Addis contains the worst profits in five chapters during the first quarter of 2025

“Addis Holding” recorded its lowest profit in five chapters during the first quarter of 2025, after the net profit fell by 1.6% year -on -year to 194.2 million Riyale, which was affected by the decline in turnover by 4% due to a temporary postponement of some operating activities, according to the company in a statement on the Saudi Stock Exchange “. The company indicated that the temporary decline in operating performance came during the preparation to operate a number of new platforms in recent contracts, including three land platforms in Kuwait, and marine platforms in Nigeria, Thailand and Brazil. CEO Mohamed Farouk, in an interview with “Al -Sharq”, pointed out that the profit expectations before interest, taxes, consumption and extinguish for the current year (EBITDA) are still at the levels announced at the beginning of the year, despite the fluctuations of markets. Business pressure in the main markets recorded the company a decrease in revenue from a number of large markets, especially Saudi Arabia, in which turnover fell by 19%, Kuwait by 28%and Qatar by 15%. On the other hand, Egypt revenue increased by 17%, while India, Algeria and Tunisia had a strong growth of 54%and 75%respectively, which contributed to reducing the impact of decrease in other markets. Despite the operational slowdown, the value of the accumulated works of “Addis” reached about $ 26.9 billion at the end of March, which is one of the highest in the drilling and energy services sector. In April, the company strengthened its wallet by winning new contracts worth 2.08 billion Riyals, reflecting the continuation of the momentum in its regional and global expansion. Optimistic expectations for the financial year, “Addis” expected the financial year 2025 to see the performance of the performance, driven by the entry of new projects to operation and high platform use figures. The company estimated that the profits before interest, tax, consumption and firefighting ranged between 3.28 and 3.39 billion Riyals, with an annual growth of between 8% and 12%. “Addis Holding” is one of the most important regional businesses in the field of excavation and production services for the oil and gas sector, and the Saudi public investment fund has a 23.8% share of its capital. The company offered its shares to subscribe to a price of 13.5 Riyals in October 2023, and its share is currently trading at 14.92 Riyals.