Addis reports restart of maritime platforms

Addis Holding Company announced the full resumption of its suspended offshore platform operations in Saudi Arabia, while reaffirming its forecast of achieving a 33% to 44% increase in EBITDA (earnings before interest, taxes, depreciation, and amortization) by 2026. This resurgence reflects the strength of the global offshore drilling market, where rig utilization rates exceed 90%, supported by strong charter rates and a structural shortage in global supply. The company continues to meet its financial objectives through acquisitions, diversification, and strengthening momentum in international markets, with its adjusted earnings outlook remaining between 4.50 and 4.87 billion Riyals for 2026.

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