العربية

Databook and Guidance

 
USD Billions, unless otherwise stated
(unless otherwise stated)
FY 2026 Guidance
Revenue ~ 5
of which Onshore > 2.1
of which Offshore > 1.4
of which Oilfield Services > 1.4
EBITDA ~ 2.2
EBITDA Margin ~ 44%
Net Profit ~ 1.45
Net Profit Margin ~ 29%
CapEx (cash capex, excluding M&A) ~ 0.6
Free Cash Flow (excluding M&A) 1.2 – 1.3
Dividend 1.225*

*Includes the proposed second discretionary dividend tranche of $87.5 million, which remains subject to shareholder approval at the Annual General Assembly.

Looking beyond 2026, ADNOC Drilling's growth is supported by the continued scaling of OFS and IDS, regional expansion, and accelerating technology adoption. Ongoing investment in UAE production capacity, gas development, unconventional resources, and energy infrastructure is expected to sustain demand for the Company's services, while fleet expansion and automation-led productivity gains support long-term visibility on earnings and cash flow generation. 

Maintenance CapEx is expected to be up to $0.3 billion per annum, with around $0.5 billion growth CapEx expected in full-year 2027.

The Company targets a long-term leverage range (pre-M&A) of 1.0x-2.0x Net Debt/EBITDA, reflecting its highly contracted earnings profile and commitment to efficient capital allocation.

As anticipated, for full-year 2027, the Company expects low-to-mid-single-digit revenue growth and broadly stable EBITDA margin compared to full-year 2026 guidance level.

Net income is expected to remain stable from full-year 2026 to full-year 2027 as a result of higher depreciation and financing cost.

A more granular guidance for 2027 and beyond will be provided in due course, as future business needs and financial contributions are further determined.

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