Ades Holding Reports SAR 364.97M Net Profit in the Six Months 2026
ADES 2382.SA | 0.00 |
On 2026-08-10 08:55:13 (Saudi Time), Ades Holding Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,153,329 | 1,578,826 | 36.387 | 2,390,736 | -9.93 |
| Gross Profit (Loss) | 727,900 | 592,833 | 22.783 | 878,849 | -17.175 |
| Operational Profit (Loss) | 534,059 | 487,492 | 9.552 | 675,267 | -20.911 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 128,531 | 188,603 | -31.851 | 236,442 | -45.639 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 141,248 | 166,299 | -15.063 | 252,879 | -44.144 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 4,544,065 | 3,048,964 | 49.036 |
| Gross Profit (Loss) | 1,606,749 | 1,183,017 | 35.817 |
| Operational Profit (Loss) | 1,209,326 | 963,097 | 25.566 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 364,973 | 382,758 | -4.646 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 394,127 | 334,615 | 17.785 |
| Total Shareholders Equity (after Deducting Minority Equity) | 6,909,294 | 6,585,200 | 4.921 |
| Profit (Loss) per Share | 0.33 | 0.35 | |
| 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 | - | - | |
| Accumulated Losses | - | ||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, ADES Holding's sales/revenue rose 49.036% YoY to SAR 4,544.07 million (from SAR 3,048.96 million), driven by the Group's operational excellence across its core markets, contributions from the acquisition of Shelf Drilling, and expanded international operations, despite the ongoing regional conflict and consequent temporary rig suspensions. Net profit attributable to shareholders, however, declined 4.646% YoY to SAR 364.97 million (from SAR 382.76 million), primarily due to the impact of temporary offshore rig suspensions resulting from the regional conflict and non-recurring insurance expenses.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 9.9% to SAR 2,153.33 million (from SAR 2,390.74 million in Q1 2026), primarily due to temporary offshore rig suspensions resulting from the regional conflict. Net profit attributable to shareholders fell sharply by 45.639% QoQ to SAR 128.53 million (from SAR 236.44 million), driven by the same temporary rig suspension impact compounded by incremental non-recurring insurance expenses. The gross margin also compressed significantly, with gross profit dropping 17.175% QoQ to SAR 727.90 million, reflecting the reduced revenue base and associated cost pressures.
Other Items
Ades Holding Co.'s external auditor issued an unmodified conclusion for the interim period ending 30 June 2026, with no additional comments noted in any other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. No accumulated losses or fair value changes in investment properties were reported. Total shareholders' equity (after deducting minority equity) stood at SAR 6,909,294 thousand as of 30 June 2026, up 4.921% from SAR 6,585,200 thousand in the same period of the prior year. Total comprehensive income attributable to shareholders for the six-month period reached SAR 394,127 thousand, an increase of 17.785% compared to SAR 334,615 thousand in 1H 2025. Earnings per share were SAR 0.33 in 1H 2026 versus SAR 0.35 in 1H 2025, calculated based on a weighted average of 1,104,150 thousand ordinary shares in H1 2026 compared to 1,100,936 thousand shares in H1 2025. The net profit for the period (including minority interest) equaled SAR 374,121 thousand in H1 2026 compared to SAR 388,361 thousand in H1 2025, and SAR 133,268 thousand in Q2 2026 compared to SAR 191,682 thousand in Q2 2025.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97454&anCat=1&cs=2382&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/26594_4926_2026-08-09_23-33-29_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.