Adnoc Drilling Company Pjsc · ADX:ADNOCDRILL
Adnoc Drilling Company Pjsc — Q2 2025 Earnings Presentation
23 slides from Adnoc Drilling Company Pjsc's earnings presentation, Jul 30, 2025
Slide 1: Second Quarter 2025 Results Presentation
SECOND QUARTER 2025 RESULTS PRESENTATION July 30, 2025 1
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by ADNOC Drilling Company PJSC (the “Company”) based on publicly available information and non-public information to assist you in making a preliminary analysis of the content referenced herein solely for informational purposes. It should not be constru
Slide 3: Strong Financial and Operational Delivery
STRONG FINANCIAL AND OPERATIONAL DELIVERY GROWTH ACROSS KEY FINANCIAL AND OPERATIONAL METRICS, ON TRACK TO DELIVER ON TARGETS 1H 2025 - Highlights Milestones Top-line growth +30% YoY Highlights 1491 rigs Oman/Kuwait Revenue to $2.37bn +91 rigs YoY partnership with SLB Industry leading $1.08bn Highli
Slide 4: Sustaining Growth with New Venues
SUSTAINING GROWTH WITH NEW VENUES DE-RISKED, VALUE ACCRETIVE REGIONAL EXPANSION AT ATTRACTIVE VALUATIONS Enersol Unconventional Resources Regional Expansion • Acquired four companies, cumulative total • At quarter end, 58 wells of the 144 wells • ADNOC Drilling will acquire 70%2 stake in investment
Slide 5: Expanding Operations – Middle East's Largest Fleet
EXPANDING OPERATIONS – MIDDLE EAST’S LARGEST FLEET KEY OPERATIONAL HIGHLIGHTS Owned Rigs Drilling Average Durations (Days) Commentary Onshore Offshore Onshore Offshore › Fleet count at 1492 rigs. Rig availability 1492 92 1401 142 92 at 96% in 2Q25. 86 47 45 47 › The two jack-up rigs that entered the
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS ADNOC DRILLING
Slide 7: Financial Highlights
FINANCIAL HIGHLIGHTS 2Q 2025 DELIVERED GROWTH IN EVERY FINANCIAL METRIC, MAINTAINING SOLID BALANCE SHEET Revenue ($ Million) EBITDA ($ Million) Net Income ($ Million) % growth % growth % growth 3% 2% 19% 351 351 2% 341 1,197 1,170 1,197 15% 28% 545 533 545 295 935 472 2Q24 2Q25 1Q25 2Q25 2Q24 2Q25 1
Slide 8: Segmental Revenue
SEGMENTAL REVENUE SEQUENTIAL GROWTH ACROSS ALL SEGMENTS Onshore ($ Million) Offshore ($ Million) Oilfield Services ($ Million) % growth % growth % growth 337 0% 337 334 1% 337 121% 347 342 1% 347 16% 513 494 4% 513 441 157 2Q24 2Q25 1Q25 2Q25 2Q24 2Q25 1Q25 2Q25 2Q24 2Q25 1Q25 2Q25 › Second quarter
Slide 9: EBITDA Generation
EBITDA GENERATION INDUSTRY-LEADING MARGINS Onshore ($ Million) Offshore ($ Million) Oilfield Services ($ Million) % growth % growth % growth 4% 23% 260 6% 260 -1% 2% 246 41% 52 51 52 224 233 236 233 211 37 2Q24 2Q25 1Q25 2Q25 2Q24 2Q25 1Q25 2Q25 2Q24 2Q25 1Q25 2Q25 › Second quarter EBITDA increased
Slide 10: Quarterly Dividend Distributions
QUARTERLY DIVIDEND DISTRIBUTIONS RESILIENT BUSINESS MODEL PROVIDES UNPARALLELED VISIBILITY FOR DISTRIBUTIONS SECOND QUARTER 2025 DIVIDEND The Board of Directors approves the $217 million (~5 fils per share) second quarterly dividend for 2025, which reaffirms the commitment to delivering reliable, gr
Slide 11: Strong First Half 2025 Leads to Positive Guidance Update
STRONG FIRST HALF 2025 LEADS TO POSITIVE GUIDANCE UPDATE DESPITE MARKET DYNAMICS AND DRIVEN BY INCREASED VISIBILITY, FY 2025 GUIDANCE POSITIVELY UPDATED FY 2025 Previous FY 2025 New (USD, Billion) Medium-Term Guidance Guidance Guidance Revenue 4.60 – 4.80 4.65 - 4.80 • FY 2026 revenue expected at ~$
Slide 12: Closing Remarks
CLOSING REMARKS ADNOC DRILLING
Slide 13: Closing Remarks
CLOSING REMARKS Record 1H 2025 results, Second quarter 2025 Growth continues with new Delivering on our ESG leading to positive guidance dividend approved and to contract additions, regional agenda by pursuing update be paid in August 2025 expansion, and JVs ambitious goals Gearing Up for Future Gro
Slide 14: Appendix
ADNOC Drilling Brg APPENDIX ADNOC DRILLING
Slide 15: Unique Business Model Provides Visibility & Growth
UNIQUE BUSINESS MODEL PROVIDES VISIBILITY & GROWTH ADNOC Drilling’s inherently resilient business model positions it uniquely to navigate an uncertain environment High-quality Stellar track record Industry-leading earnings profile of growth margins Revenue underpinned by long-term Net income more th
Slide 16: Strategic Regional Expansion in Oman & Kuwait
STRATEGIC REGIONAL EXPANSION IN OMAN & KUWAIT ADNOC DRILLING PARTNERS WITH SLB IN THEIR KUWAIT AND OMAN LAND RIG BUSINESS 1 Transaction Overview 2 Strategic Rationale ▪ Attractive valuation at < 4x EV/EBITDA; with robust financial profile ▪ On May 29, ADNOC Drilling signed an agreement to acquire a
Slide 17: We Continue to Pursue Ambitious ESG Goals
WE CONTINUE TO PURSUE AMBITIOUS ESG GOALS ESG FRAMEWORK & PERFORMANCE HIGHLIGHTS Climate, Emissions and Energy Economic and Social Contribution Health, Safety and Security • GHG emission reduction abatement at 3.3 • Economic performance improved with the • TRIR at 0.54 for 1H 2025 KtCO2e for 1H 2025
Slide 18: Strong Cashflow & Balance Sheet
STRONG CASHFLOW & BALANCE SHEET HEALTHY CASH POSITION WITH AMPLE LIQUIDITY TO POWER RIG FLEET GROWTH Net Cash from Operating Activities ($ Million) Commentary Cash from Operating Activities 61 18 649 61 (9) › Cash from operating activities stood at $649 million in 518 2Q25 › Net profit increased 19%
Slide 19: CapEx & Working Capital
CAPEX & WORKING CAPITAL CapEx1 ($ Million) Commentary % revenue CapEx › 2Q25 CapEx including prepayments and accruals 25% 5% 13% amounted to $157 million › ADNOC Drilling expects CapEx to be in a range between $0.35 - $0.55 billion for 2025, and this only includes 234 maintenance CapEx and new islan
Slide 20: Ample Financial Headroom
AMPLE FINANCIAL HEADROOM FLEXIBILITY FOR GROWTH AND CAPITAL ALLOCATION GUIDANCE Financial Headroom ($ Billion), indicative figures for illustrative purposes only ~ 4.5 ~ 2.5 ~ 2.2 ~ (2.0) ~ 0.5 1 FY25 EBITDA Guidance Midpoint Net Debt Potential 2Q25 Net Debt Financial Leverage Headroom Expected Inor
Slide 21: Financial Summary
FINANCIAL SUMMARY (USD, Million) 2Q25 2Q24 YoY 1Q25 QoQ Revenue 1,197 935 28% 1,170 2% Opex1 (663) (464) 43% (640) 4% Share of profit of joint ventures2 11 1 1000% 3 267% EBITDA3 545 472 15% 533 2% Depreciation and amortization (133) (115) 16% (130) 2% Finance cost-net (27) (33) -18% (29) -7% Taxes
Slide 22: Segmental Results P&L Summary
SEGMENTAL RESULTS P&L SUMMARY (USD, Million) 2Q25 2Q24 YoY 1Q25 QoQ Revenue 1,197 935 28% 1,170 2% Onshore 513 441 16% 494 4% Offshore 337 337 0% 334 1% Oilfield Services (OFS) 347 157 121% 342 1% Total OPEX1 (663) (464) 43% (640) 4% Onshore (256) (230) 11% (248) 3% Offshore (104) (113) -8% (98) 6%
Slide 23: Thank You
www.adnocdrilling.ae ir@adnocdrilling.ae THANK YOU ADNOC DRILLING
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