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Dolfines

CR
Bloomberg   ALDOL FP
Engineering-Heavy Constr.  /  France  Web Site   |   Investors Relation
Acquisitions and new management ensure growth but financing still a headache
Target
Upside 66.5%
Price (€) 0.00
Market Cap (€M) 6.74
Perf. 1W: 0.00%
Perf. 1M: 0.00%
Perf. 3M: 133%
Perf Ytd: 40.0%
10 day relative perf. to stoxx600: -13.4%
20 day relative perf. to stoxx600: -3.47%
Other news/comments11/01/2022

Prequalified in Saudi Arabia for rig inspection

Positive news in oil & gas with this prequalification for rig inspection and acceptance services for Saudi Aramco Drilling. The Middle East has been particularly resilient to the oil crisis, where Factorig has recently signed several contracts with new customers. Overall, the low breakeven levels, as well as continuing development works, will allow a decent level of activity in inspection services across the whole business cycle.


Fact

Dolfines Abu Dhabi represented by BAAS International Group (BIG Group) had been approved to bid on upcoming contracts for rig Inspection and acceptance services from Saudi Aramco Drilling.


Analysis

This announcement follows the agreement received by Factorig from Saudi Aramco in H1 to work as a supplier. With this cleared, Dolfines is now able to bid for work in the Kingdom along with the other prequalified service suppliers.

Establishing a partnership with BIG Group seems to be driven by the legal requirements applying to foreign companies when bidding in Saudi Arabia. BIG Group is a Saudi conglomerate of several companies, offering services in oil & gas, logistics and communication.


Updates

28 Jul 22 Earnings/sales releases
H1: Growth in both segments

09 Jun 22 Strategic Plan
Development continues in renewables

03 May 22 Earnings/sales releases
FY21: recap as investments accelerate in rene...

31 Mar 22 Other news/comments
Strong start of the year

11 Jan 22 Other news/comments
Prequalified in Saudi Arabia for rig inspection

01 Dec 21 Other news/comments
Second green bond, rig sale resurfaces

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