ADES stock trades at SAR 16.80 as backlog reaches SAR 34.67 billion

Published on 10/08/2026 at 09:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

ADES stock was trading at SAR 16.80 on October 8, 2026, while first-half revenue reached SAR 4.54 billion. Backlog stood at SAR 34.67 billion as of June 30.

ADES, SA55SG6H5716, Illustration mit AI erstellt.

ADES Holding Company (ISIN SA55SG6H5716) was trading at SAR 16.80 on Tadawul on October 8, 2026, down SAR 0.03 or 0.18 percent from the prior close. The market is weighing a drilling business with SAR 34.67 billion in backlog and a major capital-restructuring plan.

Backlog reaches SAR 34.67 billion

According to ADES Group, total backlog stood at SAR 34.67 billion as of June 30, 2026. The company also reported 97.6 percent effective utilization and a fleet of 123 units operating across 20 countries.

The operating profile is concentrated in drilling services, with offshore rigs forming a central part of the fleet. For investors, the combination of backlog and utilization provides a more direct measure of contracted activity than the share price alone.

Revenue and margin define 2026

ADES reported SAR 4.54 billion in revenue from contracts with customers for the half ended June 30, 2026, alongside a 47.6 percent EBITDA margin, according to ADES Group. The company reported SAR 365 million in first-half net profit, while second-quarter net income was SAR 128.5 million, according to the same investor-relations publication.

The quarterly comparison is mixed: first-quarter net income was SAR 236.4 million, making second-quarter net income SAR 107.9 million lower. That change matters because the margin remained high while earnings were affected by the quarter-to-quarter shift in operating performance.

Capital increase vote set for October 28

ADES is preparing a shareholder vote on October 28, 2026, on a 100 percent capital increase through one bonus share for every existing share. The Saudi Exchange said on September 22, 2026, that the proposed increase would lift capital from SAR 1,129,062,513 to SAR 2,258,125,026 and shares from 1,129,062,513 to 2,258,125,026.

The company also completed its acquisition of Saudi Arabian Saipem Ltd. on September 15, 2026, in a transaction valued at SAR 1.07 billion and involving three premium jackup rigs plus two leased premium jackups, Arab News reported.

ADES stock stays below its yearly high

ADES stock was trading at SAR 16.80 on Tadawul on October 8, 2026, with volume of 479,917 shares. Its 52-week range was SAR 15.07 to SAR 19.94, while market capitalization stood at SAR 18.5 billion on the same date.