Anton Oilfield Services Group (3337) Q3 2024 earnings summary

Executive summary

• Achieved rapid growth in new orders across all markets in Q3 2024, with significant expansion in Iraq, other overseas regions, and China.

• Maintained stable and high-quality operations on major projects, supporting annual business objectives.

• Advanced natural gas localization solutions in emerging markets to drive efficient resource utilization.

Financial highlights

• New orders in Q3 2024 totaled RMB1,487.1 million, up 48.2% year-over-year.

• Iraq market new orders reached RMB500.3 million, up 30.6% year-over-year; other overseas markets RMB351.9 million, up 91.9%; China RMB634.9 million, up 45.4%.

• Order backlog as of September 30, 2024, stood at RMB13,043.8 million.

Outlook and guidance

• Expects moderate global economic growth in Q4 2024 as interest rate cuts begin.

• Plans to expand in emerging markets (Middle East, Africa, Southeast Asia) and strengthen presence in mature markets.

• Will focus on promoting natural gas localization solutions globally and enhancing market leadership.