DANA GAS (DANA) Q2 2026 earnings summary

Executive summary

• Net profit for H1 2026 rose 47% year-over-year to $107 million, including a one-off $48 million gas metering adjustment; underlying net profit was $59 million due to higher costs post-KM250 and temporary KRI disruption.

• Revenue increased 51% year-over-year to $258 million, driven by the one-off adjustment and higher hydrocarbon prices.

• Group production averaged 52,900 boepd in H1 2026, stable year-over-year; Egypt production grew 7%, offsetting a 2% decline in KRI due to security disruptions.

• KM250 expansion completed and commissioned early, boosting capacity and enabling group production to exceed 70,000 boepd in January.

• Egypt investment program delivered consecutive quarters of production growth, full settlement of overdue receivables, and new gas supply agreements expanding market reach.

Financial highlights

• EBITDA increased 62% to $170 million year-over-year.

• Gross profit rose to $149 million in H1 2026.

• Cash balance at period end was $230 million, including $95 million at Pearl JV.

• Dividend of $124 million (6.5 fils/share) paid, up 18% from FY24.

• H1 capex totaled $45 million, with $17 million in KRI and $28 million in Egypt.

Outlook and guidance

• Additional capacity from KM250 expansion expected to support future growth as regional security stabilizes, with management targeting 75,000 boepd group production.

• Four additional wells planned in Egypt by end of 2026.

• Focus remains on maximizing production capacity, progressing Chemchemal development, and improving KRI collections.