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Arabian Drilling announces its Annual Financial results for the period ending on 2023-12-31
2381
ARABIAN DRILLING
-1.58
%
1445/09/08 18/03/2024 08:20:39
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 3,477 | 2,704 | 28.59 | ||
| Gross Profit (Loss) | 976 | 801 | 21.85 | ||
| Operational Profit (Loss) | 801 | 619 | 29.4 | ||
| Net profit (Loss) | 605 | 558 | 8.42 | ||
| Total Comprehensive Income | 597 | 555 | 7.57 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 5,961 | 5,590 | 6.64 | ||
| Profit (Loss) per Share | 6.79 | 6.85 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Revenue increase is mainly due to higher rig activity, as well as increased day rates of certain rigs. Between Q4’22 and Q3’23, the Company started operating 5 additional offshore rigs which added to the revenue in 2023. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net profit increased is mainly driven by margin contribution of the 5 additional offshore rigs, partially offset by higher finance cost and tax charges. FY’22 Net Profit included a one-time tax effect of change in effective shareholding of SAR 73.8 million |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | Not Applicable |
| Reclassification of Comparison Items | Not Applicable |
| Additional Information | Profit per share for FY 2023 is based on 89,000,000 shares following listing in November 2022 (FY 2022 was based on weighted average number of 81,430,137 shares) |
| 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.
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