Databook and Guidance - Drilling
العربية

Databook and Guidance

 
USD Billion (unless otherwise stated) FY 2025
Upgraded
Guidance
Revenue 4.75 - 4.85
Onshore 1.95 - 2.10
Offshore (Jack-up and Island) 1.35 - 1.45
Oilfield Services Revenue 1.30 - 1.40
EBITDA 2.15 - 2.30
EBITDA Margin 46% - 48%
Net Profit 1.40 - 1.45
Net Profit Margin 29% - 31%
CapEx (excluding M&A) 0.45 - 0.55
Free Cash Flow (excluding M&A) 1.40 - 1.60
Leverage Target < 2.0x
Dividend Floor 1.0 (+27% YoY)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ADNOC Drilling’s medium-term guidance is as follows:
-FY 2026 revenue expected at ~$5 billion
-FY 2026 EBITDA and net profit broadly in line with FY 2025 
-Around 50% conventional EBITDA margin (conventional drilling margins exceeding 50% and OFS margin in a range of 23-26% medium-term)
-Conservative long-term leverage target of up to 2.0x Net Debt / EBITDA
-Net working capital as percentage of revenue target of around 12%
-Maintenance CapEx of ~$250 million per annum (excluding organic and inorganic growth CapEx)
-151+ rigs by 2028, to be updated upon closing of future additional M&A transactions, and needs for unconventional
-70 IDS rigs expected by year-end 2026
 

 

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