The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM
ADNOC Drilling Company PJSC announced on Thursday record financial results for the fourth quarter and full year ending on December 31, 2024.
Full-year revenue reached AED14.70 billion (US$4.03 billion), an increase of 32 percent year-on-year. Full-year EBITDA amounted to AED7.41 billion (US$2.01 billion), an increase of 36 percent year-on-year, with a 50 percent margin.
Full-year net profit totalled AED4.77 billion (US$1.30 billion), representing an increase of 26 percent year-on-year, with a 32 percent margin.
Commenting on the record 2024 financial results, Abdulrahman Abdulla Al Seiari, ADNOC Drilling CEO, said, “Our record-breaking financial performance demonstrates our constant commitment to maximising growth and returns for our shareholders, while delivering sustainable and innovative solutions to our customers, both here in Abu Dhabi and beyond our borders. Our outstanding 2024 financial results reinforce ADNOC Drilling’s position as the world’s fastest growing energy services company with net profit more than doubling since listing on ADX.
“As we remain focused on our future growth, we continue to expand our fleet and capabilities at ADNOC Drilling and through our joint ventures, Enersol and Turnwell, to continue powering the future of energy with AI-enabled technology
investments, sustainability and innovation. I’d like to thank our people, partners and customers for their commitment and shared vision, as we continue to unlock the world-class energy resources in our region and set new benchmarks in the global energy industry.”