Our vision is to be a leading world-class fuels and retail business by offering enhanced customer choice and convenience in an evolving world of mobility.
We recognize that the success of our business can only be achieved by placing our customers at the center of our offering. Our customer-centric focus is an integral part of our transformational journey from a fuel retailer to a retail destination offering more than just fuel. Our strategy maps out how we will provide smart solutions to our customers’ evolving needs, while delivering sustainable and profitable growth and providing attractive returns to shareholders.
Key pillars of our strategy:
Customer and digital leadership
Improving the customer experience is central to our success. We achieve this by understanding what services customers’ value and thus enhance our offers to meet their needs. We differentiate our offering through speed, convenience, service offering, digital experience, price and loyalty.
We are uniquely positioned to introduce products and services to our extensive customer base that boost customer satisfaction and loyalty, while driving incremental revenue and profitability. A number of customer experience initiatives we recently launched include an innovative ‘ADNOC On the go’ fuel station, a new ‘ADNOC Rewards’ loyalty program, a next generation ‘ADNOC Oasis’ convenience store and multiple digital payment options.
The use of advanced technology is key to leveraging our position as the number one retailer in the UAE. For example, our proprietary smart technology allows pump activation and seamless payment processing without pump attendants, should the customer choose. At our newly refurbished next-generation ADNOC Oasis store, customers can also “tap and go” with self-payment option, while ‘ADNOC On the go’ neighborhood stations offer new digital technologies to enhance customer experience right from the ordering stage until the payment.
We continue to implement a clear and deliverable strategy, with a target to grow EBITDA to over US$1bn by 2023. We aim to achieve this by increasing profitability, consolidating our market leader status in the UAE, enhancing our product range and expanding geographically. We intend to boost our top-line growth in both fuel and non-fuel through the acceleration of our domestic expansion in the UAE, particularly in Dubai. We also expect to grow internationally, where we see opportunities that can deliver against our investment criteria of more than 15% internal rate of return.
To achieve our long-term growth objective, we are focusing on the following key areas: Network expansion in Dubai, Premiumization, Commercial growth, Lubricants growth and Non-Fuel Growth.
World class efficiency
Our focus is consistently around operational excellence, efficiencies and optimization throughout our organization. We are optimizing our expenditures to become an increasingly efficient organization and balancing a reduction in our costs whilst maintaining a high level of customer service.
In the fuel retail business, we are pursuing network-wide performance analysis while executing operational improvement initiatives. In the commercial business, we are undertaking strategic initiatives to develop and improve the business including product portfolio and price optimization.
In the non-fuel business, we are pursuing network-wide improvement initiatives including convenience stores category management, supplier negotiations and car services optimization.
We have made significant progress in rationalizing our cash OPEX and optimization of CAPEX to build our new stations. However, there is still room for significant improvements..
We are building on ADNOC’s legacy by instilling a performance-led culture that views everything we do through a commercial lens. People are at the core of our strategic imperatives. Throughout the transformation, we focus on the development of a highly skilled, world-class work force and encouraging a strong sense of responsibility and commitment. By investing in our people, we are enabling the successful execution of our strategic priorities.