External broker reports(aggregated public sources), International Securities

International Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul>
<li>ADNOC Drilling posted 2Q24 profit after tax of USD295mn, up 30% YoY (+7% QoQ). The board recommended 1H24 cash dividend of AED0.09/sh., 10% higher YoY.</li>
<li>The result and divided were in line with our estimates.</li>
<li>The YoY jump in profits was led by rampant rig addition which reached 140 rigs in 2Q24 versus 116 rigs in 2Q23.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


ADNOC Drilling posted 2Q24 profit after tax of USD295mn, up 30% YoY (+7% QoQ). The board recommended 1H24 cash dividend of AED0.09/sh., 10% higher YoY.
The result and divided were in line with our estimates.
The YoY jump in profits was led by rampant rig addition which reached 140 rigs in 2Q24 versus 116 rigs in 2Q23.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ADNOC Drilling - 2Q24 Profit up 30% YoY (+7% QoQ) To USD295mn, in Line with Estimates

ADNOC Drilling PJSC

ADNOC Drilling - 2Q24 Profit up 30% YoY (+7% QoQ) To USD295mn, in Line with Estimates