ADNOC Distribution earnings top $1bln for second year
Adnoc Distribution announced that its earnings before interest, taxes, depreciation and amortisation (EBITDA) surpassed US$1 billion for the second consecutive year, reflecting the strength of its operational foundations and its steady path to delivering strong shareholder returns. The company aims to generate a return on investment exceeding 6 percent.
Bader Saeed Al Lamki, Chief Executive Officer of Adnoc Distribution, said in a statement to the Emirates News Agency (WAM) that the company maintains a robust financial position, enabling it to explore new investment opportunities outside its three current markets in a way that creates added value for shareholders and maximises returns.
Al Lamki noted that the company has maintained steady growth since its listing on the Abu Dhabi Securities Exchange in 2019, expanding its operations from the domestic market to promising regional markets including the Kingdom of Saudi Arabia and the Arab Republic of Egypt.
He stated that Adnoc Distribution currently operates 900 service stations and plans to increase this number to 1,000 by 2028. He emphasised the company's commitment to enhancing non-fuel services such as Adnoc Oasis convenience stores, car wash stations and vehicle inspection centres. Recently, the company opened new inspection centres in shopping malls, in line with the UAE's Year of the Community initiative, to provide greater convenience for customers.
As part of its efforts to promote sustainable mobility, Al Lamki highlighted that the company currently operates approximately 200 electric vehicle charging points across the UAE and aims to increase this number to 500 high-power chargers by 2028. Adnoc Distribution's chargers are among the fastest available, capable of charging a battery from 20 to 80 percent in a short time.
The CEO affirmed that the company continues to enhance customer experience by leveraging artificial intelligence and its smart Adnoc app, which offers home delivery services in partnership with strategic partners including the UAE-based platform Noon.
Al Lamki said the company currently operates in three major markets characterised by high population density, developed infrastructure and growing energy demand, with further growth opportunities ahead. He noted that Adnoc Distribution operates 100 service stations in Saudi Arabia and 244 stations in Egypt, where the company has also commenced lubricants manufacturing as part of its ongoing expansion in the Egyptian market.
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