2.9 billion dirhams dividends "ADNOC for drilling" For 2024, an increase of 10%

Abu Dhabi, March 18/ WAM/ ADNOC Drilling Company announced the approval of the shareholders on all agenda items at the annual General Assembly meeting, including the distribution of the final payment of its cash profits for the fiscal year ending December 31, 2024.
The company’s shareholders adopted final cash dividends for 2024 amounting to 1.45 billion dirhams “about 9.05 fils per share”, raising the total profit distributions of 2024 to 2.90 billion dirhams “about 18.1 fils per share”, an increase of 10% on an annual basis compared to 2023.

The profits will be paid on April 11, 2025 or within days before or after this date for all registered shareholders from March 27, 2025.
The revenues of ADNOC Drilling for the fiscal year 2024 increased significantly to 14.82 billion dirhams, an increase of 32% on an annual basis, and the profits before benefits, taxes, consumption and firefighting reached an unprecedented level as it reached 7.40 billion dirhams, an increase of 36% on an annual basis, and the company doubled the net profit for more than weakness since its insertion in the Abu Dhabi Stock Exchange to reach 4.77 billion dirhams in 2024.
The company will benefit from its strong budget in enhancing its commitment to smart growth, investing available opportunities and increasing value for shareholders in the long run.
Abdel Rahman Abdullah Al -Saeari, CEO of ADNOC Drilling Company, said that the standard financial performance of the company and rewarding profit distributions reflects the strong momentum of ADNOC Drilling as the fastest growth power services company in the world, explaining that with increased profit distributions by 10% to reach 2.90 billion dirhams in 2024, and the company’s commitment to increasing distributions by no less than 10% in 2025 and years Next, the company continues to achieve an exceptional value for its shareholders while working to implement the future company strategies.
He added: “With our ambitious plans for the targeted expansions in the region, and our excavations enhanced by artificial intelligence technologies and our advanced services in the field of oil fields, we confirm that the company is in the right track to achieve greater successes. Also In its field, it raises efficiency and enhances our commitment to sustainability standards and guarantees long -term escalating returns for our shareholders. “
Looking at the future, profit distributions for the year 2025 are expected to rise to at least 3.18 billion dirhams, to reach approximately 4.22 billion dirhams in 2028, based on the increase of at least 10% on an annual basis in line with the company’s up -to -profit distribution policy.

Note that the profit distributions policy granted the company’s board of directors the authority to distribute additional profits above the minimum according to its own discretion, which confirms the commitment of ADNOC to enhance growth and the value of returns to its shareholders.
The company will continue to support its growth strategies by expanding the fleet, the growth of expected revenues and strong returns, including the return on the average worker “Roace”, which in 2024 exceeded 20%, and the return on property rights “ROE”, which exceeded 30%.

In addition, ADNOC Drilling expects large free cash flows of up to 5.88 billion dirhams in 2025, and the growth of net income with the percentage of distributions compared to net profit less than 65% at the minimum profit distribution in 2025. This strategic approach will enable the company to achieve great financial and operational successes in the coming years.
ADNOC drives intends to continue to enhance its operational capabilities in 2025, as it plans to expand its fleet to more than 148 excavations by 2026 and 151 by 2028, adding more excavations equipped with advanced artificial intelligence technologies in the company’s operations, which improves operational efficiency and supports the oil field services sector and provides greater value to customers.

In addition, the company plans for more expansions in the regional market during the year 2025, supported by extending its contract in Jordan and obtaining pre -qualification in Kuwait and Oman.
ENERSOL “ENERSOL” “ENERSOL” “ADNOC Project for Joint Drilling with Alpha Dhabi”, has announced the completion of acquisitions of 2.93 billion dirhams to purchase majority stakes in four companies that provide technology -backed oil -backed oil -backed services services.

“Turnweell”, the ADNOC Joint Drilling Project with the SLB and Patterson-UTI, succeeded in delivering 30 wells so far within the unconventional energy program to continue to enhance efficiency through the value chain and employ its technical capabilities and extensive experiences to enable the launch of unconventional energy sources in Abu Dhabi to meet global demand Energy.
After the 20024 standard financial results, ADNOC Drilling Company announced its directives for the fiscal year 2025 and the average term, stressing growth in all its sectors, where the company expects to achieve total revenues ranging from 4.6 to $ 4.8 billion for the year 2025, and profits before benefits, taxes, consumption and firefighting range from 2.15 to $ 2.3 billion, with a margin ranging between 46% and 48%, as It is expected that the net profit ranges between 1.35 to $ 1.45 billion, with a margin ranging from 28% and 30%.
ADNOC Drilling also expects capital spending between 0.35 to 0.55 billion dollars, and a free cash flow “except for integration and acquisitions” between 1.3 to $ 1.6 billion, and that the minimum profit distribution is at $ 0.87 billion, while maintaining a conservative goal for long -term financial reinforcement amounting to 2.0 times the net debt/profit before benefits, taxes, consumption and extinguishing.
In the medium term, the company aims to raise the revenues of the fiscal year 2026 to reach about 5 billion dollars, in addition to maintaining the traditional profit margin before interest, taxes, consumption and extinguishing at 50% with the traditional drilling margin of 50%, and to maintain the margin of oil fields services within a scope of 22% – 26% in the medium term, and that the percentage of the net money working from the targeted revenues be approximately 12%.

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