Latest news with #AdnocGas'
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.
Gulf Today
24-03-2025
- Business
- Gulf Today
Adnoc Gas shareholders approve record $3.41 billion dividend for 2024
Adnoc Gas and its subsidiaries confirmed shareholder approval at its Annual General Meeting (AGM) to distribute $3.41 billion in full-year dividends for 2024, including a final dividend payment of $1.706 billion scheduled for distribution in the second quarter of 2025. Dr. Sultan Ahmed Al Jaber, Chairman of Adnoc Gas' Board of Directors, commented, 'In 2024, we achieved record financial results, advanced major growth projects and declared the largest dividend payment on the ADX, while continuing to capitalise on robust market fundamentals to deliver a total return to shareholders of 19 per cent. 'As the world increasingly turns to natural gas and LNG, particularly in Asia, we further strengthened our position as a critical enabler of global energy security and a key contributor to the UAE's economic growth and industrial development. Adnoc Gas remains uniquely positioned to unlock further growth while supporting the transformation of global energy systems.' Adnoc Gas delivered strong financial results in 2024, reporting a record adjusted net income of $5 billion, up an impressive 13 per cent year-on-year, and strong Ebitda growth of 14 per cent year-on-year to $8.65 billion, with a high, stable Ebitda margin of 35 per cent with free cash flow of $4.58 billion. Adnoc Gas' robust full-year 2024 results demonstrate the success of its disciplined strategy, unveiled in November 2024. The strategic update outlined investments of $15 billion in growth opportunities designed to meet the escalating global demand for natural gas and drive a projected 40 per cent increase in Ebitda by 2029 from a 2023 baseline. This will be achieved through an expected 30 per cent increase in the company's gas processing capacity as Adnoc expands its upstream production capacity. The AGM follows the completion of Adnoc's recent marketed offering of 3.1 billion shares in Adnoc Gas - the largest share placement ever on the ADX and the largest secondary offering in the UAE at $2.84 billion. As a result of the completed offering, Adnoc Gas has expanded its shareholder base and anticipates potential inclusion in the MSCI and FTSE indices as early as this year. Earlier Adnoc Drilling Company confirmed shareholders' approval of all agenda items at its Annual General Meeting (AGM), including the distribution of its final cash dividend payment for the year ended 31st December 2024. Adnoc Drilling's full-year revenue increased significantly to a record $4.034 billion, rising by 32 per cent year-on-year and its full-year Ebitda reached a record high of $2.01 billion, up 36 per cent year-on-year. Since the Company's listing on ADX in 2021, its net profit for the full year has more than doubled, culminating in $1.30 billion in 2024.
Khaleej Times
24-03-2025
- Business
- Khaleej Times
Adnoc Gas shareholders approve record $3.41 billion dividend for 2024
Adnoc Gas plc and its subsidiaries on shareholder approval at its annual general meeting to distribute $3.41 billion in full-year dividends for 2024, including a final dividend payment of $1.706 billion scheduled for distribution in the second quarter of 2025. Adnoc Gas delivered strong financial results in 2024 reporting record adjusted net income of $5 billion, up an impressive 13 per cent year-on-year, and strong Ebitda growth of 14 per cent year-on-year to $8.65 billion, with a high, stable Ebitda margin of 35 per cent with free cash flow of $4.58 billion. Adnoc Gas' strategic update, unveiled in November 2024, outlined investments of $15 billion in growth opportunities designed to meet the escalating global demand for natural gas and drive a projected 40 per cent increase in Ebitda by 2029 from a 2023 baseline. This will be achieved through an expected 30 per cent increase in the company's gas processing capacity as Adnoc expands its upstream production capacity. The AGM follows the completion of Adnoc's recent marketed offering of 3.1 billion shares in Adnoc Gas – the largest share placement ever on the ADX and the largest secondary offering in the UAE at $2.84 billion. As a result of the completed offering, Adnoc Gas has expanded its shareholder base and anticipates potential inclusion in the MSCI and FTSE indices as early as this year. Dr Sultan Ahmed Al Jaber, Chairman of Adnoc Gas' Board of Directors, commented: 'In 2024, we achieved record financial results, advanced major growth projects and declared the largest dividend payment on the ADX, while continuing to capitalize on robust market fundamentals to deliver a total return to shareholders of 19 per cent. As the world increasingly turns to natural gas and LNG, particularly in Asia, we further strengthened our position as a critical enabler of global energy security and a key contributor to the UAE's economic growth and industrial development. Adnoc Gas remains uniquely positioned to unlock further growth while supporting the transformation of global energy systems.'
Trade Arabia
24-03-2025
- Business
- Trade Arabia
Adnoc Gas shareholders approve $3.41bn dividend for 2024
Adnoc Gas has confirmed shareholder approval at its Annual General Meeting (AGM) to distribute $3.41 billion in full-year dividends for 2024, including a final dividend payment of $1.706 billion scheduled for distribution in the second quarter of 2025. Dr Sultan Al Jaber, Chairman of Adnoc Gas' Board of Directors, commented: 'In 2024, we achieved record financial results, advanced major growth projects and declared the largest dividend payment on the ADX, while continuing to capitalise on robust market fundamentals to deliver a total return to shareholders of 19 per cent. As the world increasingly turns to natural gas and LNG, particularly in Asia, we further strengthened our position as a critical enabler of global energy security and a key contributor to the UAE's economic growth and industrial development. Adnoc Gas remains uniquely positioned to unlock further growth while supporting the transformation of global energy systems.' Adnoc Gas delivered strong financial results in 2024 reporting record adjusted net income of $5 billion, up an impressive 13 per cent year-on-year, and strong EBITDA growth of 14 per cent year-on-year to $8.65 billion, with a high, stable EBITDA margin of 35 per cent with free cash flow of $4.58 billion. Adnoc Gas' robust full-year 2024 results demonstrate the success of its disciplined strategy, unveiled in November 2024. The strategic update outlined investments of $15 billion in growth opportunities designed to meet the escalating global demand for natural gas and drive a projected 40 per cent increase in EBITDA by 2029 from a 2023 baseline. This will be achieved through an expected 30 per cent increase in the company's gas processing capacity as Adnoc expands its upstream production capacity.
Trade Arabia
06-02-2025
- Business
- Trade Arabia
Adnoc Gas delivers record $5bn net income for 2024
Adnoc Gas has announced record earnings for the full year (FY) 2024 of $5 billion, and its highest quarterly income of $1.38 billion since its IPO, significantly ahead of the Bloomberg consensus for both periods. Fatema Al Nuaimi, Chief Executive Officer of Adnoc Gas, said: 'Our record-breaking fourth quarter results demonstrate our ability to deliver on our ambitious growth strategy as we seek to realise EBITDA growth of over 40 per cent by 2029. Adnoc Gas' evolution into one of the highest income generating companies listed in the UAE, which is a testament to our commitment to create long-term and sustainable value for our shareholders, as we invest in growth projects to meet the growing demand for lower carbon Domestic Gas, LPG and LNG, both locally and globally as key fuels in the energy transformation.' FY AND Q4 2024 RESULTS For the full year period, adjusted net income increased by an impressive 13 per cent year-on-year to $5 billion. The company's strong performance was underpinned by robust demand for domestic gas which supported volume growth and improved pricing. Total sales volumes in FY 2024 increased by 2 per cent to 3,616 million MMBTU. This increase in volume was enabled by a 13 per cent increase in the Adnoc LNG (ALNG) joint venture contribution. Adjusted revenues increased by 7 per cent YoY in FY 2024 to $24.43 billion driven by a 2 per cent increase in sales volume and improved pricing. The company's strong top line performance for 2024 translated into a strong EBITDA growth of 14 per cent to $8.65 billion with a high, stable margin of 35 per cent. Free cash flow for the period reached an impressive $4.58 billion, reflecting the company's strong cash conversion capabilities. The company's stellar fourth quarter results reflect the ongoing disciplined execution of its updated strategy that was unveiled after Q3 2024. The plan targets an increase of over 40 per cent in EBITDA by 2029 and entails capital expenditure (CAPEX) of up to $15 billion for the 2025-2029 period, which includes the acquisition of Adnoc's 60 per cent share of the lower-carbon intensity Ruwais liquefied natural gas (LNG) project at cost in H2 2028. Adnoc Gas delivered adjusted revenues of $6.06 billion, EBITDA of $2.28 billion and net income of $1.381 billion in the fourth quarter of 2024. The robust improvement was driven by several factors including a richer mix of gas, producing more liquids, and improved commercial terms in the domestic market. For the financial year 2024, Adnoc Gas confirms its dividend of $3.412 billion, of which an interim cash dividend of $1.706 billion was paid in September 2024 and an additional $1.706 billion is expected to be paid in April 2025, pending approval at the Annual General Meeting (AGM). The final dividend for FY 2024 is in line with the company's robust policy to increase the annual dividend by 5 per cent annually and reflects the company's strong free cash flow, which exceeds the dividend commitment by over $1 billion.
