Anton Oilfield Services Group (3337) H1 2026 earnings summary

Executive summary

• Revenue remained stable despite Middle East tensions impacting project execution and receivables collection, which pressured profit and cash flow.

• Middle East tensions eased somewhat in Q2 2026, but regional risks and supply chain disruptions persisted, impacting oilfield projects, especially in Iraq.

• Achieved global market expansion with significant breakthroughs in the Middle East and North Africa, including a major asset-light project award in Kuwait and entry into Algeria's oil & gas market.

• The group focused on expanding key markets (GCC, North Africa, Iraq), operational efficiency, and cost control, while enhancing technical and digital capabilities.

• Expanded green energy infrastructure through heavy-duty EV charging hub development, targeting key transportation corridors.

Financial highlights

• Revenue for the period was RMB 2,682.2 million, up 1.9% year-over-year.

• Profit attributable to equity holders was RMB 165.1 million, up 36.6% year-over-year.

• Free cash flow improved significantly to RMB 173.0 million from negative RMB 241.7 million in the prior year.

• New orders in Q2 2026 totaled RMB3,109.3 million, up 3.2% year-over-year.

• As of June 30, 2026, order backlog stood at RMB18,516.5 million: Iraq 39.3%, China 47.5%, other markets 13.2%.

Outlook and guidance

• Strategic upgrade to expand the green energy business leveraging the energy ecosystem.

• Q3 2026 faces renewed Middle East escalation, with continued energy market and supply chain risks.

• Upstream investment and energy infrastructure demand expected to remain robust.

• Focus areas: strengthening technical services, digital/intelligent operations, expanding global markets, and advancing asset securitization.

• Plans to drive ecosystem-based growth using the listed platform and foster entrepreneurship through employee share ownership programs.