4.51 billion dirhams in revenues "ADNOC Drilling" During the first quarter, an increase of 5%

Abu Dhabi, May 11 / WAM / ADNOC Drilling Company announced today its financial results for the first quarter, ending on March 31, 2026, as it continued the strong performance it achieved in 2025, and recorded during the first quarter of 2026 the best performance during the first quarter in its history in terms of revenues and net income.

This exceptional performance was achieved thanks to high rates of fleet activity, disciplined execution, continued growth in integrated services, long-term contract coverage, and technology-enabled execution across various fleet segments.

Revenues reached 4.51 billion dirhams, an increase of 5% year-on-year, while net profit reached 1.27 billion dirhams, an increase of 2% year-on-year. Free cash flow reached 1.31 billion dirhams, an increase of 12% year-on-year, while the return on equity reached 33%, and dividends reached $262.5 million.

The company’s performance during the first quarter of 2026 reflects the flexibility of its business model, which is based on a strong portfolio of long-term contracts, high fleet operating rates, and a disciplined approach to cost management, as it maintained the continuity of its operations, the stability of its activity levels, and the strength of cash generation, across all its sectors, thanks to continued operational excellence, which confirms the company’s ability to achieve stable and flexible profit rates despite market fluctuations.

It is noteworthy that ADNOC Drilling’s financial and operational operations were not materially affected during the first quarter of 2026, which reflects the strength of business continuity plans, with a focus on the safety of personnel and operational assets as a top priority.

Abdullah Attiya Al Musabi, CEO of ADNOC Drilling, said that the company’s strong and flexible start to 2026 is an extension of the strongest performance it has achieved in its history during the year 2025, pointing out that its performance during the first quarter confirms the strength of its business model as a provider of drilling and energy services, which is based on a long-term contract portfolio, high operating levels, and distinguished and consistent operational implementation.

He added that the company’s cadres constitute the basic foundation of this performance, through their commitment to the highest safety standards and enhancing the reliability of operations. In addition, the expansion of the use of technology contributes to raising efficiency and achieving value, stressing that the company, as it progresses through 2026, will continue to focus on thoughtful investments, enhancing cash generation, and achieving long-term sustainable returns for its shareholders, in a way that supports ADNOC’s goals to increase production.

The Board of Directors recommended dividends for the first quarter of 2026 in the amount of $262.5 million (equivalent to about 6 fils per share), which is expected to be distributed at the beginning of June to shareholders registered as of May 18, 2026. The company confirms that the strong generation of free cash flow, the broad coverage of long-term contracts, and the strength of the balance sheet provide strong support for the minimum annual dividend for the year 2026, amounting to 1.05 billion. Dollar.

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