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ADES ADES Holding أديس القابضة ADES Holding Reports Strong 1H 2026 Results with Revenue Up 49 % Year - over - Year Despite Ongoing Conditions ; Growth Driven by the Shelf Acquisition and Robust Offshore Performance ; the Group Declares 1H - 2026 Dividend and Reiterates its Full - Year Guidance - Al - Khobar , KSA 10 August 2026 : ADES Holding Company ( " ADES " , the " Group " or the " Company " ) , a world- leading oil and gas drilling services provider , is pleased to announce its financial results for the six - month period ended 30 June 2026 , delivering strong growth across revenue and EBITDA , supported by the contribution from the Shelf Drilling acquisition and robust performance across the Group's global offshore platform . Group revenues increased 49.0 % year - over - year to SAR 4,544.1 million in 1H 2026 , driven by the acquisition of Shelf Drilling and strong performance across the Group's global offshore platform . EBITDA grew 29.2 % year - over - year to SAR 2,164.0 million , with an EBITDA margin of 47.6 % compared to 54.9 % in the same period last year , reflecting the anticipated impact of consolidating Shelf's lower - margin operations . Net profit reached SAR 374.1 million , down 3.7 % year - over - year , with a net profit margin of 8.2 % , reflecting the anticipated lower - margin contribution from Shelf alongside a non - recurring insurance - related expense . In 2Q 2026 , Group revenues increased 36.4 % year - over - year to SAR 2,153.3 million , while EBITDA grew 18.2 % to SAR 1,014.3 million , with an EBITDA margin of 47.1 % compared to 54.4 % in 2Q 2025. Net profit stood at SAR 133.3 million , down 30.5 % year - over - year , with a net profit margin of 6.2 % . Key Financial Figures SAR mn Revenues EBITDA 2Q 2026 2,153.3 2Q 2025 1,578.8 Change 36.4 % 1H 2026 1H 2025 Change 4,544.1 3,048.9 49.0 % 1,014.3 858.2 18.2 % 2,164.0 1,674.5 29.2 % EBITDA Margin 47.1 % 54.4 % -7.3pp 47.6 % 54.9 % -7.3pp Net Profit 133.3 191.7 -30.5 % 374.1 388.4 -3.7 % Net Profit Margin 6.2 % 12.1 % -6.0pp 8.2 % 12.7 % -4.5pp CF from Operating Activities before WC 910.4 849.0 7.2 % 1,999.6 1,650.9 21.1 % Financial & Operational Highlights • • Total backlog stood at SAR 34.67 billion as of 30 June 2026 , maintaining one of the highest backlog levels in the industry , with a weighted average remaining contract tenor of 4.54 years . Utilization rates remained robust at 97.6 % in 1H 2026 , with industry - beating safety metrics and maintaining a TRIR¹ of 0.08 , well below the current IADC² standard of 0.35 . Group revenues increased by a strong 49.0 % year - over - year to SAR 4,544.1 million in 1H 2026 despite the ongoing regional conflict and consequent temporary suspensions . Growth was driven by the acquisition of Shelf Drilling with increased activity across India , West & Central Africa , and Southeast Asia , strong overall offshore performance , alongside higher contributions from ADES ' production model in Egyptian brownfields . In 2Q 2026 , revenues increased 36.4 % year - over - year to SAR 2,153.3 million , even as the impact of temporary suspensions weighed more on performance during the second quarter . EBITDA similarly increased by a solid 29.2 % year - over - year to SAR 2,164.0 million in 1H 2026 despite the suspensions and thanks in part to management's proactive optimization of suspension - related costs . Resilient EBITDA performance was driven by higher contributions from offshore activities , the integration of the Shelf portfolio , and the Group's lean cost structure . In line with management's expectations , EBITDA margin declined to 47.6 % from 54.9 % in 1H 2025 , reflecting the anticipated impact of consolidating Shelf's lower- 1Total Recordable Injury Rate per 200,000 working hours . 2International Association of Drilling Contractors . 1 | ADES Holding Company