Ades Holding Reports SAR 236.44M Net Profit in Three Months 2026
ADES 2382.SA | 0.00 |
On 2026-05-11 08:00:19 (Saudi Time), Ades Holding Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,390,736 | 1,470,138 | 62.619 | 1,986,061 | 20.375 |
| Gross Profit (Loss) | 878,849 | 590,184 | 48.911 | 744,658 | 18.02 |
| Operational Profit (Loss) | 675,267 | 475,605 | 41.98 | 584,810 | 15.467 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 236,442 | 194,155 | 21.78 | 220,685 | 7.14 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 252,879 | 168,316 | 50.24 | 191,438 | 32.094 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 6,768,046 | 6,418,901 | 5.439 |
| Profit (Loss) per Share | 0.21 | 0.18 | |
| 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 | |||
Year-on-Year Performance Drivers
Sales increased 62.619% YoY to SAR 2.39 million, driven by operational excellence across core markets, contributions from the Shelf Drilling acquisition, and expanded international operations with 47.4% of revenues generated from GCC countries. Net profit attributable to shareholders rose 21.78% YoY to SAR 0.24 million, primarily due to the contribution from the Shelf Drilling acquisition.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 20.4% to SAR 2,390.74 million in Q1 2026 from SAR 1,986.06 million in Q4 2025, primarily driven by the full quarter contribution of the Shelf Drilling acquisition compared to only one month contribution in the previous quarter. Net profit rose 7.14% to SAR 236.44 million from SAR 220.69 million, also attributed to the complete quarterly impact of the Shelf Drilling acquisition versus partial contribution in Q4 2025.
Other Items
The external auditor issued an unmodified conclusion with no qualifications, emphasis of matter paragraphs, or adverse opinions noted. Total shareholders equity increased 5.439% year-over-year to SAR 6,768,046 thousand. Earnings per share improved to SAR 0.21 compared to SAR 0.18 in the same quarter of the previous year, calculated based on weighted average ordinary shares of 1,104,150 thousand shares. The company reported no profit or losses from changes in investment properties' fair value during the period.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95198&anCat=1&cs=2382&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/26594_4926_2026-05-10_22-12-25_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.