Adnoc Distribution on track to install 500 EV charging points by 2028
Adnoc Distribution, the UAE's leading fuel and convenience retailer, is targeting installation of approximately 100 additional fast and super-fast EV charging points and 40-50 new service stations across the UAE in 2025 as part of its commitment to future-proofing and building the future of mobility.
In 2025, Adnoc Distribution will continue to drive towards its five-year strategic objectives, including 1,000 service stations across its network, increasing non-fuel transactions by 50 per cent, and expanding its E2GO network to 500 EV charging points across the UAE by 2028. 'Diversification and innovation are key drivers of our growth,' the retailer said in a statement.
The company will also explore new ways to position its service stations as more than just functional stops, redefining them as welcoming spaces at the heart of the communities they serve. 'The company aims to double the number of properties occupied by top international and regional food and beverage brands by the end of the year, compared to the end of 2023,' the leading oil retailer said.
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, the Abu Dhabi-based retailer major said.
The company also announced on Wedensday that its shareholders approved $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 per cent yield.
Since its 2017 IPO, Adnoc Distribution has delivered a total shareholder return of 92 per cent, or $7.8 billion (Dh28.6 billion), through both aggregate. This year's dividend distribution of $700 million marks a 3.5 times increase from the $200 million distributed in the first year as a listed company.
Dr. Sultan Ahmed Al Jaber, chairman of Adnoc Distribution, said 2024 was another record-breaking year financially for the company. 'We delivered against our five-year strategy, achieving significant milestones that strengthened our market position and set the stage for long-term success. For the second consecutive year, our Ebitda surpassed $1 billion, driven by record fuel volumes—which increased by nearly 9.0 per cent—and sustained non-fuel retail growth, which have allowed us to deliver strong shareholder returns.'
In 2024, Adnoc Distribution unveiled a five-year growth strategy underpinned by commitments to domestic growth, building international platforms, and future-proofing its business. By successfully executing this strategy, the Company achieved a record Ebitda of Dh3.86 billion in 2024, a 5.0 per cent year-on-year increase driven by record fuel volumes, strong non-fuel retail growth, and higher contributions from its operations in Saudi Arabia and Egypt. The 2024 dividend reflects the company's ability to generate strong free cash flow, which totalled Dh2.78 billion in 2024.
Bader Saeed Al Lamki, CEO of Adnoc Distribution, said the company is committed to leading the way for the future of mobility and convenience retail, as evidenced by its commitment to expanding international operations and prioritising high-growth areas.
By 2028, Adnoc Distribution seeks to grow the number of Adnoc Oasis convenience stores by 25 per cent, increase non-fuel transactions by 50 per cent and scale directly-operated franchise stores to 50 or more locations - a strategy is expected to allow for a 2.5-fold increase in property yield compared to traditional rental agreements.
The company is targeting 1,000 service stations across its network by 2028, and aims to add 40-50 in 2025, with 30-40 of these to be located in Saudi Arabia. In 2024, the company reached a milestone of 100 service stations in the Kingdom by deploying a smart Dealer-Owned, Company-Operated (DOCO) model. By 2029, Adnoc Distribution targets at least 300 stations across the kingdom, positioning the company among the top five fuel and convenience retailers in the Saudi market.
The company sees planned capex of $250-300 million this year. 'Through AI-driven data analytics and personalised engagement, the company is reinforcing its commitment to digital transformation, strengthening its position as the UAE's leading multi-energy mobility retailer while expanding internationally in a disciplined manner,' the company said.
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