• 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
Net profit increases to AED 2.4 billion in 2020 and to AED 851 million in Q4 2020;
Read moreCompany’s dividend policy sets a dividend of minimum AED 2.57 billion (20.57 fils per share) for full-year 2022
Read moreUnderlying EBITDA of AED 740 million in Q1 2021 Net profit of AED 631 million in the first quarter
Read moreUnderlying EBITDA grows by 4.7% to USD 171 million with Net Profit of USD 109 million in Q1 2020
Read more• Located on the E11 highway between Abu Dhabi and Dubai, flagship EV Megahub is the sixth largest superfast charging site in the world and is the largest across the Middle East, Africa, and Turkey with 60 charging points
• Launch marks a key milestone in ADNOC Distribution’s comprehensive roadmap to electrify UAE highways, with 20 highway hubs expected to launch by the end of 2027, including 15 planned in 2026.
• EV Megahub launch also marks the opening of the latest The Hub by ADNOC location designed as a commuter-first destination, blending fuel, EV charging, and retail into one seamless experience.
• 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
• Interim dividend, equivalent to 10.285 fils per share, to be distributed in October 2024, with September 26, 2024, set as last day for purchasing shares to qualify for payment
• Company’s new five-year dividend policy sets annual dividend of $700 million or minimum of 75% of net profit, whichever is higher, offering improved payback visibility and potential upside from future earnings growth
• Since its IPO in 2017, ADNOC Distribution has consistently delivered attractive shareholder returns, distributing $4.4 billion in dividends including the H1 2024 payout