Drilling subsidiary ADNOC Drilling posted its H1 2025 report on Wednesday, showing robust financial figures as the business continues to grow in both emerging and established segments of the business, according to its official earnings release. The update comes with a dividend of $217 million approved by the board of directors. Two dividends have been announced this year, with a third one scheduled for later in 2025
“Our record first half 2025 results once again demonstrate the strength, resilience, and scalability of ADNOC Drilling. We continue to deliver outstanding financial performance, dependable shareholder returns and disciplined regional expansion, all underpinned by our commitment to deploying AI and advanced technologies,” said ADNOC Drilling CEO Abdulla Ateya Al Masabi.
ADNOC Drilling shows growth in profitability and cash flow
The drilling subsidiary posted double-digit growth figures across its key financial metrics, such as revenue, EBITDA, and net profit, for the first half. Revenues grew by 30% to $2.37 billion. Net profits were recorded at $1.08 billion, and EBITDA (Earnings before interest, tax, depreciation, and amortization) was $692 million.
Cash flow metrics were also positive, with cash from operations growing by 35% to $1.17 billion and free cash flow growing by 67% to $727 million.
ADNOC Drilling’s growth is in line with two of the firm’s major strategic goals for scaling the business, which are expanding the current rig fleet and increasing investment in unconventional forms of drilling, including targeting biogenic gas, usually found at more shallow depths, typically on the surface.
ADNOC Drilling has attributed growth to its unconventional business segment, which contributed $79 million to revenues, and the commencement of new rigs, which drove growth in the onshore segment.
Source: TradingView.com