Ades Holding Co. (2382)

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News

31 May 06:57 AM ADES Holding’s recommendation unchanged with revised TP – Aljazira Capital

Riyadh – Mubasher: The ‘Overweight’ recommendation on ADES Holding Company has recently been maintained by Aljazira Capital with a revised TP of SAR 22.7 per share. The adjusted TP was increased from SAR 18.9 per share, according to Aljazira …

Ratings

18 May 08:39 AM ADES Holding rolls out SAR 181m contract for jack-up in Nigeria

Riyadh - Mubasher: ADES Holding Company has secured a new contract for its Main Pass IV standard jack-up rig in Nigeria, estimated at SAR 180.70 million ($48.20 million). The contract has a one-year firm term, with an additional one-year unpriced …

Company News

17 May 11:08 AM Saudi ADES Holding extends Shelf Drilling contract for over SAR 832m

Riyadh - Mubasher: ADES Holding Company has extended its contract for the Shelf Drilling Winner with Tenaz Energy Netherlands B.V. for operations in the Dutch sector of the North Sea, according to a press release. The deal, which commenced in …

Companies Investments

13 May 02:34 AM ADES Holding delivers strong performance during Q1-26 despite operational suspensions in GCC

Riyadh - Mubasher: ADES Holding Company registered net profits attributable to the shareholders totaling SAR 236.44 million in the first quarter (Q1) of 2026, an annual rise of 21.78% from SAR 194.15 million. The revenues climbed by 62.61% to SAR …

Financial Results

23 April 03:18 AM ADES Holding secures SAR 345m project award in Thailand

Riyadh - Mubasher: ADES Holding Company was awarded a SAR 345 million ($92 million) contract from Valeura Energy, a subsidiary of Valeura Energy Inc., to provide offshore drilling services in Thailand. The agreement comprises a three-year tenor, …

Companies Investments

12 April 08:31 AM ADES extends offshore rig contract in Nigeria

Riyadh - Mubasher: ADES Holding Company has extended the drilling contract with Chevron Nigeria Limited for its premium jackup rig, Shelf Drilling Scepter, for one year, with a one-year unpriced option. The extension adds approximately SAR 178 …

Mergers and Acquisitions

30 March 07:37 AM ADES Holding’s global investments prompt higher profits in 2025; dividends announced

Riyadh - Mubasher: ADES Holding Company generated 1.93% year-on-year (YoY) higher net profits attributable to the owners at SAR 818.01 million in 2025, versus SAR 802.49 million. The earnings per share (EPS) went up to SAR 0.74 last year from SAR …

Global Economy

29 December 2025 03:08 PM We keep ‘Neutral’ stance on Saudi equity market – EFG Hermes

Riyadh – Mubasher: A recent report by EFG Hermes, an EFG Holding Company, indicated that the outlook for Saudi Arabia remains challenging, yet the market is believed to have decently corrected and is too cheap to be deemed ‘underweight’. EFG …

Banking and Finance

27 November 2025 03:06 PM ADES Holding’s unit secures SAR 236m contract for jackup rig in Brunei

Riyadh - Mubasher: ADES Holding Company has secured, through its wholly owned subsidiary Shelf Drilling, which was recently acquired, a new contract for the Compact Driller standard jackup with Brunei Shell Petroleum Sdn (BSP). Under the two-year …

Companies Investments

26 November 2025 02:37 PM ADES Holding acquires Shelf Drilling to fuel global expansion

Riyadh - Mubasher: ADES Holding Company has acquired Shelf Drilling Limited through a cash merger, anchoring the Saudi group’s position as a global leader in offshore drilling. ADES Holding currently has a combined fleet of 83 offshore units and …

Companies Investments

3 November 2025 11:10 AM ADES Holding generates SAR 4.7bn revenues in 9M-25

Riyadh - Mubasher: ADES Holding Company logged net profits amounting to SAR 607.50 million in the first nine months (9M) of 2025, up 0.20% year-on-year (YoY) from SAR 606.25 million. The revenues climbed by 1.57% to SAR 4.70 billion as of 30 …

Financial Results

2 November 2025 09:19 AM ADES Holding resumes contracts in Saudi Arabia to meet global demands

Riyadh - Mubasher: ADES Holding Company has received resumption notices for one of its offshore contracts and several onshore contracts in Saudi Arabia. Expected to commence in January 2026, the offshore contract aims to meet its client’s needs, …

Companies Investments

18 September 2025 08:03 AM ADES Holding increases cash offer in Shelf Drilling merger

Riyadh - Mubasher: ADES Holding Company, ADES International Cayman (BidCo), and Shelf Drilling have revised the terms of the proposed cash merger, increasing the offer to NOK 18.50 per share. The revised offer has secured irrevocable commitments …

Mergers and Acquisitions

4 September 2025 06:52 AM Saudi ADES pens SAR 808m agreement with QatarEnergy

Riyadh – Mubasher: ADES Holding Company inked a contract for offshore drilling services for its jackup rig, Aquamarine Driller, with QatarEnergy. The two parties signed the agreement on 2 September, with an estimated backlog of SAR 808 million …

Companies Investments

5 August 2025 05:07 PM ADES Holding’s profits cross SAR 388m in H1-25; dividends approved

Riyadh – Mubasher: ADES Holding Company recorded net profits valued at SAR 388.36 million in the first half (H1) of 2025, down 3.62% year-on-year (YoY) from SAR 402.97 million. Revenues edged down by 0.27% to SAR 3.04 billion as of 30 June 2025 …

Financial Results

1 June 2025 01:51 PM ADES Holding expands West African footprint via SAR 129m contract award

Riyadh – Mubasher: ADES Holding Company has been awarded a SAR 128.90 million contract for the use of Admarine 510 in Cameroon, marking the Saudi group’s entry into its 13th country of operations. The one-year deal also aligns with the company’s …

Companies Investments