Abu Dhabi: ADNOC Drilling Company announced today strong financial results for the first quarter of 2025 (Q1 2025), building on its growth trajectory, demonstrating its financial resilience and laying the foundation for another year of growth and success.
According to Emirates News Agency, the company achieved revenues of $1.17 billion, an increase of 32% year-on-year. EBITDA reached $533 million, a 22% year-on-year increase. Net profit amounted to $341 million, representing a 24% year-on-year growth. ADNOC Drilling’s growth momentum continues in 2025, fueled by sustained strong demand for its services, a relentless focus on operational excellence, and strategic investments in fleet expansion, integrated services, artificial intelligence (AI), advanced technologies, and international expansion.
Abdulrahman Abdulla Al Seiari, ADNOC Drilling CEO, remarked, “The first quarter of 2025 has been more than just a strong start for ADNOC Drilling, it has demonstrated our financial resilience and laid the foundation for another year of significant growth. We are progressing at pace on our strategic priorities, expanding our rig fleet, scaling our oilfield services offering, and advancing our AI and digital capabilities.” He further noted that as the company secures new contracts and expands into strategic markets, its scale and commitment to innovation continue to enhance efficiency and performance across the business. With a robust revenue pipeline, sustained demand, growing international interest, and unparalleled visibility of future earnings, ADNOC Drilling is well positioned to deliver sustainable growth and value for its shareholders. The company remains committed to playing a leading role in the advancement of energy services in its domestic market and beyond.
On 18th March 2025, at the Annual General Meeting, company shareholders approved all the agenda items, including the distribution of the final cash dividend payment for the year ended 31st December 2024. The final shareholder-approved cash dividend payment for 2024 amounted to $394 million (approximately 9.05 fils per share) and was made in April 2025. This brought the total 2024 dividend to $788 million (approximately 18.1 fils per share), representing a 10% year-on-year increase versus 2023.
On 7th May 2025, the Board of Directors approved dividends to be paid quarterly. The first quarterly dividend payment of 2025 will be for an amount of $217 million (approximately 5 fils per share) and is expected to be paid on or around 28th May 2025, to all shareholders of record as of 19th May 2025. For each of the following three quarterly distributions for 2025, the amount of $217 million will be a floor. As per the dividend policy, the Board of Directors, at its discretion, may approve additional dividends over and above the progressive dividend floor after considering free cash flow accretive growth opportunities.