Latest news with #Dh8.3
Al Etihad
2 days ago
- Business
- Al Etihad
ADNOC listed companies harness AI to accelerate growth, deliver long-term value
14 Aug 2025 19:45 ABU DHABI (WAM) ADNOC Group's six publicly listed companies have accelerated the integration of advanced Artificial Intelligence (AI) technologies across their operations, driving growth and boosting operational strategic focus in embedding AI was matched by strong financial performance, with the companies posting a combined net profit of $4.7 billion (Dh17.3 billion) for the first half of 2025, underscoring the strength of ADNOC's diversified portfolio and focus on value the core of this transformation is MEERAi, ADNOC's proprietary AI tool, which empowers boardrooms with real-time, data-driven insights for sharper, faster decision-making. Across ADNOC Gas, ADNOC Distribution, ADNOC Drilling, ADNOC Logistics & Services, Fertiglobe, and Borouge, AI is streamlining operations, reducing emissions, and elevating customer AI-driven initiatives reinforce ADNOC's position as a progressive global energy company committed to harnessing the power of Gas achieved a record net income of $1.385 billion (Dh5.1 billion) for Q2 2025, up 16% year-on-year, with EBITDA rising 8% to $2.256 billion (Dh8.3 billion), driven by strong local demand and operational Board approved an interim dividend of $1.792 billion (Dh6.6 billion), up 5%, which is payable in expenditure increased 49% year-on-year, with significant progress on strategic projects, including taking a Financial Investment Decision on Phase 1 of the $5 billion Rich Gas Development (RGD) its MSCI inclusion in June, ADNOC Gas is set to join the FTSE Index in September, with anticipated inflows with market estimates of added inflows of over $200 million (Dh734 million).ADNOC Distribution delivered strong Q2 results ahead of market expectations, contributing to a double-digit earnings growth in reached $566 million (Dh2.08 billion), up 10% year-on-year, while net profit rose 12.2% to $358 million (Dh1.32 billion) driven by record H1 fuel volumes and 15% gross profit increase in its non-fuel retail company added 47 new service stations in H1, raising its full-year target to 60–70, with the majority planned in Saudi Distribution also expanded its international footprint with the launch of its Voyager lubricant line in Egypt, now exported to over 47 countries. AI-enabled enhancements in fuel forecasting, product assortment and personalised services continue to advance its digital transformation. The Company expects to distribute 10.285 fils per share dividend for H1 2025 in October Drilling reported record first-half 2025 results, with revenue increasing 30% year-on-year to $2.37 billion (Dh8.71 billion). EBITDA rose 19% year-on-year to $1.08 billion (Dh3.97 billion), and net profit grew 21% year-on-year to $692 million (Dh2.54 billion).The company announced new contract awards worth $4.8 billion (Dh17.63 billion) in the period, securing long-term earnings visibility to 2040 and Drilling's Board of Directors approved a second quarterly dividend of $217 million for 2025, reaffirming its commitment to delivering progressive and reliable shareholder 2025 guidance was upgraded, with revenue now expected between $4.65 – 4.80 billion and net profit between $1.375 – 1.45 Logistics & Services reported record Q2 2025 results, with revenue rising 40 % year-on-year to $1.26 billion (Dh4.62 billion) and EBITDA increasing 31% to $400 million (Dh1.47 billion), driven by strong performance across its Integrated Logistics, Shipping and Marine Services segments. The results underscore the strength of ADNOC L&S's diversified business model, which continues to deliver value amid global market confidence in its long-term growth trajectory and strategic expansion, the company raised its 2025 revenue, EBITDA and net income guidance. ADNOC L&S expects its 2025 annual dividend to grow by 5 % to $287 million, in line with its progressive dividend delivered strong Q2 and H1 results, with revenues up 14% and 20% year-on-year, and adjusted EBITDA up 26% and 36%, respectively. Adjusted net profit for H1 is down 18% however, it would have been +3.5x times, excluding one-off FX gains in its commitment to shareholder value, Fertiglobe proposed at least $100 million in H1 dividends, and executed $31 million in share buybacks in Q2 only, with total shareholder return totalling $131 or 6% on an annualised remains committed to its Grow 2030 Strategy, investing in low-carbon ammonia and expanding downstream capabilities, including the proposed acquisition of Wengfu Australia's distribution posted Q2 net profit of $193 million, supported by strong margins and the early completion of its largest-ever plant turnaround. Adjusted EBITDA reached $440 million, with H1 EBITDA totaling $1.0 billion, reflecting operational resilience despite softer market company has reaffirmed its intention to increase its dividend to 16.2 fils per share for 2025, with an interim dividend of 8.1 fils per share to be paid in September, subject to shareholder approval at the upcoming General Assembly on 29th August. The increased dividend is expected to serve as the intended minimum share payout until at least 2030 under Borouge Group International, subject to relevant for the proposed new entity are on track to close in Q1 2026, with regulatory filings and integration planning continued advancing its innovation agenda, delivering $307 million in value through its AI, Digitalisation and Technology programme, including the launch of an AI-powered control room with Honeywell and the integration of ADNOC's innovation highlights included new medical-grade polyolefins and recyclable packaging solutions.
Al Etihad
24-04-2025
- Business
- Al Etihad
Dubai Chamber of Commerce launches Peruvian Business Council
24 Apr 2025 18:58 DUBAI (WAM)In the presence of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Dubai Chamber of Commerce – one of the three chambers operating under Dubai Chambers – has announced the establishment of the Peruvian Business new council is dedicated to expanding cooperation between the business communities in Dubai and Peru, deepening trade and investment ties, and promoting bilateral partnerships across all announcement came during the inaugural annual general meeting of the Peruvian Business Council, which took place at Dubai Chamber's launch brings the total number of Business Councils operating under the Dubai Chamber of Commerce umbrella to 61. These councils represent the interests of businesses and investors from specific countries operating in Dubai and contribute to enhancing economic cooperation with key markets across the Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, commented, 'The establishment of the Peruvian Business Council reflects our ongoing commitment to strengthening mutual economic and trade relations with countries around the world. It also highlights the vital role played by the Business Councils operating under the umbrella of Dubai Chamber of Commerce in enhancing investment cooperation and stimulating the growth of Dubai's non-oil foreign trade.'The meeting outlined the council's priorities and plans, in addition to its upcoming programme of events and activities. Participants also discussed strategies to elevate economic cooperation between Dubai and launch of the Peruvian Business Council reflects Dubai's growing appeal as a hub for Peruvian companies and investors. The value of non-oil trade between Dubai and Peru exceeded Dh8.3 billion in 2024, representing remarkable year-over-year growth of 91% and underlining the strength of bilateral trade ties. By the end of Q1 2025, a total of 23 Peruvian companies were registered as active members of Dubai Chamber of Commerce. The country-specific Business Councils operating under Dubai Chamber of Commerce collaborate closely with the chamber to boost bilateral trade and investments. They facilitate stronger ties between Dubai-based companies and businesses from the markets represented, with the goal of strengthening strategic economic partnerships.
Khaleej Times
11-03-2025
- Business
- Khaleej Times
FAB shareholders approve highest-ever cash dividend of Dh8.3 billion
First Abu Dhabi Bank (FAB) on Tuesday announced the distribution of Dh8.3 billion in cash dividends for the financial year ending 31 December 2024 (75 fils per share). Shareholders registered on 21 March 2025 (i.e., those purchasing shares on or before 19 March 2025) will be eligible for the cash dividends, the bank said. FAB's profit before tax increased by 13 per cent year on year, reaching Dh19.9 billion, driven by higher client activity, strong business volumes, diversified income streams, and continued operational efficiencies. This strong performance positions FAB for continued success and growth, reflecting its ability to capitalize on market opportunities and deliver sustained value to its shareholders. The bank has made major strides in expanding its presence across 20 global markets, fostering stronger client relationships in key economic centers. This expansion has fuelled growth in customer deposits and loans, resulting in double-digit revenue increases across the GCC, North Africa, Asia, and Europe & Americas. Complementing this geographic growth, FAB has strategically invested in talent, advanced systems, and invested in innovative technologies, all while maintaining a disciplined risk management approach. In 2024, FAB launched its AI Innovation Hub with Microsoft, further accelerating AI adoption in banking by forming key partnerships with global AI leaders, including Microsoft, G42, and Presight. The bank's digital growth is evident, with a 46 per cent increase in digital transactions and over 96 per cent of service requests now processed digitally. Sheikh Tahnoon Bin Zayed Al Nahyan, Chairman of FAB, said: 'FAB's performance in 2024 cements consecutive years of expanded scale and improved profitability, demonstrating steady progress against our group strategy as the UAE's global bank, expanding capabilities and driving sustainable growth. The bank's strong performance reflects also the resilience of the national economy and the country's position as a leading global financial hub. FAB has played to its unique strengths at home to extend its position as the undisputed market leader in the UAE, while leveraging the competitive advantage of an international franchise that connects clients to the vast majority of the UAE's trade flows.' 'Being the bank best able to support the bold growth and investment plans of an ambitious country has transformed FAB from a domestic giant into a global financial powerhouse. Looking ahead, FAB will remain vital to driving the UAE leadership's future vision, fostering sustainable growth and innovation, and connecting local, regional, and international economies within a world-class financial ecosystem.' 'In 2024, we achieved a net profit of Dh17.1 billion and a revenue of Dh31.6 billion. Profit before tax was up 13 per cent to Dh19.9 billion, and we continued to deliver greater value to our clients in line with our strategic goals as the UAE's global bank. 'Looking ahead, our solid balance sheet fundamentals and diversified business model position us well to continue to deliver profitable growth and achieve our return targets. We will continue to invest in talent, technology and innovation to enhance our services, drive efficiencies and grow our competitive edge. In doing so, we will sharpen our focus on consistently delivering strong, sustainable shareholder returns firmly aligned with medium term guidance of above 16 per cent'. In addition to approving the Board of Directors report, the external auditors report and Internal Shariah Supervision Committee annual reports for FY 2024, the AGM agenda included notifications on payable Zakat for 2024, approval of the bank's balance sheet and profit and loss statement for 2024, and appointments for auditors and Internal Shariah Supervision Committee members for 2025.
