ARABIAN DRILLING-

Arabian Drilling saw its net income drop 65% y-o-y to SAR 7 mn in 2Q 2025, driven by a drop in rig utilization to 79% from 91% in 2Q last year, along with increased finance expenses from higher debt, it said in its earnings release (pdf). Revenue also slipped 8.2% y-o-y to SAR 862 mn during the same period due to a 43.2% decline in the offshore segment, despite 23.7% growth in the land segment.

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On a 1H basis, the company’s bottom line was down 50% y-o-y to SAR 83 mn, while its top line fell 6.9% y-o-y to SAR 1.8 bn.

Looking ahead: For 3Q 2025, Arabian Drilling anticipates a potential revenue decline of up to 10% from 2Q, citing ongoing rig suspensions and market uncertainties. The company expects its strong backlog and cost optimization efforts to streamline operations ahead of a challenging 2H.

Dividends on pause: The company’s board recommended pausing dividends for this year due to rig demand fluctuations, ongoing capital investments in its fleet, and regional expansion plans, it said in a filing to the bourse. The proposal requires shareholders’ approval.

ALSO- Arabian Drilling opened a new branch in the UAE’s Sharjah to serve as a regional base for its GCC and international operations, according to a separate disclosure to Tadawul.

MOUWASAT MEDICAL SERVICES-

Mouwasat Medical Services’ net income increased 22.4% y-o-y to about SAR 187 mn in 2Q 2025, backed by revenue growth, higher income streams, lower impairment provisions, reduced financing costs, and lower Zakat expenses, it said in a disclosure to Tadawul yesterday. Revenue also rose 15.4% y-o-y to SAR 796.4 mn during the quarter, driven by higher outpatient visits, stronger inpatient occupancy, and continued benefits from improved client contracts.

On a 1H basis, the company’s bottom line widened 18.4% y-o-y to SAR 384 mn, while its top line grew 10.4% y-o-y to SAR 1.6 bn.

UNITED CARTON INDUSTRIES CO.-

Tadawul newcomer United Carton Industries Company (UCIC) posted a 71.4% y-o-y drop in net income to SAR 8 mn in 2Q 2025, weighed down by higher raw material costs, particularly paper, it said in a disclosure to Tadawul yesterday. Meanwhile, revenue rose 6.3% y-o-y to SAR 335 mn during the quarter, supported by higher sales volumes in the corrugated and folding carton segments.

On a 1H basis, UCIC’s net income declined 57.4% y-o-y to SAR 26.7 mn, while revenue rose 2.1% y-o-y to SAR 684.8 mn.

SPECIALIZED MEDICAL CO.-

Tadawul newcomer Specialized Medical Co. (SMC) reported a net income of SAR 36.4 mn in 2Q 2025, down 28.6% y-o-y, according to a disclosure to Tadawul. The decline was mainly due to the company’s shift away from long-term care services, as well as transition-related costs, including staff retention, pre-opening expenses for new clinics, and one-off charges tied to rebranding and IPO preparation.

Revenue rose 6.6% y-o-y to SAR 380 mn during the quarter, supported by the launch of 21 new outpatient clinics and the ramp-up of 20 clinics opened in 1Q.

On a 1H basis: SMC posted SAR 66 mn in net income for the first six months of 2025, down 34.1% from the same period last year. Meanwhile, revenue rose 4.1% y-o-y to SAR 748.9 mn.

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