Latest news with #Dh8.4
Al Etihad
26-05-2025
- Business
- Al Etihad
ADNOC's listed companies post strong Q1 results with over $2.3 billion net profit
26 May 2025 10:29 ABU DHABI (WAM) ADNOC Group's publicly traded portfolio companies combined to deliver over $2.3 billion (Dh8.4 billion) in first quarter net profit, reflecting their resilient business models and ability to generate robust profits in evolving market of the six companies delivered strong financial results in the first quarter, alongside clear progress on strategic priorities aimed at driving profitable Distribution delivered first quarter net profit of $174 million (Dh639 million), up 16% year-on-year, and its highest-ever first quarter EBITDA behind record Q1 fuel sales and strong performance in non-fuel 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 Distribution also reaffirmed its commitment to its dividend policy, aiming for an annual payout of $700 million (Dh2.57 billion) equivalent to (20.57 fils per share) or at least 75% of net profit, whichever is higher, through Drilling reported strong first quarter results with revenue up 32% to $1.17 billion (Dh4.30 billion) year-on-year (y-o-y), EBITDA up 22% to $533 million (Dh1.96 billion) y-o-y and net profit increasing 24% to $341 million (Dh1.30 billion) company also announced new contract awards worth over $2.4 billion (Dh8.8 billion) providing unmatched multi-year earnings visibility and adding to its multi-billion-dollar revenue ADNOC Drilling's Board of Directors approved quarterly dividend distributions, resulting in a payment of $217 million (Dh796 million) for the first quarter of 2025, ADNOC Drilling expects to deliver revenues between $4.60 - 4.80 billion (Dh16.9 – 17.6 billion) and net profit between $1.35 - 1.45 billion (Dh4.95 – 5.32 billion).ADNOC Gas reported a net income of $1.27 billion (Dh4.7 billion) for Q1 2025, up 7% year-on-year, and EBITDA of $2.16 billion (Dh7.9 billion), up 4% year-on-year, driven by increased domestic gas demand and efficient management of the planned shutdown programme, which boosted processing company continues to invest to achieve its longer-term EBITDA growth target of over 40% between 2023 and 2029. Significant LNG supply agreements worth $9 billion (Dh30.24 billion) were signed with Indian Oil Corporation and JERA Global Markets, and capital expenditures increased by 43% May 13, 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 (Dh1.0 – 1.8 billion) and attract more international institutional Logistics & Services plc (ADNOC L&S) reported strong Q1 2025 financial results with a 41% increase in revenue to $1.2 billion (Dh4.34 billion) and a 20% rise in EBITDA to $344 million (Dh1.26 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 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% in line with its progressive dividend reported strong Q1 2025 results with net profit of $281 million (Dh1.03 billion), driven by year-on-year increases of 10% for sales volumes and 7% for production grew by 9% year-on-year to $1.42 billion (Dh5.21 billion), with EBITDA of $564 million (Dh2.07 billion), maintaining industry-leading margins of 40%.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 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 announced strong Q1 2025 results, with revenues up 26% and adjusted EBITDA rising 45% year over year. Adjusted net profit would have been up 306% excluding last year's one-off foreign exchange revaluation gain, driven by higher urea prices and operational 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 optimisation initiatives are enhanced by ADNOC's full support to integrate and optimise $15 - 21 million (Dh55.1 – 77.1 million) of the company's fixed costs in addition to $10 million (Dh36.7 million) in annual interest savings via direct and indirect financing support. Combined, these would lead to ~13-16% after tax earnings per share growth by the end of 2025. The company also reaffirmed its dividend policy to substantially pay out all excess free cash flows after providing for growth opportunities, and in April initiated a share buyback programme to repurchase up to 2.5% of its outstanding shares.
Gulf News
05-05-2025
- Business
- Gulf News
Steven Bartlett inspires entrepreneurs at NEXT by O West event in Cairo
The Middle East is experiencing a business revolution, with start-ups in the region raising a record-breaking $2.3 billion (Dh8.4 billion) in investments in 2024 alone. This surge is driven by bold entrepreneurs who are pushing boundaries and transforming industries, but true success goes beyond just capital—it's about cultivating the right mindset, developing resilience, and committing to continuous growth in an ever-evolving landscape. Driven by a shared vision of empowering the next generation of leaders, O West, the fully integrated town by Orascom Development in West Cairo, partnered with MO4 Network, one of the region's most impactful digital media companies with a portfolio of 14 leading publications, to bring NEXT by O West to life. Steven Bartlett, one of the world's most influential entrepreneurs and the host of one of the biggest business podcasts, The Diary of a CEO, headlined the event, reflecting O West and MO4 Network's commitment to storytelling as a driving force for success and transformation. His journey of resilience and innovation aligned perfectly with their mission to inspire and empower future business leaders. Held at the O Business District with more than 100 innovators in attendance, NEXT by O West provided aspiring entrepreneurs with the resources, networks, and insights needed to fuel their journeys. O West, developed by Orascom Development, is an integrated town that seamlessly combines business, leisure, and living. As part of Orascom Development's expansive 100-million-square-metre portfolio across Europe, the Middle East, and North Africa, O West features a dedicated business hub, the O Business District (OBD), which served as the perfect venue for NEXT by O West. Reflecting on O West's vision, Omar El Hamamsy, Group CEO of Orascom Development, said, 'At Orascom Development, our strategy is built on creating integrated communities where innovation, opportunity, and growth are at the heart of everything we do. This vision extends beyond just providing spaces to live and work, it's about cultivating environments that empower individuals and businesses to reach their full potential.' He added: 'O West is a great example of this approach; it's a thriving hub where entrepreneurs, leaders, and creatives come together to shape the future. Hosting events like NEXT by O West with global leaders like Steven Bartlett is part of our broader commitment to equipping the next generation with the inspiration, knowledge, and connections they need to drive change and lead in the evolving business landscape.' Reinforcing the impact of collaboration and storytelling, Amy Mowafi, Co-founder and CEO of MO4 Network, said, 'Our mission is to drive change and create impact through meaningful stories about the people, places, and movements shaping the Middle East today. 'NEXT is an event experience that reflects our belief in the power of connection and the possibilities that arise when extraordinary minds are brought together buoyed by inspiring stories. They say to predict the future you have to create it, so we're hoping that together, we can discover what's NEXT.' At the core of this ecosystem lies O Business District (OBD), O West's dedicated business hub designed to support entrepreneurs, professionals, and enterprises with modern infrastructure. Since 2019, OBD has established itself as a business destination, offering 29,046 square metres of office space and 707 square metres of retail, attracting a growing community of forward-thinking professionals. Building on this foundation, Phase 2 expands OBD's innovative business environment with an additional 25,920 square metres, including 4,674 square metres dedicated to retail and co-working spaces. A key highlight is the vibrant new promenade, designed to foster connectivity and engagement through pedestrian-friendly walkways, lush green spaces, and inviting seating areas. This seamless blend of functionality and creativity ensures an inspiring atmosphere for both work and leisure. Through initiatives that combine modern workspaces, strategic partnerships, and a focus on talent development, O West is not just building a community, it is creating a hub for the next generation of trailblazers. With the continued growth of the O Business District and the expansion of its vision, O West is poised to become the driving force behind the future of business and innovation in the MENA region.
Khaleej Times
29-04-2025
- Business
- Khaleej Times
Abu Dhabi: Aldar reports 33 per cent rise in Q1 2025 net profit before tax to Dh2.2 billion
Aldar, Abu Dhabi's premier developer, on Tuesday reported a 33 per cent rise in first quarter net profit before tax to Dh2.2 billion, driven by strong demand for existing inventory and new launches. Total UAE sales increased 38 per cent year on year to Dh8.4 billion driven by strong demand for both new launches and existing developments. Aldar launched two new projects in Q1 2025: Manarat Living III on Saadiyat Island; and The Wilds in Dubai, the third development under a joint venture with Dubai Holding. The developer's projects created a strong appeal among international buyers, with UAE sales to overseas and expat resident customers rising to Dh7.4 billion, representing 87 per cent of total UAE sales. UAE revenue backlog at the end of March 2025 stood at a record Dh46.7 billion, up from Dh45.9 billion at the end of December 2024. With an average duration of 29 months, it provides significant visibility on revenue over the next 2-3 years. Cash collections remain strong, totalling Dh3.6 billion as the company pursues accelerated delivery of projects. Increasingly diversified group development backlog has reached a record Dh55.7 billion, with UAE backlog of Dh46.7 billion, driving revenue recognition over the next 2-3 years. Aldar Investment's adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) rose 10 per cent year on year to Dh764 million — up 20 per cent excluding gains from disposals and divestments – and assets under management growing to Dh46 billion. Aldar strengthened its capital structure and financial resilience, issuing Dh3.7 billion hybrid capital notes and a Dh1.8 billion green sukuk, as well as securing a Dh9 billion syndicated revolving credit facility and a Dh1.8 billion hybrid capital solution from Apollo. Earnings per share rises 25 per cent year on year to Dh0.20 on the back of cross-platform earnings growth. Strong liquidity position supports prudent growth agenda with Dh10.2 billion in free and unrestricted cash, and Dh19.3 billion in undrawn committed credit facilities as at end of March. 'Aldar's strong start to the year demonstrates the depth and resilience of our diversified platform, and our ability to execute and grow with discipline against a clear strategy for long-term value creation. Looking forward, the UAE's sustained investment in strategic sectors and its commitment to a business-friendly environment and economic diversification provide a powerful foundation for stability and growth. In this conducive environment and with a development backlog reaching a record Dh55.7 dirhams, Aldar is well-positioned to deliver sustainable performance, deploying capital with care and reinforcing our role as a long-term partner in shaping the UAE's economic development,' said Mohamed Khalifa Al Mubarak, Chairman of Aldar. 'Aldar delivered a robust financial performance in the first quarter, with continued momentum across our core businesses driving a 33 per cent increase in net profit before tax to 2.2 billion dirhams. Our development sales remained extremely strong, rising 42 per cent to Dh8.9 billion, while our pipeline of new launches is on track amid continued demand from both local and international buyers. Meanwhile, our investment portfolio continued to perform positively, with recent acquisitions, increasing rental rates, and near-full occupancy levels driving revenue growth and income stability. In early 2025, we took proactive steps to reinforce Aldar's financial strength and resiliency, increasing liquidity through capital markets issuances and a syndicated loan. We have full confidence that our diversified platform, robust revenue backlog, and prudent capital deployment strategy position the company well to create long-term value for our stakeholders,' said Talal Al Dhiyebi, group chief executive officer of Aldar.
