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 3Q24 profit after tax of USD335mn, up 30% YoY (+14% QoQ)</li><li>The result was higher than our estimates mainly led by outstanding growth in OFS business as well as lower operating expenses</li><li>The YoY jump in profits was led by rampant rig addition which reached 140 rigs in 3Q24 versus 124 rigs in 3Q23 as well as contribution from investment in associates</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 3Q24 profit after tax of USD335mn, up 30% YoY (+14% QoQ)The result was higher than our estimates mainly led by outstanding growth in OFS business as well as lower operating expensesThe YoY jump in profits was led by rampant rig addition which reached 140 rigs in 3Q24 versus 124 rigs in 3Q23 as well as contribution from investment in associatesContent 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: 3Q24 profit up 30% YoY (+14% QoQ) to USD335mn, higher than estimates

ADNOC Drilling PJSC

ADNOC Drilling: 3Q24 profit up 30% YoY (+14% QoQ) to USD335mn, higher than estimates