Our vision is to We harness energy resources in the service of our nation.
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:
Grow Market Share in UAE
Despite uncertainties caused by COVID-19 pandemic, we are accelerating our domestic expansion plans in the UAE, reiterating our commitment to deliver growth in 2021 and beyond. We intend to boost our top-line growth in both fuel and non-fuel businesses. To achieve our long-term growth objective, we are focusing on the following key areas:
- Network expansion in Dubai to gain market share
- Maintain dominant market share in Abu Dhabi and the Northern Emirates
- Commercial growth
- Lubricants growth
- Non-Fuel Growth
Delivering on our international expansion remains integral to our ambitious smart growth strategy. We expect to grow internationally in markets, including in Saudi Arabia, where we see opportunities that can deliver against our investment criteria of more than 15% internal rate of return. Besides Saudi Arabia, we are also exploring other markets in GCC, Middle East and Northern Africa and Asia region.
Unlock value from our assets
To unlock value from our growing retail assets in order to maximize return on capital employed, we are undertaking comprehensive retail network health analysis based on data analytics to enhance asset utilization and earnings growth. This can be achieved through network portfolio optimization, property services transformation and fuel premiumization and portfolio management.
OPEX and CAPEX Efficiency
We are adopting an OPEX and CAPEX lite efficiency approach with customized operating models across the value chain. 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.
To achieve our strategic objectives, we are continuing to invest in key enablers that will enable us to successfully execute our strategy. Key enablers are:
People and Performance Culture: We are 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
Digital and IT Infrastructure: The use of advanced technology is key to leveraging our position as the number one retailer in the UAE. We are modernizing our entire IT landscape through multiple digital and IT initiatives that comprise ERP, CRM, Unified Retail Management system, Machine Learning and Artificial Intelligence. We are revamping our digital Infrastructure to offer superior customer interface.
Operational and Customer Excellence: 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.
Brand: We are closely monitoring our customer satisfaction and investing in ADNOC brand in UAE and new markets as we expand internationally.
Sustainability and CSR: We are committed to meet energy needs of our nation in a sustainable manner. We are undertaking initiatives to reduce Green House gas emissions in line with our 2030 decarbonisation strategy. We are taking concrete steps for reducing our energy intensity like use of solar panels, installation of EV chargers, use of smart technology etc. Our corporate social responsibility initiatives are focused in the pillars of Economy and Community service, wherein we are committed to increase In-country value, promote local employment and entrepreneurship.