Latest news with #ADNOCGas
Al Etihad
17 hours ago
- Business
- Al Etihad
UAE stock markets report steady gains in May despite global volatility
1 June 2025 19:12 A. SREENIVASA REDDY (ABU DHABI)The UAE equity markets closed May 2025 on a positive note, with both the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) recording gains, despite volatility in global markets, according to the monthly market report from Kamco combined market capitalisation of the two bourses rose as investors gained confidence from steady earnings, increased liquidity, and sector-specific momentum. The report highlights that both exchanges remained among the more resilient performers in the GCC during the month.'Equity markets in the GCC region remained volatile during May replicating the trend in the broader global financial markets. Almost all markets in the region witnessed gains during the month, but a 5.8% decline in the TASI (Saudi index) dragged the MSCI GCC index into the red with a decline of 2.6% during the month,' Kamco Invest ADX General Index registered a monthly gain of 1.6%. The index closed at 9,685.1 points in May, bringing its year-to-date performance for 2025 to 2.8%.According to Kamco Invest: 'Sectoral performance on the exchange was evenly split, with five out of 10 sector indices registering declines, while the remaining five recorded gains.'The overall gain in the FTSE ADX General Index was driven by advances in the Energy, Financial, Real Estate, and Utilities Indices. The Energy Index posted the steepest gain, climbing 4.4%, as two out of the four constituent companies recorded share price increases, led by a 7.7% rise in ADNOC Distribution's share price during the month. The Utilities Index followed closely with a gain of 3.8%, supported by a 3.8% share price increase in its sole constituent company, Abu Dhabi National Energy Co, during terms of monthly stock performance, Presight AI led the gainers' chart for May-2025 with a substantial 32.5% increase in its share price. It was followed by Phoenix Group and Sudatel, which recorded gains of 18.4% and 15.9%, respectively. On the decliners' side, Al Wathba National Insurance Company registered the sharpest fall, with a 24.8% drop in its share price during May, followed by Insurance House Co. and United Arab Bank, which posted declines of 13.1% and 10.7%, activity on the exchange was robust but subdued during May. Total volume of shares traded declined by 8.1%, reaching 6.9 billion shares, compared to 7.6 billion shares in April. Conversely, the total value of traded shares rose by 18.2%, amounting to Dh30.6 billion in May, up from Dh25.9 billion in the previous month. ADNOC Gas topped the most active stocks by volume with 1.4 billion shares traded, followed by Multiply Group and Phoenix Group, which recorded trading volumes of 1 billion shares and 499.5 million shares, respectively. In terms of value traded, ADNOC Gas also led with Dh4.6 billion worth of shares changing hands, followed by International Holdings Company and Al Dar Properties, with traded values of Dh 4.56 billion and Dh2.8 billion, DFM General Index recorded its second consecutive monthly gain in May, rising by 3.3% to close the month at 5,480.5 points. This increase brought the index's year-to-date performance for 2025 to 6.2%.Sectoral performance was entirely positive, with all eight sector indices posting gains during the month. The Materials Index posted the steepest gain at 9.1%, followed by the Industrial Index, which advanced 6.2%. The Financial Index improved by 4.4% in May, mainly supported by double-digit gains in several key companies within the sector, including Dubai Insurance Co (+24.8%) and Naeem Investment Holding (+14.8%). Meanwhile, the Real Estate Index — the largest weighted index among the DFM indices — registered a marginal uptick of 0.1% during the month. Slight share price increases in companies such as Tecom (+1.6%) and Emaar Properties (+0.4%) contributed to the overall marginal improvement of the Real Estate Index. The Utilities Index rose by 0.8% with a 1.9% increase in the share price of DEWA helped offset a 5.0% decline in Empower and a 1.1% drop in to Bloomberg's monthly stock performance data, Amlak Finance led the list of top gainers in May with a notable 30.2% surge in its share price. It was followed by Dubai Insurance and Naeem Investment, which recorded gains of 24.8% and 14.8%, respectively. Trading activity on the exchange was mixed in May. The total volume of shares traded declined by 3.6%, reaching 4.5 billion shares compared to 4.7 billion shares in April. In contrast, the total value of shares traded rose by 17.5% to Dh 15.1 billion in May against Dh12.8 billion in April. DEWA topped the monthly trading volume chart, with 994.1 million traded shares followed by Salik and Talabat at 465.7 million and 397.4 million shares, respectively. In terms of trading value, Emaar Properties led with Dh 3.1 billion worth of shares traded, followed by DEWA and Salik at Dh 2.7 billion and Dh 2.6 billion, respectively.
Sharjah 24
6 days ago
- Business
- Sharjah 24
AED 8.4 billion net profit for ADNOC-listed companies
Each of the six companies delivered strong financial results in the first quarter, alongside clear progress on strategic priorities aimed at driving profitable growth. ADNOC Distribution delivered first quarter net profit of $174 million (AEDAED639 million), up 16% year-on-year, and its highest-ever first quarter EBITDA behind record Q1 fuel sales and strong performance in non-fuel retail. The company added 20 new service stations to its network in the quarter, bringing the total to 915 and putting it on track to meet its target of 40-50 new stations by the end of 2025. ADNOC Distribution also reaffirmed its commitment to its dividend policy, aiming for an annual payout of $700 million (AEDAED2.57 billion) equivalent to (20.57 fils per share) or at least 75% of net profit, whichever is higher, through 2028. ADNOC Drilling reported strong first quarter results with revenue up 32% to $1.17 billion (AEDAED4.30 billion) year-on-year (y-o-y), EBITDA up 22% to $533 million (AEDAED1.96 billion) y-o-y and net profit increasing 24% to $341 million (AEDAED1.30 billion) y-o-y. The company also announced new contract awards worth over $2.4 billion (AEDAED8.8 billion) providing unmatched multi-year earnings visibility and adding to its multi-billion-dollar revenue pipeline. Additionally, ADNOC Drilling's Board of Directors approved quarterly dividend distributions, resulting in a payment of $217 million (AED796 million) for the first quarter of 2025. For 2025, ADNOC Drilling expects to deliver 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). ADNOC Gas reported a net income of $1.27 billion (AED4.7 billion) for Q1 2025, up 7% year-on-year, and EBITDA of $2.16 billion (AED7.9 billion), up 4% year-on-year, driven by increased domestic gas demand and efficient management of the planned shutdown programme, which boosted processing capacity. The company continues to invest to achieve its longer-term EBITDA growth target of over 40% between 2023 and 2029. Significant LNG supply agreements worth $9 billion (AED30.24 billion) were signed with Indian Oil Corporation and JERA Global Markets, and capital expenditures increased by 43% year-on-year. On 13th May, ADNOC Gas was selected for inclusion in the MSCI Emerging Markets Index after meeting the necessary criteria. The inclusion will take effect from 2nd June, and is expected to increase cash inflows by between $300-$500 million (AED1.0 – 1.8 billion) and attract more international institutional investors. ADNOC Logistics & Services plc (ADNOC L&S) reported strong Q1 2025 financial results with a 41% increase in revenue to $1.2 billion (AED4.34 billion) and a 20% rise in EBITDA to $344 million (AED1.26 billion), backed by strong performance across all business segments. The results underpin the resilience of the company's diversified business model where growth from the Integrated Logistics segment offset lower seasonal shipping rates. ADNOC L&S maintained both its 2025 net income and EBITDA guidance and its medium-term guidance, reflecting its continued positive long-term growth and strategic expansion. The Company's 2025 annual dividend is expected to grow 5% in line with its progressive dividend policy. Borouge reported strong Q1 2025 results with net profit of $281 million (AED1.03 billion), driven by year-on-year increases of 10% for sales volumes and 7% for production volumes. Revenue grew by 9% year-on-year to $1.42 billion (AED5.21 billion), with EBITDA of $564 million (AED2.07 billion), maintaining industry-leading margins of 40%. The company also announced it has purchased over 89 million of its own shares since launching its share buyback programme in April, reflecting its strong confidence in its future prospects. Borouge will increase its 2025 annual dividend to 16.2 fils per share, which is expected to be maintained until 2030 by Borouge Group International (BGI) following completion of the BGI transactions that are expected to close in Q1 2026. Fertiglobe announced strong Q1 2025 results, with revenues up 26% and adjusted EBITDA rising 45% year over year. Adjusted net profit would have been up 306% excluding last year's one-off foreign exchange revaluation gain, driven by higher urea prices and operational gains. The company also launched its 'Grow 2030 Strategy' to deliver $1 billion in EBITDA by 2030, focusing on operational excellence, customer proximity product expansion, and disciplined low-carbon ammonia growth. Fertiglobe's optimisation initiatives are enhanced by ADNOC's full support to integrate and optimise $15 - 21 million (AED55.1 – 77.1 million) of the company's fixed costs in addition to $10 million (AED36.7 million) in annual interest savings via direct and indirect financing support. Combined, these would lead to ~13-16% after tax earnings per share growth by the end of 2025. The company also reaffirmed its dividend policy to substantially pay out all excess free cash flows after providing for growth opportunities, and in April initiated a share buyback programme to repurchase up to 2.5% of its outstanding shares.
Al Etihad
26-05-2025
- Business
- Al Etihad
ADNOC's listed companies post strong Q1 results with over $2.3 billion net profit
26 May 2025 10:29 ABU DHABI (WAM) ADNOC Group's publicly traded portfolio companies combined to deliver over $2.3 billion (Dh8.4 billion) in first quarter net profit, reflecting their resilient business models and ability to generate robust profits in evolving market of the six companies delivered strong financial results in the first quarter, alongside clear progress on strategic priorities aimed at driving profitable Distribution delivered first quarter net profit of $174 million (Dh639 million), up 16% year-on-year, and its highest-ever first quarter EBITDA behind record Q1 fuel sales and strong performance in non-fuel company added 20 new service stations to its network in the quarter, bringing the total to 915 and putting it on track to meet its target of 40-50 new stations by the end of Distribution also reaffirmed its commitment to its dividend policy, aiming for an annual payout of $700 million (Dh2.57 billion) equivalent to (20.57 fils per share) or at least 75% of net profit, whichever is higher, through Drilling reported strong first quarter results with revenue up 32% to $1.17 billion (Dh4.30 billion) year-on-year (y-o-y), EBITDA up 22% to $533 million (Dh1.96 billion) y-o-y and net profit increasing 24% to $341 million (Dh1.30 billion) company also announced new contract awards worth over $2.4 billion (Dh8.8 billion) providing unmatched multi-year earnings visibility and adding to its multi-billion-dollar revenue ADNOC Drilling's Board of Directors approved quarterly dividend distributions, resulting in a payment of $217 million (Dh796 million) for the first quarter of 2025, ADNOC Drilling expects to deliver revenues between $4.60 - 4.80 billion (Dh16.9 – 17.6 billion) and net profit between $1.35 - 1.45 billion (Dh4.95 – 5.32 billion).ADNOC Gas reported a net income of $1.27 billion (Dh4.7 billion) for Q1 2025, up 7% year-on-year, and EBITDA of $2.16 billion (Dh7.9 billion), up 4% year-on-year, driven by increased domestic gas demand and efficient management of the planned shutdown programme, which boosted processing company continues to invest to achieve its longer-term EBITDA growth target of over 40% between 2023 and 2029. Significant LNG supply agreements worth $9 billion (Dh30.24 billion) were signed with Indian Oil Corporation and JERA Global Markets, and capital expenditures increased by 43% May 13, ADNOC Gas was selected for inclusion in the MSCI Emerging Markets Index after meeting the necessary criteria. The inclusion will take effect from 2nd June, and is expected to increase cash inflows by between $300-$500 million (Dh1.0 – 1.8 billion) and attract more international institutional Logistics & Services plc (ADNOC L&S) reported strong Q1 2025 financial results with a 41% increase in revenue to $1.2 billion (Dh4.34 billion) and a 20% rise in EBITDA to $344 million (Dh1.26 billion), backed by strong performance across all business segments. The results underpin the resilience of the company's diversified business model where growth from the Integrated Logistics segment offset lower seasonal shipping L&S maintained both its 2025 net income and EBITDA guidance and its medium-term guidance, reflecting its continued positive long-term growth and strategic expansion. The Company's 2025 annual dividend is expected to grow 5% in line with its progressive dividend reported strong Q1 2025 results with net profit of $281 million (Dh1.03 billion), driven by year-on-year increases of 10% for sales volumes and 7% for production grew by 9% year-on-year to $1.42 billion (Dh5.21 billion), with EBITDA of $564 million (Dh2.07 billion), maintaining industry-leading margins of 40%.The company also announced it has purchased over 89 million of its own shares since launching its share buyback programme in April, reflecting its strong confidence in its future will increase its 2025 annual dividend to 16.2 fils per share, which is expected to be maintained until 2030 by Borouge Group International (BGI) following completion of the BGI transactions that are expected to close in Q1 announced strong Q1 2025 results, with revenues up 26% and adjusted EBITDA rising 45% year over year. Adjusted net profit would have been up 306% excluding last year's one-off foreign exchange revaluation gain, driven by higher urea prices and operational company also launched its 'Grow 2030 Strategy' to deliver $1 billion in EBITDA by 2030, focusing on operational excellence, customer proximity product expansion, and disciplined low-carbon ammonia optimisation initiatives are enhanced by ADNOC's full support to integrate and optimise $15 - 21 million (Dh55.1 – 77.1 million) of the company's fixed costs in addition to $10 million (Dh36.7 million) in annual interest savings via direct and indirect financing support. Combined, these would lead to ~13-16% after tax earnings per share growth by the end of 2025. The company also reaffirmed its dividend policy to substantially pay out all excess free cash flows after providing for growth opportunities, and in April initiated a share buyback programme to repurchase up to 2.5% of its outstanding shares.
Zawya
26-05-2025
- Business
- Zawya
GCC ECM to see more issuances, but deal sizes may shrink amidst volatility: HSBC
In the aftermath of the global turmoil unleashed by the Trump tariffs last month, GCC ECM transactions will retain their momentum but with a possible shrinkage in size, according to Samer Deghaili, HSBC's Co-Head of Capital Markets & Advisory, MENAT. 'I am positive we will see more ECM issuance this year in terms of numbers [compared to 2024],' Deghaili told Zawya. He added that this would be particularly true from an IPO perspective, as there will be a higher number of offerings, albeit smaller, 'a trend that will continue into early 2026.' While the impact of the US tariffs has weighed heavily on global equity markets, the GCC remains relatively immune to the volatility, which has been apparent from recent deal flow activity, Deghaili said. 'DCM [debt capital market] issuance has been particularly strong, and the market kicked off this month with multiple transactions, many of which are in the billion-dollar-plus bracket. On the ECM side, we have three different situations in the market now.' Looking at the wider MENA region, LSEG data reveals that equity and equity-related issuances totalled $4.7 billion during the first quarter of 2025. HSBC led the MENA ECM underwriting league table with a 24% market share. IPOs accounted for 34% of the activity, with a total of 12 offerings in Q1 2025, raising a combined $1.6 billion. HSBC also acted as a bookrunner on ADNOC Gas' $2.8-billion secondary share sale in February, the proceeds of which contributed to follow-on offerings reaching a 17-year high of $3.1 billion. 'Whether in terms of capital deployment or weighting, investors remain extremely positive about the region. Those who have cash holdings are in many cases deploying them very soon, and underweight positions are, in many circumstances, moving to overweight,' he said. 'Our IPO pipeline remains extremely busy for the fourth quarter, and we haven't seen any deals delayed at our end. We have multiple mandated deals that we are working towards for Q4, and we are pressing ahead as planned.' One of the most anticipated IPOs in the UAE this year is the Etihad Airways listing, which may be announced towards the fourth quarter of 2025 and is speculated to be worth $1 billion. HSBC is one of the banks tapped for the offering, according to a Reuters report last March. Deghaili counts aviation as one of the sectors that will be in focus this year, along with technology, real estate, and energy. According to Deghaili, the region's ECM is expected to maintain strong liquidity, stemming from a growing interest in the GCC among foreign investors. 'Emerging market funds and hedge funds, many of which now have on-the-ground presence here, are topping up even further in the Middle East as they look to achieve their return targets. That could be a catalyst for new global funds as well to access the region,' he said. Strong M&A pipeline Saudi Arabia and Abu Dhabi in the UAE will take the lead in dealmaking in the region, Deghaili said. 'We see the current uncertainty as a catalyst for investment banking activity in Saudi Arabia, with deal flow and further consolidation locally on the M&A front,' he said. 'In the UAE, from an M&A perspective, we expect a strong year ahead. There are many deals in the pipeline which are coming to close later this year, and a lot of those evaluation numbers are going to be higher.' According to LSEG data, the value of announced M&A transactions with any MENA involvement reached $66.4 billion during the first three months of 2025, boosted by ADNOC and OMV's agreements to merge chemicals firms Borouge and Borealis and to acquire Canada's Nova Chemicals. The number of deals announced in the region increased 22% to 322 in the quarter, the highest level in three years. HSBC was involved in four deals during this period, valued at a total of $3.16 billion. (Reporting by Bindu Rai, editing by Seban Scaria)
Zawya
22-05-2025
- Business
- Zawya
Egypt's EFG Holding says Q1 revenue fell 34% after previous FX gain
CAIRO - Egyptian financial services company EFG Holding's revenue declined by an annualised 34% in the first quarter, due to an exceptional foreign currency gain in the same period of 2024, the company said on Wednesday. Revenue fell to 5.6 billion Egyptian pounds ($112.45 million), while net profit after taxes and minority interests fell 34% to 1.2 billion pounds in the quarter. Egypt in March 2024 devalued its currency to around 50 Egyptian pounds to the dollar from the previous 30 pounds, part of a $8 billion financial support programme agreed with the International Monetary Fund. "We've had a good quarter operationally," Chief Financial Officer Mohamed AbdelKhabir told Reuters. "All of our business lines are doing well. EFG Hermes, the investment bank, is doing quite well. We've closed a couple of very important deals on the investment banking side." These were an initial public offering in January of Saudi technology company Nice One Beauty Digital Marketing and an $2.84 billion offering in February of a 4% stake in the UAE's ADNOC Gas. AbdelKhabir said the company had gained last year from the devaluation of the Egyptian pound because they had foreign exchange from operations abroad. ($1 = 49.8000 Egyptian pounds)
