UAE: Higher fuel sales, expansion boost Adnoc's net profit by over 12% in H1 2025
The UAE's largest fuel and convenience retailer achieved its highest-ever first-half EBITDA of $566 million, up 10 per cent YoY.
It saw a record first-half fuel volumes of 7.62 billion litres during H1 2025, up 5.6 per cent from the same period last year.
Bader Saeed Al Lamki, CEO of Adnoc Distribution, said Adnoc Distribution's non-fuel retail business continues to drive strong growth, with a 14.9 per cent YoY increase in non-fuel retail gross profit and a 10.4 per cent YoY rise in transactions for the first half of 2025.
'This continued outperformance of non-fuel retail over fuel retail reinforces the company's strategic focus on diversifying revenue streams and capturing growing demand for convenience services. In addition, Adnoc Rewards, the UAE's leading fuel and convenience loyalty programme, grew by 19.5 per cent YoY to nearly 2.5 million users,' he added.
Network expansion
Adnoc Distribution continued its network expansion between January and June 2025, bringing its total network to nearly 940. A majority of the new stations are located in Saudi Arabia, where the company is successfully leveraging its Capex-light Dealer Owned-Company Operated (DOCO) business model. The DOCO model has enabled Adnoc Distribution to double its Saudi network YoY, from 69 to 140 stations.
The company has revised its expansion guidance upwards to 60 to 70 new stations by the end of 2025, with 50 to 60 of these located in Saudi Arabia. The company has set a target of 3,000 points of sale in Egypt by the end of 2026, further strengthening its regional presence.
Additionally, Adnoc Distribution's E2GO fast- and super-fast EV charging network reached over 300 charging points now installed across the UAE. It aims to expand the network to over 500 charging points by 2028. The company is on track to meet its target of adding 100 new charging points in 2025.
Adnoc Distribution expects an annual payout of $700 million (at 20.57 fils per share) or a minimum of 75 per cent of net profit, whichever is higher, through 2028. At a share price of Dh3.70 as of August 6, 2025, this represents an annual yield of nearly six per cent. A dividend of $350 million for H1 2025 is expected to be distributed in October 2025, subject to board approval.
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