• EBITDA increased by 15.0% year-on-year to $267 million and net profit rose by 12.9% year-on-year (YoY) to $170 million in Q2 2024
• Non-fuel retail gross profit increased by 13.5% year-on-year in Q2 2024, supported by a 10.9% growth in non-fuel transactions and a convenience store conversion rate exceeding 26% for the first time in four years
• The Company’s free cash flow stood in H1 at $488 million, representing 46.7% YoY growth
• Company expects to pay a $350 million dividend for H1 2024 in October, fully covered by the H1 cash flow.
• The company is actively pursuing over 20 innovative AI projects in 2024 and has established partnerships with leading global AI technology firms to maintain its market-leading position
Company’s Q3 2023 EBITDA rises to $303 million (AED1.1 billion) and net profit increases 9% Y-o-Y to $227 million (AED835 million)
Read more• Shareholders approve $350 million (10.285 fils per share) dividend for the second half of 2024, taking total dividends for the year to 20.57 fils per share with a 6.1% yield.
• Since its 2017 IPO, ADNOC Distribution has delivered a total shareholder return of 92%, or $7.8 billion (AED28.6 billion), through both aggregate share price growth and dividend yields.
• Record EBITDA, fuel volumes, non-fuel retail growth, and higher contributions from international operations contributed to strong 2024 performance.
• By implementing plans to add 40-50 new service stations across its network, installing 100 EV charging points in the UAE, and accelerating growth in Saudi Arabia, ADNOC Distribution is positioned for expansion in 2025 in line with its growth strategy.
• Record EBITDA of $1.05 billion, an increase of 4.8% year-on-year
• Non-fuel retail business continues to demonstrate strong results, with double-digit gross profit growth of 12.5% year-on-year
• Record fuel volumes increased 8.7% year-on-year to 15 billion liters
• Accelerated network expansion by adding 59 stations in 2024, including 30 stations under development in Saudi Arabia, driven by the new growth strategy
• Board recommends $350 million dividend equivalent to 10.285 fils per share for the second half of 2024, subject to shareholders’ approval
Launch of the first cross-conversion partnership between Etihad Guest and ADNOC Distribution following the success of the Fuel Up & Fly Off programme
Read moreEarn points on all purchases that can be redeemed for products and services across ADNOC Distribution stations and ADNOC Oasis stores
Read moreNet profit increases to AED 2.4 billion in 2020 and to AED 851 million in Q4 2020;
Read morePromotions on Iftar and Suhoor to Redeem at Local Hotels with ADNOC Rewards Points
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