Latest news with #Distribution
Al Etihad
6 days ago
- Business
- Al Etihad
ADNOC Distribution delivers strong H1 2025 results with 12% net profit growth
7 Aug 2025 09:08 ABU DHABI (WAM)ADNOC Distribution today reported double-digit growth in its EBITDA and net profit for the first half of 2025. The company achieved its highest-ever first-half EBITDA of $566 million, up 10.0 per cent year-on-year (YoY), driving a 12.2 per cent YoY increase in net profit to $358 company also achieved record first-half fuel volumes of 7.62 billion litres, up 5.6 per cent Saeed Al Lamki, CEO of ADNOC Distribution, said, '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 and superior returns for our shareholders.'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 addition, ADNOC Rewards, the UAE's leading fuel and convenience loyalty program, grew by 19.5 per cent YoY to nearly 2.5 million Distribution continued its strategic network expansion, adding 47 new service stations in the first half of 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, which is optimised for sustainable DOCO model has enabled ADNOC Distribution to double its Saudi network YoY, from 69 to 140 on this momentum, the company has revised its expansion guidance upwards to 60-70 new stations by the end of 2025, with 50-60 of these located in Saudi May 2025, ADNOC Distribution launched the Voyager lubricant line nationally across Egypt, expanding its distribution to third-party retail stores for the first time. The company has set a target of 3,000 points of sale in Egypt by the end of ADNOC Distribution's E2GO fast- and super-fast EV charging network reached a significant milestone in H1 2025, with over 300 charging points now installed across the UAE. It also aims to expand its network to over 500 charging points by 2028. The company is on track to meet its target of adding 100 new charging points in part of its digital transformation, ADNOC Distribution deployed MEERAi, ADNOC's AI-powered board advisory tool, at its most recent Board meeting. Designed for executive use, MEERAi delivers real-time insights, enabling faster, data-driven a robust net debt to EBITDA ratio of 0.80x at the end of H1 2025, the company remains committed to its dividend policy, ensuring clear visibility on returns. 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 3.70 as of August 6, 2025, this represents an annual yield of nearly 6 per cent. A dividend of $350 million for H1 2025 is expected to be distributed in October 2025, subject to Board approval.
Yahoo
05-08-2025
- Business
- Yahoo
Cummins CEO Highlights Secular Growth In Power, Cautions On Truck Market Weakness
Cummins Inc. (NYSE:CMI) stock is trading higher on Tuesday after it reported second-quarter 2025 results that beat Wall Street expectations for both earnings and revenue. Strength in its Power Systems and Distribution segments offset declines in other markets. The company posted diluted earnings per share of $6.43, surpassing the $5.10 analyst estimate. Revenue for the quarter was $8.60 billion, beating the $8.43 billion consensus. Sales fell 2% year-over-year as North America declined 6%, while international sales rose 5% on higher demand in Europe and China. Also Read: Net income attributable to Cummins was $890 million, or 10.3% of sales, up from $726 million, or $5.26 per share, in the prior-year period. EBITDA for the quarter rose to $1.6 billion, or 18.4% of sales, compared with $1.3 billion, or 15.3%, a year ago. Power Systems led segment performance with sales rising 19% to $1.9 billion. North American revenue grew 23%, while international sales rose 16%, driven by demand in data center and mission-critical markets. Distribution revenue increased 7% to $3.0 billion, as North America rose 9% and international sales climbed 4%, largely due to increased demand for power generation products in the U.S. The Engine segment reported $2.9 billion in sales, down 8% year-over-year. North American revenue declined 8%, and international revenue fell 7% due to lower on-highway demand in the U.S. and Mexico. Components revenue declined 9% to $2.7 billion, with North America down 15% and flat international sales. View more earnings on CMI Accelera, Cummins' zero-emissions segment, saw sales fall 5% to $105 million due to reduced electrolyzer installations. The company reaffirmed its commitment to long-term investments under its Destination Zero strategy. Operating cash flow for the quarter was $785 million. Cummins ended the period with $2.32 billion in cash and cash equivalents and $6.81 billion in long-term debt. On July 15, the company increased its quarterly dividend from $1.82 to $2.00 per share, payable Sept. 4, 2025, to shareholders of record as of Aug. 22, marking 16 consecutive years of dividend growth. CMI also introduced the S17 Centum generator set, capable of producing up to 1 megawatt in a compact footprint for use in healthcare, water treatment, and commercial sectors. 'We see a contrast across our markets with robust demand for power generation equipment supported by clear secular drivers, and our more economically sensitive markets, such as truck, where end-user confidence has declined,' commented Chair and CEO Jennifer Rumsey. 'This contrast will become even more pronounced in the second half of the year as North America truck build rates decline sharply, starting in the third quarter,' he added. Amid ongoing economic and regulatory uncertainty, the company said it will not reinstate a full-year revenue or profitability outlook at this time. 'Our diversified portfolio, disciplined cost management and strong execution have enabled us to navigate recent industry challenges. However, persistent economic and regulatory uncertainty continues to impact a number of our key markets and cloud our near-term outlook for both business and market performance,' stated Rumsey. Price Action: At last check Tuesday, CMI shares were trading higher by 6.15% to $383.83. Read Next:Photo by JHVEPhoto via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? CUMMINS (CMI): Free Stock Analysis Report This article Cummins CEO Highlights Secular Growth In Power, Cautions On Truck Market Weakness originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hi Dubai
10-07-2025
- Business
- Hi Dubai
DEWA Expands AI Integration to Boost Energy Distribution Efficiency
Dubai Electricity and Water Authority (DEWA) is accelerating the use of artificial intelligence across its energy distribution operations, aiming to enhance efficiency, reliability, and customer satisfaction as part of its digital transformation strategy. At the heart of this effort is DEWA's smart grid, supported by AED 7 billion in investments through 2035. The grid enables integrated, round-the-clock services and plays a key role in Dubai's ambition to be a global leader in AI adoption and digital innovation. HE Saeed Mohammed Al Tayer, MD & CEO of DEWA, highlighted the capabilities of the Distribution Network Smart Centre, which processes over 15 million data points daily. This data is transformed into dashboards and insight reports that guide real-time decisions and enable predictive maintenance. Al Tayer emphasized that leveraging big data, machine learning, and AI has helped DEWA achieve record operational performance, including the world's lowest electricity customer minutes lost — just 0.94 minutes in 2024, far below the 15-minute average in Europe. As of end-2024, DEWA operated 69 33kV substations and over 45,000 medium-voltage substations. To meet rising demand, the authority deployed more than 1.2 million smart electricity meters and over 1.1 million smart water meters, with full adoption across its customer base. The expansion aligns with Dubai's wider smart city goals and underscores DEWA's role in shaping a tech-driven, sustainable energy future. News Source: Dubai Media Officce
Yahoo
07-07-2025
- Business
- Yahoo
Primaris REIT Announces Distribution for July 2025
TORONTO, July 07, 2025--(BUSINESS WIRE)--Primaris Real Estate Investment Trust ("Primaris" or the "Trust") (TSX: announced today that its Board of Trustees has declared a distribution of $0.0717 per unit for the month of July 2025, representing $0.86 per unit on an annualized basis. The distribution will be payable on August 15, 2025 to unitholders of record on July 31, 2025. About Primaris Real Estate Investment Trust Primaris is Canada's only enclosed shopping centre focused REIT, with ownership interests in leading enclosed shopping centres located in growing Canadian markets. The current portfolio totals 15.0 million square feet, valued at approximately $4.9 billion at Primaris' share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape. For more information: TSX: View source version on Contacts Alex AveryChief Executive Officer416-642-7837aavery@ Rags DavloorChief Financial Officer416-645-3716rdavloor@ Claire MahaneyVP, Investor Relations & ESG647-949-3093cmahaney@ Timothy PireChair of the Boardchair@ Sign in to access your portfolio
Scoop
30-06-2025
- Business
- Scoop
Generate Appoints Matt Hanchet As Investment Distribution Manager
Press Release – Generate Before the role at Mint, Matt spent five years at Generate where he started in customer relationship management before heading to Distribution and becoming a Business Development Manager. Generate, one of New Zealand's leading KiwiSaver and wealth providers, is pleased to announce that Matt Hanchet is returning to Generate and joining the team as Investment Distribution Manager. Matt was most recently Head of Retail Distribution at Mint, where he led adviser engagement and helped shape distribution strategy, product positioning, and media relationships. He worked closely with the investment team to align messaging with Mint's investment process and played a key role in lifting their market presence. Before the role at Mint, Matt spent five years at Generate where he started in customer relationship management before heading to Distribution and becoming a Business Development Manager. Generate KiwiSaver Scheme has more than 170,000 members and more than 7 billion funds under management. Generate's portfolio of eight managed funds is becoming a central focus as more informed Kiwis seek expert guidance to build their financial futures beyond KiwiSaver. Matt's new role will be key to increasing the rollout of managed funds within Generate's third-party adviser network. Matt says, 'I'm excited to take on the role of Investment Distribution Manager. It's a significant opportunity to help advisers across New Zealand fully leverage Generate's excellent range of managed funds.' Says Kristian James, Generate Head of Distribution: 'Matt's leadership and skills were highly valued during his previous tenure with Generate. Now we're excited to have him back in this key distribution role.'
