ADES Q2 Profits Decline by 5% to SAR 191.7 Mln

ADES Holding Co. announced on Monday that its net profit declined by 5.1% to SAR 191.7 million in the second quarter of 2025, compared with SAR 202.1 million in the same quarter of last year. This came after the announcement today of the estimated financial results for the period ending June 30, 2025.

Operational profit reached SAR 487.5 million in the second quarter of 2025, compared with SAR 472 million in the same quarter of the previous year, a growth of 3.2%.

Profits per share reached SAR 0.35 in the second quarter, compared with SAR 0.36 in the same quarter of the previous year.

According to the Company, net profit registered a slight decline of 3.6% year-on-year to SAR 388.4 million in the first half of 2025, despite strong earnings before interest, taxes, depreciation and amortisation (EBITDA). This reflected higher depreciation and interest-to-income ratios, driven by the group’s year-on-year fleet growth and the increased rig operations and transfers during the same period. The group expects these ratios to return to normal levels in the coming periods with the completion of all rig operations.