Abu Dhabi: ADNOC Group’s publicly traded companies reported a collective net profit exceeding $2.3 billion (AED8.4 billion) for the first quarter, showcasing their robust business models and resilience in adapting to evolving market conditions.
According to Emirates News Agency, each of the six companies within the ADNOC Group demonstrated strong financial results, alongside significant progress on strategic priorities aimed at driving profitable growth. ADNOC Distribution, for instance, achieved a net profit of $174 million (AED639 million) in the first quarter, marking a 16% year-on-year increase. This was their highest-ever first quarter EBITDA, attributed to record Q1 fuel sales and a strong performance in non-fuel retail. The company also expanded its service station network by adding 20 new stations, bringing the total to 915, and reaffirmed its commitment to its dividend policy, targeting an annual payout of $700 million (AED2.57 billion) through 2028.
ADNOC Drilling reported a 32% rise in revenue to $1.17 billion (AED4.30 billion) year-on-year, with EBITDA up 22% and net profit increasing 24% year-on-year. The company secured new contract awards worth over $2.4 billion (AED8.8 billion), enhancing its multi-billion-dollar revenue pipeline. The Board approved quarterly dividend distributions, totaling $217 million (AED796 million) for the first quarter of 2025, with expectations of delivering revenues between $4.60 – $4.80 billion (AED16.9 – 17.6 billion) and net profit between $1.35 – 1.45 billion (AED4.95 – 5.32 billion) for the year.
ADNOC Gas reported a net income of $1.27 billion (AED4.7 billion) for Q1 2025, up 7% year-on-year, driven by increased domestic gas demand and efficient management of planned shutdowns. The company signed significant LNG supply agreements worth $9 billion (AED30.24 billion) and increased capital expenditures by 43% year-on-year. Additionally, ADNOC Gas was selected for inclusion in the MSCI Emerging Markets Index, effective 2nd June, which is expected to attract cash inflows of $300-$500 million (AED1.0 – 1.8 billion).
ADNOC Logistics and Services plc reported a 41% increase in revenue to $1.2 billion (AED4.34 billion) and a 20% rise in EBITDA to $344 million (AED1.26 billion), driven by strong performance across all business segments. The company maintained its 2025 net income and EBITDA guidance, with a 5% projected growth in its annual dividend, reflecting its strategic expansion goals.
Borouge posted a net profit of $281 million (AED1.03 billion), with a 9% revenue rise year-on-year to $1.42 billion (AED5.21 billion) and an EBITDA of $564 million (AED2.07 billion), maintaining industry-leading margins. The company also increased its 2025 annual dividend to 16.2 fils per share, supported by Borouge Group International.
Fertiglobe reported a 26% increase in revenues and a 45% rise in adjusted EBITDA for Q1 2025. The company launched its ‘Grow 2030 Strategy’ aiming for $1 billion in EBITDA by 2030 and initiated a share buyback programme to repurchase up to 2.5% of its outstanding shares, with ADNOC’s support in optimizing fixed costs and achieving interest savings.
