Press releases, Reports & Disclosures for Drake & Scull International P.J.S.C

On April 30, 2025, the General Assembly Meeting of Drake and Scull International PJSC was held at The H Hotel in Dubai at 5:00 pm. The meeting was chaired by the Vice Chairman, Mr. Abdulla Atatreh. Mr. Fadi Mohammad was appointed as the meeting rapporteur, and Mr. Yousef Qaren as the vote collector. The majority of shareholders ratified the Board of Directors’ report concerning the company's activities and financial position for the fiscal year ending December 31, 2024.

Passavant Energy & Environment Ltd., a subsidiary of Drake and Scull International PJSC, has secured a contract to design, construct, and operate the North Balqa Wastewater Treatment Plant in Jordan. The project, valued at JOD 41.5 million (approximately AED 215 million), is funded by the Agence Française de Développement and the European Union’s Neighborhood Investment Platform. It aims to improve wastewater infrastructure in the Balqa Governorate, with an initial treatment capacity of 36,000 cubic meters per day, eventually reaching 54,000 cubic meters daily. The facility will also convert waste into electrical energy, aligning with Jordan's sustainability goals. The project includes design, equipment supply, testing, commissioning, and a year of operation and maintenance. Key features include a wastewater treatment plant, pumping station, effluent treatment units, sludge treatment tanks, pipelines, and an odor control system, with treated water being transferred to the King Talal Dam for agricultural use.

Drake & Scull International (PJSC) is inviting its shareholders to the Annual General Assembly Meeting on April 25, 2025, at The H Dubai Hotel. The agenda includes authorizing meeting officials, reviewing and approving financial reports for 2024, discussing dividend proposals, board remuneration, and potential liability absolution for board members and auditors. Other items include appointing auditors for 2023, reclassifying legal reserves, granting a loan to a subsidiary, and amending the company's articles of association. Shareholders must register electronically to attend and vote, with options to participate in person or virtually. Proxies and corporate representation are allowed under specific conditions. The meeting requires a quorum of at least 50% shareholder representation, with a second meeting scheduled if necessary. Financial statements and governance reports are available on the company's website.

Drake and Scull International PJSC (DSI), a company specializing in mechanical, electrical, and plumbing contracting services, as well as oil and gas, and water treatment projects, reported a significant financial turnaround for the year ending December 31, 2024. The company achieved a net profit of AED 3.76 billion, reversing a net loss of AED 367 million from the previous year. This improvement was attributed to a successful restructuring plan and capital injection. Key financial highlights include a 20% revenue increase to AED 103.7 million, gross profit growth to AED 5.3 million, and a rise in total assets to AED 647 million. Shareholder equity improved to AED 151.7 million, and earnings per share reached AED 1.685. Strategic achievements included a comprehensive restructuring plan approved by the Dubai Court of Appeal, a capital raise of AED 454 million, new project contracts worth AED 1 billion, and operational efficiencies that reduced finance costs.