Anton Oilfield Services Group (3337) Q4 2024 earnings summary

Executive summary

• Achieved significant expansion in global oil and gas emerging markets, with a focus on the natural gas industry chain and localized solutions for emerging market countries.

• Successfully executed major projects in Iraq, China, and other overseas markets, including the Dhafriyah Oilfield and LNG projects.

• Enhanced organizational mechanisms, optimized human resources, and maintained strong cash flow and ample cash reserves by year-end.

Financial highlights

• New orders in Q4 2024 totaled RMB2,651.0 million, up 73.4% year-over-year.

• Iraq market new orders surged 102.5% year-over-year to RMB1,678.9 million; China market new orders rose 81.4% to RMB931.1 million.

• Other overseas markets saw a 78.0% year-over-year decrease in new orders to RMB41.0 million.

• Order backlog as of December 31, 2024, stood at RMB14,224.2 million, with Iraq accounting for 43.2%, China 48.8%, and other overseas markets 8.0%.

• Order reduction of RMB38.8 million in other overseas markets due to differences between estimated and actual project workloads.

Outlook and guidance

• Strategic focus on long-term growth, global market expansion, and digital intelligence service capabilities through 2030.

• Plans to accelerate market presence in the Middle East, Africa, and Southeast Asia, and deepen operations in mature markets.

• Emphasis on digitalization, integrated service capabilities, and new product development for global coverage.

• Continued enhancement of supply chain management, cost control, and capital management to drive economic and social benefits.