Ades Holding Company · TADAWUL:2382
Ades — H1 2025 Earnings Presentation
24 slides from Ades's earnings presentation, Aug 1, 2025
Slide 1: ADES Holding Company: Geared to Grow
ADES Holding Company Geared to Grow Results Presentation 1H-2025
Slide 2: Today's Presenters and Agenda
Today’s Presenters Agenda 1. Market Update 2. Business Update 3. Financial Update Dr. Mohamed Farouk Hussein Badawy Group Chief Executive Officer Group Chief Financial Officer 4. Outlook Results Presentation 1H 2025
Slide 3: Leader in Shallow Water Offshore and Onshore Drilling
Leader in Shallow Water Offshore and Onshore Drilling 1. Market Update Global Scale Operations with 90 Rigs in 13 Countries 14 25 16 # of Rigs 2. Business Update 8 2 1 2 10 3 3 1 50 offshore 1 2 40 onshore 3. Financial Update 1 1 Proven Consolidator Leading Scale & Partner of Choice for Committed to
Slide 4: Market Update
Market Update
Slide 5: Continued Demand and Investment in Oil & Gas into 2050
Continued Demand and Investment in Oil & Gas into 2050 1. Market Update Projected Global Energy Mix Projected Global Oil Supply Requirements (mboe/d, %)* (mmboepd)** Investment Oil & Gas Coal Nuclear Hydro Bioenergy Other Renewables Required to 2050 Offset Decline Oil Supply 2024 2. Business Update
Slide 6: Sustained Tightness in the Offshore Jackup Market
Sustained Tightness in the Offshore Jackup Market 1. Market Update Utilization rates to remain tight hovering above the 90% mark 120% Standard and Premium Jackups Marketed Utilization Rates 2. Business Update 100% 80% 60% 3. Financial Update 86% 91% 40% Current marketed Current marketed 20% utilizat
Slide 7: Jackup Supply Analysis
Jackup Supply Analysis 1. Market Update Tight supply-demand dynamics …with the average age of attrition / scrapping at 35 set to continue … years across the global jackup fleet Approximately 169 rigs have been 60 Marketed Supply scrapped/converted between Apr 2. Business Update 2024 to Apr 2025 Unde
Slide 8: Business Update
© Business Update
Slide 9: Sustaining World-Class Safety and Operational Excellence
Sustaining World-Class Safety and 1. Market Update Operational Excellence ADES recorded a backlog of SAR 29.72 billion in 1H 2025, with additions totalling SAR SAR, % YoY 1H 2025 Comparative 4.5 billion during the period – 2. Business Update representing the highest Utilization Rate1 98.6% 98.0% in
Slide 10: Recent Awards & Extensions in 1H 2025
Recent Awards & Extensions in 1H 2025 – Our Global Platform 1. Market Update Awards Extensions 2. Business Update 1 Rig 2 Rigs 1 Rig 2 Rigs 1 Rig 3 Rigs Awarded New Contract in Awarded New Contracts in Awarded a New Contract in Extensions for Jackups in Extension for a Jackup in Extension for Jackup
Slide 11: Maintaining Resilient Revenues and Delivering Strong EBITDA Performance
Maintaining Resilient Revenues and 1. Market Update Delivering Strong EBITDA ADES is poised to continue Performance accelerating activity as mobilizations and contract SARmn, % YoY 1H 2025 1H 2024 Change preparations wrap up. 2. Business Update Revenue 3,048.9 3,057.4 - 0.3% EBITDA 1,674.5 1,506.5 +
Slide 12: Achieving the Highest Ever Backlog of SAR 29.72 Billion
Achieving the Highest Ever Backlog in the Group’s History of 1. Market Update SAR 29.72 Billion in 1H 2025 ADES has secured new awards totaling SAR 4.5 billion in additional backlog – representing the highest rate of additions during a six-month period, including SAR 4.35 billion in 2Q 2025, the hig
Slide 13: Committed to Operational Excellence & Sustainability
Committed to Operational Excellence & Sustainability 1. Market Update Best-in-Class Safety Record Supported by The REI Drives Levels of Activity and Renewals Continued Innovation with Aramco Local FTP4 IADC2 Content3 10% 45% 2. Business Update Average 0.43 REI Rig Efficiency Index 10% (“REI”) Compos
Slide 14: 1H 2025 Financial Update
1H 2025 Financial Update
Slide 15: Record Backlog Performance with SAR 4.35 Billion Net Additions in 2Q-2025
Record Backlog Performance with SAR 4.35 Billion Net Additions 1. Market Update in 2Q-2025, the Highest Ever in a Single Quarter Backlog (SAR bn) Contract Awards and Renewals in 2Q 2025 5.1% Signing of two 10-year contract renewals for offshore rigs with Saudi Aramco in April and KSA 2. Business Upd
Slide 16: Building Operational Momentum Across Existing and New Geographies
Building Operational Momentum Across Existing 1. Market Update and New Geographies KSA -16.3% 74% of 8% Kuwait 2,170 1H 2024 1H 2025 revenue generated 1,817 2. Business Update 6% Qatar Revenue by from GCC 60% Southeast Asia countries Country 9% 1H 2025 Egypt 30.9% 4032.0% 19.2% 14.9% 21.0% 16.2% Ind
Slide 17: Robust Profitability Reflecting Strong Offshore Growth and Lean Cost Structure
Robust Profitability Reflecting Strong Offshore Growth and Lean 1. Market Update Cost Structure Consolidated Revenue by Segment (SAR mn) EBITDA (SAR mn) 0.3% 49.4% 54.4% 49.3% 54.9% 2. Business Update 11.2 3,057 3,049 13.9 % 3.5% % 23% 19% 1,675 1,507 1,525 1,579 24% 20% 77% 81% 858 754 76% 80% 3. F
Slide 18: Strong Operational Discipline Anchors Profitability Despite Slight Decline
Strong Operational Discipline Anchors Profitability Despite 1. Market Update Slight Decline Net Profit (SAR mn) Group Equity (SAR mn) 13.3% 12.1% 13.2% 12.7% 2. Business Update 1.5% 3.6% 403 6,538 6,636 388 5.2% 202 192 3. Financial Update 2Q 2024 2Q 2025 1H 2024 1H 2025 Net Profit margin FY 2024 1H
Slide 19: Strong Cash Flow Conversion
Strong Cash Flow Conversion 1. Market Update Capex (SAR mn) 1 Free Cash Flow (SAR mn) 2 89% 83% 34.4% 3.5% 2. Business Update 1,475 168 967 1,339 1,387 288 1,307 679 3. Financial Update 1H 2024 1H 2025 1H 2024 % Cash Conversion3 1H 2025 Recurring Maintenance Total capital expenditure in 1H 2025 re
Slide 20: Net Debt Evolution
Net Debt Evolution 1. Market Update 1H 2025 Net Debt Bridge1 (SAR mn) 2. Business Update 3. Financial Update 4. Outlook • The balance of cash and cash equivalents as of 30 June 2025 amounted to SAR 797.0 million. 1Net debt equals Interest-bearing loans and borrowings, less cash excluding lease liabi
Slide 21: Outlook
Outlook
Slide 22: Interim Dividend and Guidance for 2025
Interim Dividend and Guidance for 2025 1. Market Update 2. Business Update The Board of Directors has decided to distribute a cash dividends equivalent to c.60% of the Group’s 1H-2025 net profit attributable to equity holders, amounting to SAR 231.2 million. SAR 231.2mn 3. Financial Update Recommend
Slide 23: Q&A
Q&A
Slide 24: Important Notice
Important Notice 1. Market Update This document and information contained herein (the “Information”) has been prepared by ADES Holding Company (the “Company”) for background purposes only and does not purport to be a full, accurate, complete or comprehensive analysis of the Company’s business, finan