Latest news with #AdnocGas
Trade Arabia
4 days ago
- Business
- Trade Arabia
Adnoc Gas joins MSCI Emerging Market Index
Adnoc Gas will be the largest addition to the Index by market capitalisation and joins Adnoc Distribution and Adnoc Drilling which were added to the benchmark in 2021 and 2024, respectively. The company's inclusion follows its successful $2.84 billion marketed offering of 3.1 billion shares in February, which increased the number of shares available to the public by 80% and helped the stock successfully meet key eligibility criteria for entry into the Index. This marks a significant milestone in the Adnoc Gas's ongoing efforts to enhance its global investment profile, attract a broader and more diversified investor base and improve liquidity of its shares. Through their inclusion in the MSCI Index, the three Adnoc Group companies collectively raise both Adnoc's and the Abu Dhabi Securities Exchange's (ADX) global investment profile, while enhancing liquidity in the UAE market and further cementing the UAE's position as an attractive destination for foreign investment. As with Adnoc Distribution and Adnoc Drilling's addition to the Index, Adnoc Gas experienced a surge in trading on the final day before its index inclusion, attracting $469 million in capital inflows. The inclusion of Adnoc Gas in the Index also marks another milestone in Adnoc's efforts to foster growth of the UAE's capital market, which began in 2017 with the public listing of Adnoc Distribution on the ADX. Since then, Adnoc has brought another five of its subsidiaries to the public market, with a current combined market cap of around $140 billion.
Gulf Today
26-05-2025
- Business
- Gulf Today
Adnoc's listed firms post strong results with over $2.3 billion net profit
Adnoc Group's publicly traded portfolio companies combined to deliver over $2.3 billion (Dhs8.4 billion) in first quarter (Q1) net profit, reflecting their resilient business models and ability to generate robust profits in evolving market conditions. 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 (Dhs639 million), up 16 per cent 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 (Dhs2.57 billion) equivalent to (20.57 fils per share) or at least 75 per cent of net profit, whichever is higher, through 2028. Adnoc Drilling reported strong first quarter results with revenue up 32 per cent to $1.17 billion (Dhs4.30 billion) year-on-year (y-o-y), EBITDA up 22 per cent to $533 million (Dhs1.96 billion) y-o-y and net profit increasing 24 per cent to $341 million (Dhs1.30 billion) y-o-y. The company also announced new contract awards worth over $2.4 billion (Dhs8.8 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 (Dhs796 million) for the first quarter of 2025. For 2025, Adnoc Drilling expects to deliver revenues between $4.60 - 4.80 billion (Dhs16.9 - 17.6 billion) and net profit between $1.35 - 1.45 billion (Dhs4.95 - 5.32 billion). Adnoc Gas reported a net income of $1.27 billion (Dhs4.7 billion) for Q1 2025, up 7 per cent year-on-year, and EBITDA of $2.16 billion (Dhs7.9 billion), up 4 per cent 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 per cent between 2023 and 2029. Significant LNG supply agreements worth $9 billion (Dhs30.24 billion) were signed with Indian Oil Corporation and JERA Global Markets, and capital expenditures increased by 43 per cent 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 (Dhs1.0 - 1.8 billion) and attract more international institutional investors. Adnoc Logistics & Services (Adnoc L&S) reported strong Q1 2025 financial results with a 41 per cent increase in revenue to $1.2 billion (Dhs4.34 billion) and a 20 per cent rise in EBITDA to $344 million (Dhs1.26 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 per cent in line with its progressive dividend policy. Borouge reported strong Q1 2025 results with net profit of $281 million (Dhs1.03 billion), driven by year-on-year increases of 10 per cent for sales volumes and 7 per cent for production volumes. Revenue grew by 9 per cent year-on-year to $1.42 billion (Dhs5.21 billion), with EBITDA of $564 million (Dhs2.07 billion), maintaining industry-leading margins of 40 per cent. 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 per cent and adjusted EBITDA rising 45 per cent year over year. Adjusted net profit would have been up 306 per cent 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. WAM
Gulf Today
14-05-2025
- Business
- Gulf Today
Adnoc Gas joins MSCI index, boosts its investment profile
Adnoc Gas and its subsidiaries on Wednesday announced that its shares have been selected for inclusion in the MSCI Emerging Markets Index after successfully meeting the MSCI's established eligibility criteria. The inclusion will take effect on 2nd June 2025. The MSCI Emerging Markets Index serves as a benchmark for the performance of prominent large and mid-cap publicly listed companies in 24 emerging market countries. Adnoc Gas admitted to the Index, and its inclusion marks a significant milestone in the company's ongoing efforts to enhance its global investment profile. The development is set to increase the company's visibility among international institutional investors, which could improve passive cash inflows by between $300 to $500 million and facilitate a more diversified investor base. Fatema Mohamed Al Nuaimi, Chief Executive Officer at Adnoc Gas, said, 'We are delighted that Adnoc Gas has been included in the MSCI Emerging Market Index. The inclusion supports our ambition to attract a broader and more diversified base of institutional investors and should drive greater liquidity in Adnoc Gas stock.' Al Nuaimi added that the recent $2.84 billion marketed offering, which increased the company's free float by 80 per cent, has already led to a sixfold rise in average daily trading volume. She highlighted that the continued strategic focus on growth is expected to deliver additional value for shareholders through 2025 and beyond. Adnoc Gas' exceptional performance since its 2023 listing is a result of disciplined execution of its growth strategy, which includes a commitment to invest $15 billion in attractive opportunities from 2025 to 2029. The company has a robust pipeline of growth initiatives, including major projects aimed at enhancing its position as a leading global supplier of gas. The strategy aims to deliver a 40 per cent increase in Ebitda between 2023 and 2029, supported by a diversified portfolio of projects designed to maximise value creation. With greater exposure to institutional investors, Adnoc Gas is well-positioned to benefit from increased liquidity, deeper market penetration, and enhanced stock visibility. The company anticipates that the inclusion should result in higher trading volumes and improved investor engagement, further solidifying its position as a leading energy player in the global market. Additionally, Adnoc Gas' efforts to increase the free float, along with its growing strategic investments, should support its long-term goal of enhancing shareholder returns. Adnoc Gas and its subsidiaries, a world-class integrated gas processing and sales company, on Monday announced net income of $1.27 billion and Ebitda of $2.16 billion for the first quarter of 2025, exceeding the equivalent quarter in 2024 by 7 per cent and 4 per cent respectively. The performance was driven firstly by continued demand for domestic gas - up on the equivalent quarter last year - as a result of strong economic growth in the UAE, which lifted the total sales volume.
The National
14-05-2025
- Business
- The National
Three companies bolster UAE presence on MSCI emerging markets index
UAE companies Adnoc Gas, Salik and Dewa are among new entities set to be included in the MSCI Emerging Markets Index next month, in a move that is expected to help them broaden their investor base. The additions will take effect after markets close on Friday, May 30, MSCI said on Tuesday. MSCI's Emerging Markets Index is tracked by investors managing trillions of dollars in assets. The benchmark is designed to measure the performance of large and mid-cap stocks across 24 emerging markets and has more than 1,320 constituents. Index inclusion usually supports increased liquidity for a company's shares and can help to attract more regional and global institutional investors. Along with Adnoc Gas, Dubai toll operator Salik and the Dubai Electricity and Water Authority were among the 30 new additions globally to the MSCI index. Adnoc Gas is the third Adnoc company to be admitted to the index, after the inclusion of Adnoc Distribution and Adnoc Drilling. Other UAE companies that are already part of the index include First Abu Dhabi Bank, Emaar Properties, e&, Emirates NBD, Aldar Properties and Abu Dhabi Commercial Bank. The inclusion will help Adnoc Gas to "improve passive cash inflows by between $300 million to $500 million and facilitate a more diversified investor base", the company said in a statement on Wednesday to the Abu Dhabi Securities Exchange, where its shares are traded. 'The recent $2.84 billion marketed offering, which increased the company's free float by 80 per cent, has already led to a six-fold rise in average daily trading volume, and we are confident that our continued strategic focus on growth will deliver further value for shareholders through 2025 and beyond,' said Fatema Al Nuaimi, chief executive at Adnoc Gas. Adnoc Gas, which operates across the gas value chain, from processing to the sale of products to domestic and international customers, has customers in more than 20 countries. It meets about 60 per cent of the UAE's gas needs. The company, which reported a 7 per cent year-on-year increase in net income for the first quarter of 2025, aims to invest $15 billion in attractive opportunities from 2025 to 2029, it said. Meanwhile, Salik said its inclusion in the index follows the execution of its updated strategy since its implementation last year, enabling it to meet the necessary market capitalisation, free float-adjusted market capitalisation and liquidity requirements. 'MSCI's UAE Index offers global investors ease of access and a compelling opportunity to capitalise on the UAE's thriving equity market," said Ibrahim Al Haddad, chief executive of Salik. The company's net profit for the first quarter increased 33.7 per cent year-on-year to Dh370.6 million ($100.91 million), while revenue also rose 33.7 per cent to Dh751.6 million. In the first three months of 2025, the toll operator said it recorded 210.8 million trips, up 35 per cent annually, as the number of vehicles on the roads in Dubai also rose. It has launched two new toll gates in Dubai, taking the total number to 10 and introduced dynamic pricing, which is expected to drive additional revenue for the business, Salik said on Wednesday. "Alongside core tolling, Salik is expanding ancillary revenue streams including parking solution partnerships with Emaar Malls and Parkonic, and a first-of-its-kind insurance partnership with Liva," it added. Dewa's inclusion in the index "reinforces our growing relevance on the global investment stage", Saeed Al Tayer, vice chairman, managing director and chief executive of Dewa, said. Dewa, the largest listed company on the Dubai Financial Market with a market capitalisation exceeding Dh130 billion, reported a 23 per cent drop in annual profit for the first quarter to Dh497.8 million, despite posting a 3 per cent rise in revenue. "As a new constituent, Dewa is expected to benefit from increased visibility, enhanced trading liquidity and passive inflows from index-linked investment products," the utility said.
Trade Arabia
14-05-2025
- Business
- Trade Arabia
Adnoc Gas joins MSCI Emerging Markets Index
Adnoc Gas has been admitted to the MSCI Emerging Markets Index, marking a significant milestone in the company's global investment profile. The inclusion, effective on June 2, 2025, will increase the company's visibility among international institutional investors, potentially improving passive cash inflows by $300 to $500 million and facilitating a more diversified investor base. This marks the third Adnoc company to be admitted to the Index, which serves as a benchmark for large and mid-cap publicly listed companies in 24 emerging market countries. Fatema Mohamed Al Nuaimi, Chief Executive Officer at Adnoc Gas, added: 'We are delighted that AdnoC Gas has been included in the MSCI Emerging Market Index. The inclusion supports our ambition to attract a broader and more diversified base of institutional investors and should drive greater liquidity in Adnoc Gas stock. The recent $2.84 billion marketed offering, which increased the Company's free float by 80%, has already led to a sixfold rise in average daily trading volume, and we are confident that our continued strategic focus on growth will deliver further value for shareholders through 2025 and beyond.'
