Press releases, Reports & Disclosures for ADNOC Drilling Company PJSC

The Board of Directors of ADNOC Drilling Company P.J.S.C. has announced the opening of nominations for its Board membership from February 21, 2024, to March 2, 2024. Shareholders who meet the criteria can submit their applications for the roles of Executive Director, Non-Executive Director, or Independent Director. The board will be made up of seven members. Candidates must comply with UAE Federal Law No. (32) of 2021 and the Chairman of Authority’s Board of Directors’ Decision no. (3 / Chairman) of 2020. All applications and supporting documents must be submitted to aboardsecretary.drilling@adnoc.ae by 3:00pm UAE time on March 2, 2024. The list of nominees will be published on the company's website and provided to the Securities and Commodities Authority and the Abu Dhabi Securities Exchange after the nomination period closes.

ADNOC Drilling Company has reported robust financial results for 2023, with a net profit exceeding $1 billion, marking a 29% increase year-on-year. The company's revenue also saw a 14% increase to $3.06 billion, driven by operational growth and the addition of new rigs to the fleet. EBITDA reached $1.5 billion, with a 49% margin. The Board of Directors has recommended a final cash dividend of $358 million, a 5% increase from 2022. The company also provided its full-year 2024 and medium-term guidance, reaffirming its growth focus.

The text appears to be the cover or introductory page for ADNOC Drilling Company P.J.S.C.'s Year End 2023 Earnings report. The report, which includes a Management Discussion & Analysis section, was released on February 12, 2024.

The text is a title for the reports and consolidated financial statements of ADNOC Drilling Company P.J.S.C. for the year ended 31 December 2023.

ADNOC Drilling Company PJSC has reported a 29% year-on-year increase in net profit for 2023, exceeding $1 billion and surpassing market expectations. The company's revenue for the full year was $3.057 billion, up 14% year-on-year, driven by operational growth and the addition of new rigs to the fleet. EBITDA for the year increased by 20% to $1.483 billion with an industry-leading EBITDA margin of 49%. The Board of Directors has recommended a final cash dividend of $358 million, representing a 5% year-on-year increase. ADNOC Drilling has also announced its full-year 2024 and medium-term guidance, reaffirming its focus on growth.

The Board of Directors of ADNOC Drilling Company PJSC will hold a meeting on 12 February 2024 at 3:30 PM in Abu Dhabi. The agenda of the meeting includes reviewing the company's audited financial statements for the year ended 31 December 2023, a proposal for holding the Annual General Assembly Meeting of the company and approving its agenda, a proposal for distributing a cash dividend for the second half of the year 2023, and other general business matters.