Latest news with #E2GO
Arabian Business
06-05-2025
- Automotive
- Arabian Business
ADNOC Distribution posts record Q1 2025 earnings
ADNOC Distribution, a leading UAE fuel and convenience retailer, reported a 16 per cent rise in its net profit in the first quarter of 2025 to $174 million (AED 639 million). The company also reported an 11 per cent jump in its EBITDA in Q1 this year to $275 million (AED1.01 billion), its highest first-quarter EBITDA result since its 2017 IPO. These strong results reflect growth in both fuel and non-fuel segments, driven by the company's focus on sustainable growth and cost efficiencies, ADNOC Distribution said. Bader Saeed Al Lamki, Chief Executive Officer of ADNOC Distribution, said the record first-quarter performance demonstrates the company's commitment to growth and delivering sustainable and innovative solutions to its customers, while creating long-term value for shareholders. 'Our outstanding Q1 2025 results, with an 11 per cent rise in EBITDA and a 16 per cent increase in net profit, highlight the company's outstanding progress against its 2024-2028 growth strategy and commitment to operational excellence. 'As we continue to expand our network and capabilities, adding new service stations and enhancing our customer experiences, we remain focused on capturing new opportunities and setting new benchmarks for the mobility and convenience retail industry,' he said. ADNOC Distribution said it achieved its highest-ever first-quarter fuel volume of 3.7 billion liters in Q1 2025, driven by market share growth, increasing demand, and network expansion in the UAE, Saudi Arabia, and Egypt. Non-fuel retail (NFR) continues to be a key growth driver for the company, outpacing fuel growth, it said. In Q1 2025, NFR gross profit grew by 14 per cent y-o-y, driven by a 9 per cent increase in transactions, higher convenience store conversion rates, and continued strong performance in car wash, lube change, and property management services. The company said it added 20 new service stations in Q1, bringing the network-wide total to 915, up from 846 in Q1 2024, putting it on track to meet its target of 40-50 new stations by the end of 2025. Key to this expansion has been the company's focus on the large and dynamic Saudi fuel retail market, where it is able to expand quickly to meet increasing demand, while minimising CAPEX by deploying a Dealer Owned-Company Operated (DOCO) business model. In Q1 2025, ADNOC Distribution contracted 15 service stations in Saudi Arabia, growing its total network in the country to 115, up by 67 per cent compared to Q1 2024. ADNOC Distribution also added 20 new quick-service retail outlets in Q1 2025, further cementing its position as the largest retail property network in the UAE with 1,165 units across the country. Additionally, the company significantly expanded its E2GO public EV charging network, adding 63 new fast and super-fast charging points in Q1, bringing the total to 283 installed across the UAE, a y-o-y increase of 318 per cent.
Trade Arabia
22-04-2025
- Automotive
- Trade Arabia
Adnoc Distribution to operate 500 high-power EV chargers by 2028
Adnoc Distribution, a leading fuel distributor and convenience store operator, has unveiled plans for a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging points from 53 in 2023 to over 200 in 2024. Announcing this at the Electric Vehicle Innovation Summit (EVIS 2025), Adnoc Distribution said it has set a target of operating 500 high-power chargers by 2028. The company said last year, it had reduced carbon emissions by the equivalent of more than 23 million metric tonnes. A key unit of Abu Dhabi National Oil Company, Adnoc Distribution remains the only one in the UAE currently enabling uninterrupted electric journeys thanks to its advanced infrastructure. The Mena region's largest annual event dedicated to shaping the future of electric mobility, EVIS 2025 kicked off yesterday (April 21) and will run until tomorrow. The three-day event brings together thought leaders, experts and enthusiasts to explore the latest trends and stimulate meaningful change. It features a dynamic conference, an innovative exhibition, a showcase for startup & student innovators, a tech park, a test drive area, and a dedicated OEM exhibition space. In his address at the summit, CEO Bader Saeed Al Lamki said the company continues to strengthen its position in EV mobility by developing advanced charging infrastructure and offering a smart, sustainable digital experience for customers, supporting the UAE's Net Zero by 2050 strategic initiative. Adnoc Distribution's extensive network across all emirates allows customers to travel seamlessly, supported by premium retail services during charging, including exclusive offers and shopping at Adnoc Oasis convenience stores, he stated. He pointed out that innovation and technology remained central to the company's operations, highlighting features such as real-time updates via the Adnoc app and Apple smartwatches, in addition to Plug & Charge technology powered by artificial intelligence, enabling automatic vehicle recognition and charging as soon as it is plugged in. The service also provides smart energy management and real-time predictive analytics, and integrates with Adnoc's loyalty programme while offering flexible digital payment options to enhance the customer experience, he added. Adnoc Distribution continues to expand its digital capabilities and smart services to support the national transition in the transport sector, while delivering a fast and flexible charging experience that meets the expectations of EV drivers across the country. Al Lamki said the company is showcasing the capabilities of the E2GO network at EVIS 2025 and exploring partnership opportunities with government entities, automotive manufacturers and energy providers to further contribute to Adnoc Group's decarbonisation efforts. "Adnoc Distribution plays a pivotal role in supporting the future of EV mobility, with E2GO now fully owned by the company and operating as a major charge point operator that balances customer satisfaction with investment sustainability," he stated. He said customers can now activate the Plug & Charge feature with a one-time setup, allowing them to enjoy seamless automated charging while monitoring the process through the app or smartwatches. The service is currently available for select vehicles within the E2GO network, he added.
Zawya
22-04-2025
- Automotive
- Zawya
ADNOC Distribution to operate 500 high-power EV chargers by 2028
ADNOC Distribution announced a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging points from 53 in 2023 to over 200 in 2024, with a target of operating 500 high-power chargers by 2028. Bader Saeed Al Lamki, CEO of ADNOC Distribution, said during the Electric Vehicle Innovation Summit (EVIS 2025) that the company continues to strengthen its position in EV mobility by developing advanced charging infrastructure and offering a smart, sustainable digital experience for customers, supporting the UAE's Net Zero by 2050 strategic initiative. He said innovation and technology remain central to the company's operations, highlighting features such as real-time updates via the ADNOC app and Apple smartwatches, in addition to Plug & Charge technology powered by artificial intelligence, enabling automatic vehicle recognition and charging as soon as it is plugged in. The service also provides smart energy management and real-time predictive analytics, and integrates with ADNOC's loyalty programme while offering flexible digital payment options to enhance the customer experience. Al Lamki noted that ADNOC Distribution's extensive network across all emirates allows customers to travel seamlessly, supported by premium retail services during charging, including exclusive offers and shopping at ADNOC Oasis convenience stores. He said the company is showcasing the capabilities of the E2GO network at EVIS 2025 and exploring partnership opportunities with government entities, automotive manufacturers and energy providers to further contribute to ADNOC Group's decarbonisation efforts. ADNOC Distribution reduced carbon emissions in 2024 by the equivalent of more than 23 million metric tonnes. The company remains the only one in the UAE currently enabling uninterrupted electric journeys thanks to its advanced infrastructure. He added that ADNOC Distribution plays a pivotal role in supporting the future of EV mobility, with E2GO now fully owned by the company and operating as a major charge point operator that balances customer satisfaction with investment sustainability. Al Lamki explained that customers can activate the Plug & Charge feature with a one-time setup, allowing them to enjoy seamless automated charging while monitoring the process through the app or smartwatches. He confirmed that the service is currently available for select vehicles within the E2GO network. He concluded by saying that the company continues to expand its digital capabilities and smart services to support the national transition in the transport sector, while delivering a fast and flexible charging experience that meets the expectations of EV drivers across the country.
Al Etihad
22-04-2025
- Automotive
- Al Etihad
ADNOC Distribution to operate 500 high-power EV chargers by 2028
22 Apr 2025 17:36 ABU DHABI (WAM)ADNOC Distribution announced a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging points from 53 in 2023 to over 200 in 2024, with a target of operating 500 high-power chargers by Saeed Al Lamki, CEO of ADNOC Distribution, said during the Electric Vehicle Innovation Summit (EVIS 2025) that the company continues to strengthen its position in EV mobility by developing advanced charging infrastructure and offering a smart, sustainable digital experience for customers, supporting the UAE's Net Zero by 2050 strategic said innovation and technology remain central to the company's operations, highlighting features such as real-time updates via the ADNOC app and Apple smartwatches, in addition to Plug & Charge technology powered by artificial intelligence, enabling automatic vehicle recognition and charging as soon as it is plugged service also provides smart energy management and real-time predictive analytics, and integrates with ADNOC's loyalty programme while offering flexible digital payment options to enhance the customer Lamki noted that ADNOC Distribution's extensive network across all emirates allows customers to travel seamlessly, supported by premium retail services during charging, including exclusive offers and shopping at ADNOC Oasis convenience said the company is showcasing the capabilities of the E2GO network at EVIS 2025 and exploring partnership opportunities with government entities, automotive manufacturers and energy providers to further contribute to ADNOC Group's decarbonisation Distribution reduced carbon emissions in 2024 by the equivalent of more than 23 million metric tonnes. The company remains the only one in the UAE currently enabling uninterrupted electric journeys thanks to its advanced added that ADNOC Distribution plays a pivotal role in supporting the future of EV mobility, with E2GO now fully owned by the company and operating as a major charge point operator that balances customer satisfaction with investment Lamki explained that customers can activate the Plug & Charge feature with a one-time setup, allowing them to enjoy seamless automated charging while monitoring the process through the app or smartwatches. He confirmed that the service is currently available for select vehicles within the E2GO network. He concluded by saying that the company continues to expand its digital capabilities and smart services to support the national transition in the transport sector, while delivering a fast and flexible charging experience that meets the expectations of EV drivers across the country.
Gulf Today
26-03-2025
- Business
- Gulf Today
Adnoc Distribution announces Dhs1.285b dividend for H2-2024
Adnoc Distribution on Wednesday announced shareholder approval of all agenda items at its Annual General Assembly Meeting (AGM), including the shareholder approval of a final cash dividend of $350 million (Dhs1.285 billion) for the second half of 2024 to be distributed in April 2025. This brings the total annual dividend for 2024 to $700 million (Dhs2.57 billion), yielding 6.1 per cent, based on the 25th March 2025 closing share price of Dhs3.39, in line with the company's 2024-28 dividend policy of maintaining annual payouts of $700 million or a minimum of 75 percent of net profit, whichever is higher. Dr Sultan Ahmed Al Jaber, Chairman of Adnoc Distribution, said, 'Financially, 2024 was another record-breaking year. We delivered against our five-year strategy, achieving significant milestones that strengthened our market position and set the stage for long-term success. For the second consecutive year, our EBITDA surpassed $1 billion, driven by record fuel volumes-which increased by nearly 9 percent-and sustained non-fuel retail growth, which have allowed us to deliver strong shareholder returns.' In 2024, Adnoc Distribution unveiled a five-year growth strategy underpinned by commitments to domestic growth, building international platforms, and future-proofing its business. By successfully executing this strategy, the company achieved a record EBITDA of $1.05 billion (Dhs3.86 billion) in 2024, a 5 percent year-on-year increase driven by record fuel volumes, strong non-fuel retail growth, and higher contributions from its operations in Saudi Arabia and Egypt. The 2024 dividend reflects the company's ability to generate strong free cash flow, which totalled $756 million (Dhs2.78 billion) in 2024. Since its IPO in 2017, the company has distributed a total of $4.8 billion (Dhs17.4 billion) in dividends and delivered 92 percent in total shareholder returns. This year's dividend distribution of $700 million marks a 3.5x increase from the $200 million distributed in ADNOC Distribution's first year as a listed company. Bader Saeed Al Lamki, CEO of Adnoc Distribution, said, 'Adnoc Distribution is committed to leading the way for the future of mobility and convenience retail, as evidenced by our commitment to expanding our international operations and prioritising high-growth areas.' He added that throughout 2025, the company will continue to drive towards our five-year strategic objectives, including 1,000 service stations across our network, increasing non-fuel transactions by 50 percent, and expanding the E2GO network to 500 EV charging points across the UAE by 2028. In 2025, ADNOC Distribution is targeting the installation of approximately 100 additional fast and super-fast EV charging points across the UAE as part of its commitment to future-proofing and building the future of mobility. In the Year of Community, Adnoc Distribution is also exploring new ways to position its service stations as more than just functional stops, redefining them as welcoming spaces at the heart of the communities they serve. The company aims to double the number of properties occupied by top international and regional food and beverage brands by the end of the year, compared to the end of 2023. By 2028, Adnoc Distribution seeks to grow the number of Adnoc Oasis convenience stores by 25 percent, increase non-fuel transactions by 50 percent and scale directly-operated franchise stores to 50 or more locations - a strategy is expected to allow for a 2.5-fold increase in property yield compared to traditional rental agreements. The company is targeting 1,000 service stations across its network by 2028 and aims to add 40-50 in 2025, with 30-40 of these to be located in Saudi Arabia. In 2024, Adnoc Distribution reached a milestone of 100 service stations in the Kingdom by deploying a smart Dealer-Owned, Company-Operated (DOCO) model. This CAPEX-light, scalable approach involves partnering with local dealers who own service stations, while Adnoc Distribution manages operations. By 2029, Adnoc Distribution targets at least 300 stations across the Kingdom, positioning the company among the top five fuel and convenience retailers in the Saudi market. Adnoc Distribution sees strong growth in 2025, with planned CAPEX of $250-300 million. Through AI-driven data analytics and personalised engagement, the company is reinforcing its commitment to digital transformation, strengthening its position as the UAE's leading multi-energy mobility retailer while expanding internationally in a disciplined manner. A few days earlier, Adnoc Gas plc 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. WAM
