IssuerAnnouncementDetailsV2Portlet
Actions
Arabian Drilling Announces its Annual Financial Results for the Year Ended on 2022-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 2,703.5 | 2,199 | 22.94 | ||
| Gross Profit (Loss) | 801.4 | 475.6 | 68.5 | ||
| Operational Profit (Loss) | 619.1 | 363.4 | 70.36 | ||
| Net Profit (Loss) after Zakat and Tax | 557.7 | 273.6 | 103.84 | ||
| Total Comprehensive Income | 554.8 | 295.7 | 87.62 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 5,589.8 | 4,191.8 | 33.35 | ||
| Profit (Loss) per Share | 6.85 | 3.42 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in current year’s net income is mainly due to: 1. Strong Revenue Growth driven by a robust rig demand resulting in higher rig utilization as well as increased day rates, particular in the Offshore segment 2. A one-off exceptional tax credit of SAR 74M related to deferred tax adjustment, most of which was recognized and disclosed in Q3 2022. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Reclassification of Comparison Items | 1. Certain items related to advance income tax are reclassified to Trade and Other Receivable to adhere to current year’s presentation. 2. Certain provisions in cost of revenue are reclassified to General and Administrative expenses to adhere to current year’s presentation. 3. Certain items related to finance cost and finance income are reclassified from Cash flows from operating activities to Cash flows from investing and financing activities respectively, to adhere to current year’s presentation. 4. Profit (Loss) per Share for Previous Year is based on a total number of 80,000,000 shares in accordance with International Accounting Standards (IAS) – 33 “Earnings per Share”. |
| Additional Information | Profit (Loss) Per Share for Current Year is based on a weighted average number of shares of 81,430,137 following the 9,000,000 shares issuance at completion of the Initial Public Offering transaction in November 22. |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
Share
Company Performance
Key Parameters
Last Price 152.0
Net Change -1.4 (-0.91%)
Value Traded (Sar) 22,242,363.6
Volume Traded 145,327
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions