growth and
transformation

ADNOC Distribution is a leading mobility and convenience
retailer, and the number one retail and wholesale fuel
brand in the United Arab Emirates.

ADNOC Distribution
at a glance

ADNOC Distribution is the leading fuel distributor and convenience store operator,
and the number one retail and wholesale fuel brand in the United Arab Emirates.

As of 31 December 2023

840

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Stations in our fuel retail network

~500

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Convenience stores
in our network

> 50

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EV fast charging points across
our UAE network

million liters

40

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Fuel supplied to customers per day

thousand

600

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UAE customers served per day

YEAR
IN REVIEW

A year of expansion, transformation and strong performance.

 

41

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New service stations opened
bringing the total network to 840

billion liters

14

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Total fuel volume sold
+40% compared to 2022

 

53

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Fast EV charging points across
the network UAE

million

180

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Fuel transactions
+2% compared to 2022

million

45

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Non-fuel transactions +13% compared to 2022

AED billion

3.68

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EBITDA, the highest since Company’s
IPO +5% compared to 2022

AED billion

4.03

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Free Cash Flow
+19% compared to 2022

AED billion

103

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Savings in operating expenses
on a like-for-like basis

AED billion

2.57

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Dividend distributed in 2023

Driving growth, delivering
excellence and attractive
shareholder returns

Sustained leadership in the UAE fuel distribution
market, continued execution momentum and an
ambitious international expansion plan.

A Message from
our Chairman

AED billion

3.68

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EBITDA in 2023

AED billion

2.60

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Net Profit in 2023

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A year of growth
and sustainability

I am pleased to report another successful year for the Company in 2023. In the year that ADNOC Distribution marked its 50th anniversary, we adapted to meet the changing needs of consumers, built a more resilient business model that prioritized innovation, the adoption of new AI tools, and accelerated domestic and international growth.

H.E. Dr. Sultan Ahmed Al Jaber Chairman

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CEO’S
MESSAGE

ceo

 

41

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New service stations added in UAE in 2023

million

224

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retail transactions in 2023

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Expanding horizons, navigating
challenges, and powering
a sustainable future

2023 was a record-breaking year for ADNOC Distribution. I feel a deep sense of pride in our collective achievements and would like to thank ADNOC Distribution’s employees, for their determination and commitment, as well, our customers, partners, and shareholders for their trust. We had a defining year as we delivered on our smart growth, innovation, and sustainability targets to set the stage for continued success.

Engr. Bader Saeed Al Lamki Chief Executive Officer

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Financial
Review

Strong financial performance.

AED million

34,629

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Revenue

AED million

5,836

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Gross Profit

AED million

2,262

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Net Profit Excluding Inventory Movements

AED million

3,679

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EBITDA

AED million

3,340

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Underlying EBITDA

AED million

2,601

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Net Profit

A leading mobility and
convenience retailer

ADNOC Distribution’s business is segregated into Retail (B2C) and Commercial (B2B).