Latest news with #DOCO
Khaleej Times
2 days ago
- Automotive
- Khaleej Times
UAE: Higher fuel sales, expansion boost Adnoc's net profit by over 12% in H1 2025
Adnoc Distribution on Tuesday reported $358 million net profit for the first half of 205, an increase of 12.2 per cent year on year, on the back of higher fuel sales and network expansion. 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.
Arabian Business
2 days ago
- Business
- Arabian Business
Largest-ever fuel volumes spur ADNOC Distribution's H1 net profit by 12%
UAE's largest fuel and convenience retailer ADNOC Distribution reported double-digit growth in its EBITDA and net profit for the first half of 2025, during which it achieved record fuel volumes of 7.62 billion litres, up 5.6 per cent YoY, and a 14.9 per cent jump in non-fuel retail business. Exceeding analyst expectations, the company achieved its highest-ever first-half EBITDA of US$566 million, up 10.0 per cent YoY, and a 12.2 per cent YoY increase in net profit to US$358 million. Non-fuel retail business continues to drive strong growth, with a 10.4 per cent YoY rise in transactions for the first half of 2025. The 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. ADNOC Distribution added 47 new service stations in the first half of 2025, bringing its total network to nearly 940. A majority of the new stations are in Saudi Arabia, where the company is successfully leveraging its CAPEX-light Dealer Owned-Company Operated (DOCO) business model. The model has enabled ADNOC Distribution to double its Saudi network YoY, from 69 to 140 stations. Building on this momentum, ADNOC Distribution has revised its expansion guidance upwards to 60-70 new stations by the end of 2025, with 50-60 of these located in Saudi Arabia. Bader Saeed Al Lamki, CEO of ADNOC Distribution, commented: 'Our strong H1 2025 results demonstrate the successful execution of our 2024-28 growth strategy, driven by operational excellence and customer-focused innovation. 'The sustained growth in EBITDA and net profit highlights our ability to scale effectively, drive value creation, and expand our leadership in mobility and convenience retail. By leveraging advanced technologies, unlocking new operational efficiencies, and bringing our commitment to quality to more communities than ever before, we are well-positioned to deliver sustainable, long-term growth.' With a net debt to EBITDA ratio of 0.80x at the end of H1 2025, the company said it expected an annual payout of US$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 AED3.70 as of 6 August, it represented an annual yield of nearly 6 per cent. ADNOC Distribution has embraced advanced AI technologies to drive growth and operational efficiency. By leveraging innovations such as predictive fuel demand models, intelligent assortment, and hyper-personalised offerings, the company said it was 'transforming its operations while enhancing customer satisfaction across its value chain'. During the first half of the year, ADNOC Distribution's E2GO fast- and super-fast EV charging network reached the milestone of over 300 charging points installed across the UAE. The company aims to grow the network to 500+ charging points by 2028, and said it is on track to meet its target of adding 100 new charging points by the end of 2025.
Al Bawaba
11-07-2025
- Business
- Al Bawaba
Turkish Airlines is the Best Airline in Europe for the Tenth Time
Turkish Airlines, the airline that flies to more countries than any other, has once again asserted its leadership in the aviation industry, earning the prestigious Best Airline in Europe award at the 2025 Skytrax World Airline Awards for the tenth time. The ceremony, widely regarded as the Oscars of the Aviation Industry, was held at the historic Air and Space Museum in Paris on 17 chosen as the Best Airline in Southern Europe, Türkiye's national flag carrier was recognized with several other prestigious awards. Turkish Airlines received the World's Best Business Class Onboard Catering, Best Business Class in Europe, Best Business Class in Southern Europe and Best Business Class Onboard Catering in Europe awards, reflecting its superior service in premium cabins. The carrier also earned the Best Economy Class in Europe and Best Economy Class Onboard Catering in Europe titles, underlining its dedication to providing a high-quality travel experience across all service classes. These accolades, totaling eight once again reaffirm Turkish Airlines' strong position in the global aviation sector and its leadership in the awards are granted based on the direct feedback of millions of international passengers, making them a true benchmark of passenger satisfaction. The continued recognition of Turkish Airlines' superior service quality, unparalleled flight network, and exceptional inflight dining experiences crafted with its catering partner Turkish DO&CO demonstrates the airline's unwavering commitment to its on the accolades, Turkish Airlines Chairman of the Board and the Executive Committee Prof. Ahmet Bolat stated: 'To be recognized once again as the Best Airline in Europe by our valued guests is a source of immense pride for the entire Turkish Airlines family. This achievement, along with other awards, is a testament to the relentless effort and passion of our team. We are driven by our timeless tradition of Turkish hospitality, and we sincerely thank our guests and the Skytrax organization for affirming our commitment to excellence. We will continue to elevate the travel experience for our guests across our ever-expanding global network.'Skytrax CEO Edward Plaisted added: 'We are delighted to see Turkish Airlines recognized with eight awards at the 2025 World Airline Awards, including Best Airline in Europe, Best Business Class Catering and Best Airline in Southern Europe. Turkish Airlines continues to deliver a carefully crafted product that resonates strongly with passengers - from the warmth of its hospitality to the quality of its onboard dining. These results reaffirm the airline's standing as a leading carrier in the region and a consistent presence in the global top tier.' With a continually expanding route network that spans six continents and holds a Guinness record for most countries flown by an airline, Turkish Airlines embodies the spirit of Turkish hospitality while remaining at the forefront of sustainability and technological innovation in aviation. The airline's growing global footprint ensures that it will continue to set industry standards for years to come.
