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ADNOC Drilling's Analyst Databook
ADNOC Drilling's 2025 Guidance:
| USD Billions (unless otherwise stated) | FY2025 Guidance |
| Revenue | 4.60 – 4.80 |
| Onshore Revenue | 1.95 – 2.10 |
| Offshore Revenue (Jack-up & Islands)1 | 1.35 – 1.45 |
| Oilfield Services Revenue | 1.10 – 1.25 |
| EBITDA | 2.15 – 2.30 |
| EBITDA Margin | 28% – 30% |
| Net Profit | 1.35 – 1.45 |
| Net Profit Margin | 28% – 30% |
| CapEx (excluding M&A)2 | 0.35 – 0.55 |
| FCF (excluding M&A)3 | 1.30 – 1.60 |
| Leverage Target | < 2.0x |
| Dividend floor (+10% vs 2024) | 0.87 |
Note: the 2025 guidance excludes the acceleration of unconventional and any additional land rigs (i.e. 2025 capex guidance only includes maintenance capex and island rigs).
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