Latest news with #ADNOCLogisticsandServicesplc
Al Etihad
20-05-2025
- Business
- Al Etihad
ADNOC L&S partners with REGENT to trial high-speed electric seagliders for offshore transportation
20 May 2025 16:46 ABU DHABI (WAM)ADNOC Logistics and Services plc (ADNOC L&S), a global energy maritime logistics leader, has selected US-based REGENT's electric seaglider for a proof-of-concept trial to assess the craft's suitability for transporting personnel to and from offshore energy announcement was made at the 'Make it in the Emirates' event, currently taking place in Abu 'Viceroy' seaglider – a next-generation maritime craft – combines the speed of an aircraft with the convenience of a boat, offering high-speed, zero-emission proof-of-concept is the first phase in a potential multi-stage deployment that could see the technology incorporated more widely across ADNOC L&S's offshore logistics will manufacture its electric seagliders in the UAE. It will also provide aftermarket services such as maintenance, boosting local manufacturing capabilities and strengthening the UAE's industrial base. The proof-of-concept trial will also be managed by a UAE-based seaglider operator, delivering additional in-country value and positioning the UAE as a hub for advanced maritime Abdulkareem Al Masabi, CEO of ADNOC L&S, said, 'ADNOC L&S is committed to adopting innovative technologies that enhance the safety, sustainability and efficiency of our operations. This proof-of-concept trial with REGENT's seagliders marks an important milestone in our journey to decarbonise offshore logistics, while supporting 'Make it in the Emirates' through the development of future-ready maritime capabilities in the UAE.'The Viceroy can carry up to 12 passengers or 1,600 kilograms of cargo and is capable of speeds up to 300 kilometers per hour (180mph) for routes up to 300km. Its ability to operate in multiple modes – floating, foiling and flying – offers unique versatility and comfort for offshore with helicopters, the craft provides up to 80% lower operational costs and is equipped with advanced sensors and automated controls to ensure safe and reliable Thalheimer, Co-founder and CEO of REGENT, said, 'REGENT could ask for no better end user for seagliders in the UAE than the largest energy producer in the country and leader in innovation and sustainability. Seagliders will drastically reduce the time, cost, and emissions of offshore energy logistics, and we look forward to working together to set a new standard for the energy industry.' The proof-of-concept trial aligns with ADNOC Group's broader Net Zero by 2045 ambition and supports the UAE's strategic objectives to foster innovation, sustainability and national industrial growth.
Emirates 24/7
12-02-2025
- Business
- Emirates 24/7
ADNOC L&S announces revenue of $3,549 million in 2024
ADNOC Logistics and Services plc today announced its fourth quarter (Q4) and full-year 2024 financial results, reporting revenue of $3,549 million (AED13,035 million) for the year, up 29 percent compared to 2023. EBITDA rose by 31 percent to $1,149 million (AED4,219 million) in the same period, driven by robust performance across all business segments, sustaining EBITDA margins at 32 percent. Net profit for the year was $756 million (AED2,777 million), equating to $0.10 (AED0.38) per share, an increase of 22 percent compared to the previous year. The Company's Q4 revenue increased by 6 percent year-on-year (y-o-y) to $881 million (AED3,237 million), with EBITDA up by 17 percent y-o-y to $282 million (AED1,035 million). Net profit for Q4 grew 9 percent y-o-y to $180 million (AED660 million). Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said, "We have delivered strong growth in financial returns to shareholders once again in 2024, driven by robust performance across all business segments. This year has been characterised by investing in the internationalisation of our business platform, the addition of new vessel types focused on transition fuels, and the growth of our large integrated logistics business. "Today ADNOC L&S is a larger, stronger, more international business and one of the leading energy maritime logistics companies in the world. Our growth story continues into 2025 and beyond with more than $6 billion highly value-accretive growth opportunities committed since IPO, mostly against long-term contracts." Revenues from the Integrated Logistics segment increased to $2,281 million (AED8,377 million), up 40 percent in FY 2023. The increase was driven by volume growth in the Integrated Logistics Services Platform (ILSP) and strong growth in third-party offshore logistics services; major progression of Engineering, Procurement and Construction (EPC) projects in particular the contribution of the G-Island project; accelerated Hail & Ghasha project delivery; the improved utilisation of, and rates earned for Jack-Up Barges (JUBs), coupled with fleet growth strengthening the GCC expansion. Integrated Logistics' EBITDA rose by 30 percent to $687 million (AED2,522 million) for the full year 2024 against 2023. Revenues from the Shipping segment increased 14 percent to $956 million (AED3,511 million), driven by strong charter rates for Dry Bulk and Tankers in H1 2024, coupled with additional revenue from the four new Very Large Crude Carriers (VLCCs) acquired in 2023; and the LNG vessel "Shahamah" contracted at a higher rate for 2024 compared to 2023; partially offset by a smaller charter-in fleet. Shipping EBITDA increased 24 percent to $396 million (AED1,456 million) for FY 2024, contributing to a three-percentage point expansion in EBITDA margin to 41 percent. Revenues from the Services segment increased 10 percent to $312 million (AED1,147 million) compared to FY 2023. This segment generated an EBITDA of $56 million (AED206 million), up 26 percent y-o-y, mainly powered by increased volumes in petroleum ports and onshore terminal operations. Follow Emirates 24|7 on Google News.
Zawya
12-02-2025
- Business
- Zawya
ADNOC L&S announces revenue of $3,549mln in 2024
ABU DHABI - ADNOC Logistics and Services plc today announced its fourth quarter (Q4) and full-year 2024 financial results, reporting revenue of $3,549 million (AED13,035 million) for the year, up 29 percent compared to 2023. EBITDA rose by 31 percent to $1,149 million (AED4,219 million) in the same period, driven by robust performance across all business segments, sustaining EBITDA margins at 32 percent. Net profit for the year was $756 million (AED2,777 million), equating to $0.10 (AED0.38) per share, an increase of 22 percent compared to the previous year. The Company's Q4 revenue increased by 6 percent year-on-year (y-o-y) to $881 million (AED3,237 million), with EBITDA up by 17 percent y-o-y to $282 million (AED1,035 million). Net profit for Q4 grew 9 percent y-o-y to $180 million (AED660 million). Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said, "We have delivered strong growth in financial returns to shareholders once again in 2024, driven by robust performance across all business segments. This year has been characterised by investing in the internationalisation of our business platform, the addition of new vessel types focused on transition fuels, and the growth of our large integrated logistics business. "Today ADNOC L&S is a larger, stronger, more international business and one of the leading energy maritime logistics companies in the world. Our growth story continues into 2025 and beyond with more than $6 billion highly value-accretive growth opportunities committed since IPO, mostly against long-term contracts." Revenues from the Integrated Logistics segment increased to $2,281 million (AED8,377 million), up 40 percent in FY 2023. The increase was driven by volume growth in the Integrated Logistics Services Platform (ILSP) and strong growth in third-party offshore logistics services; major progression of Engineering, Procurement and Construction (EPC) projects in particular the contribution of the G-Island project; accelerated Hail & Ghasha project delivery; the improved utilisation of, and rates earned for Jack-Up Barges (JUBs), coupled with fleet growth strengthening the GCC expansion. Integrated Logistics' EBITDA rose by 30 percent to $687 million (AED2,522 million) for the full year 2024 against 2023. Revenues from the Shipping segment increased 14 percent to $956 million (AED3,511 million), driven by strong charter rates for Dry Bulk and Tankers in H1 2024, coupled with additional revenue from the four new Very Large Crude Carriers (VLCCs) acquired in 2023; and the LNG vessel "Shahamah" contracted at a higher rate for 2024 compared to 2023; partially offset by a smaller charter-in fleet. Shipping EBITDA increased 24 percent to $396 million (AED1,456 million) for FY 2024, contributing to a three-percentage point expansion in EBITDA margin to 41 percent. Revenues from the Services segment increased 10 percent to $312 million (AED1,147 million) compared to FY 2023. This segment generated an EBITDA of $56 million (AED206 million), up 26 percent y-o-y, mainly powered by increased volumes in petroleum ports and onshore terminal operations.
