ADES

Ades Holding Company

2382StocksTadawulEnergy

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operating Summary
Revenue	6.20B	4.33B	2.47B	1.51B	1.70B
Cost of Revenue	3.84B	2.62B	1.60B	0.99B	1.06B
Gross Profit	2.36B	1.71B	0.87B	0.52B	0.63B
SG&A	475.84M	412.77M	263.71M	175.11M	197.79M
Operating Expenses	585.65M	454.51M	530.36M	424.12M	250.80M
Operating Income	1.77B	1.26B	0.33B	0.10B	0.38B
Interest Income	—	—	19.19M	0.21M	3.01M
Interest Expense	-780.45M	-711.12M	-276.41M	-186.20M	-239.76M
Other Income/Expense	-23.47M	-16.12M	-23.10M	-1.96M	-9.22M
Pretax Income	970.85M	529.38M	468.34M	149.06M	116.13M
Income Tax	154.65M	77.30M	70.72M	34.63M	33.55M
Net Income	802.50M	442.10M	390.45M	107.81M	73.58M
EBITDA	2.86B	1.92B	0.70B	0.36B	0.60B
EBIT	1.77B	1.26B	0.33B	0.10B	0.38B
EPS (Basic)	0.73	0.59	—	—	—
EPS (Diluted)	0.73	0.59	—	—	—
DPS	0.44	—	—	—	—
Margins & Efficiency
Gross Margin %	+38.1%	+39.5%	+35.1%	+34.5%	+37.4%
EBITDA Margin %	+46.1%	+44.4%	+28.6%	+23.6%	+35.3%
Net Margin %	+12.9%	+10.2%	+15.8%	+7.1%	+4.3%
Revenue & Income
Revenue	6.20B	4.33B	2.47B	1.51B	1.70B
Revenue Growth (YoY)	+43.1%	+75.6%	+62.9%	-10.7%	-5.4%
Interest & Investment Income	—	—	19.19M	0.21M	3.01M
Gain (Loss) on Sale of Investments	—	—	—	-8.48M	-2.01M
Expenses & Provisions
Cost of Revenue	3.84B	2.62B	1.60B	0.99B	1.06B
Selling, General & Admin	475.84M	412.77M	263.71M	175.11M	197.79M
Operating Expenses	585.65M	454.51M	530.36M	424.12M	250.80M
Other Operating Expenses	-0.84M	41.74M	30.08M	33.02M	28.99M
Interest Expense	-780.45M	-711.12M	-276.41M	-186.20M	-239.76M
Other Non Operating Income (Expenses)	-23.47M	-16.12M	-23.10M	-1.96M	-9.22M
Merger & Restructuring Charges	-6.14M	—	-8.42M	-12.20M	—
Asset Writedown	—	—	—	-113.83M	-19.13M
D&A For EBITDA	1.09B	0.67B	0.37B	0.26B	0.22B
Profitability & Returns
Gross Profit	2.36B	1.71B	0.87B	0.52B	0.63B
Gross Margin	+38.1%	+39.5%	+35.1%	+34.5%	+37.4%
EBIT	1.77B	1.26B	0.33B	0.10B	0.38B
EBIT Margin	+28.6%	+29.0%	+13.6%	+6.5%	+22.6%
EBITDA	2.86B	1.92B	0.70B	0.36B	0.60B
EBITDA Margin	+46.1%	+44.4%	+28.6%	+23.6%	+35.3%
EBT Excluding Unusual Items	969.49M	529.38M	54.50M	-90.09M	137.26M
Pretax Income	970.85M	529.38M	468.34M	149.06M	116.13M
Operating Income	1.77B	1.26B	0.33B	0.10B	0.38B
Operating Margin	+28.6%	+29.0%	+13.6%	+6.5%	+22.6%
Profit Margin	+12.9%	+10.2%	+15.8%	+7.1%	+4.3%
Net Income	802.50M	442.10M	390.45M	107.81M	73.58M
Net Income to Common	802.50M	442.10M	390.45M	107.81M	73.58M
Net Income Growth	+81.5%	+13.2%	+262.2%	+46.5%	-31.5%
Earnings From Continuing Ops.	816.20M	452.08M	397.62M	114.43M	82.58M
Minority Interest in Earnings	-13.70M	-9.98M	-7.17M	-6.62M	-9.00M
Income Tax Expense	154.65M	77.30M	70.72M	34.63M	33.55M
Effective Tax Rate	+15.9%	+14.6%	+15.1%	+23.2%	+28.9%
Per Share & Capital
EPS (Basic)	0.73	0.59	—	—	—
EPS (Diluted)	0.73	0.59	—	—	—
EPS Growth	+24.6%	—	—	—	—
Dividend Per Share	0.44	—	—	—	—
Shares Change (YoY)	0.46	—	—	—	—
Shares Outstanding (Basic)	1.10B	0.75B	—	—	—
Shares Outstanding (Diluted)	1.10B	0.75B	—	—	—
Free Cash Flow	0.62B	-1.77B	-2.78B	-0.04B	0.18B
Free Cash Flow Margin	+10.1%	-40.8%	-112.6%	-2.5%	+10.6%
Free Cash Flow Per Share	0.57	-2.34	—	—	—
Payout Ratio	+29.6%	—	—	—	—
Supplemental
Other Unusual Items	7.50M	—	422.27M	373.66M	—

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (SAR)

	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021	2020Dec 31, 2020
Operating Summary
Revenue	6.20B	4.33B	2.47B	1.51B	1.70B
Cost of Revenue	3.84B	2.62B	1.60B	0.99B	1.06B
Gross Profit	2.36B	1.71B	0.87B	0.52B	0.63B
SG&A	475.84M	412.77M	263.71M	175.11M	197.79M
Operating Expenses	585.65M	454.51M	530.36M	424.12M	250.80M
Operating Income	1.77B	1.26B	0.33B	0.10B	0.38B
Interest Income	—	—	19.19M	0.21M	3.01M
Interest Expense	-780.45M	-711.12M	-276.41M	-186.20M	-239.76M
Other Income/Expense	-23.47M	-16.12M	-23.10M	-1.96M	-9.22M
Pretax Income	970.85M	529.38M	468.34M	149.06M	116.13M
Income Tax	154.65M	77.30M	70.72M	34.63M	33.55M
Net Income	802.50M	442.10M	390.45M	107.81M	73.58M
EBITDA	2.86B	1.92B	0.70B	0.36B	0.60B
EBIT	1.77B	1.26B	0.33B	0.10B	0.38B
EPS (Basic)	0.73	0.59	—	—	—
EPS (Diluted)	0.73	0.59	—	—	—
DPS	0.44	—	—	—	—
Margins & Efficiency
Gross Margin %	+38.1%	+39.5%	+35.1%	+34.5%	+37.4%
EBITDA Margin %	+46.1%	+44.4%	+28.6%	+23.6%	+35.3%
Net Margin %	+12.9%	+10.2%	+15.8%	+7.1%	+4.3%
Revenue & Income
Revenue	6.20B	4.33B	2.47B	1.51B	1.70B
Revenue Growth (YoY)	+43.1%	+75.6%	+62.9%	-10.7%	-5.4%
Interest & Investment Income	—	—	19.19M	0.21M	3.01M
Gain (Loss) on Sale of Investments	—	—	—	-8.48M	-2.01M
Expenses & Provisions
Cost of Revenue	3.84B	2.62B	1.60B	0.99B	1.06B
Selling, General & Admin	475.84M	412.77M	263.71M	175.11M	197.79M
Operating Expenses	585.65M	454.51M	530.36M	424.12M	250.80M
Other Operating Expenses	-0.84M	41.74M	30.08M	33.02M	28.99M
Interest Expense	-780.45M	-711.12M	-276.41M	-186.20M	-239.76M
Other Non Operating Income (Expenses)	-23.47M	-16.12M	-23.10M	-1.96M	-9.22M
Merger & Restructuring Charges	-6.14M	—	-8.42M	-12.20M	—
Asset Writedown	—	—	—	-113.83M	-19.13M
D&A For EBITDA	1.09B	0.67B	0.37B	0.26B	0.22B
Profitability & Returns
Gross Profit	2.36B	1.71B	0.87B	0.52B	0.63B
Gross Margin	+38.1%	+39.5%	+35.1%	+34.5%	+37.4%
EBIT	1.77B	1.26B	0.33B	0.10B	0.38B
EBIT Margin	+28.6%	+29.0%	+13.6%	+6.5%	+22.6%
EBITDA	2.86B	1.92B	0.70B	0.36B	0.60B
EBITDA Margin	+46.1%	+44.4%	+28.6%	+23.6%	+35.3%
EBT Excluding Unusual Items	969.49M	529.38M	54.50M	-90.09M	137.26M
Pretax Income	970.85M	529.38M	468.34M	149.06M	116.13M
Operating Income	1.77B	1.26B	0.33B	0.10B	0.38B
Operating Margin	+28.6%	+29.0%	+13.6%	+6.5%	+22.6%
Profit Margin	+12.9%	+10.2%	+15.8%	+7.1%	+4.3%
Net Income	802.50M	442.10M	390.45M	107.81M	73.58M
Net Income to Common	802.50M	442.10M	390.45M	107.81M	73.58M
Net Income Growth	+81.5%	+13.2%	+262.2%	+46.5%	-31.5%
Earnings From Continuing Ops.	816.20M	452.08M	397.62M	114.43M	82.58M
Minority Interest in Earnings	-13.70M	-9.98M	-7.17M	-6.62M	-9.00M
Income Tax Expense	154.65M	77.30M	70.72M	34.63M	33.55M
Effective Tax Rate	+15.9%	+14.6%	+15.1%	+23.2%	+28.9%
Per Share & Capital
EPS (Basic)	0.73	0.59	—	—	—
EPS (Diluted)	0.73	0.59	—	—	—
EPS Growth	+24.6%	—	—	—	—
Dividend Per Share	0.44	—	—	—	—
Shares Change (YoY)	0.46	—	—	—	—
Shares Outstanding (Basic)	1.10B	0.75B	—	—	—
Shares Outstanding (Diluted)	1.10B	0.75B	—	—	—
Free Cash Flow	0.62B	-1.77B	-2.78B	-0.04B	0.18B
Free Cash Flow Margin	+10.1%	-40.8%	-112.6%	-2.5%	+10.6%
Free Cash Flow Per Share	0.57	-2.34	—	—	—
Payout Ratio	+29.6%	—	—	—	—
Supplemental
Other Unusual Items	7.50M	—	422.27M	373.66M	—