of 1,100,936 thousand shares in 9M 2025 compared to 1,096,402 thousand shares during 9M 2024.
**Operating profit is calculated as Gross profit less General and administrative expenses.
*** The net profit attributable to equity holders of the Parent equals SAR 597,331 thousand in 9M 2025, compared to 595,448 thousand in 9M 2024 |
| Attached Documents |  |
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