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Khaleej Times
20-05-2025
- Business
- Khaleej Times
Adnoc Gas announces Q1 net income of $1.27 billion
ADNOC Gas on Monday announced net income of $1.27 billion and EBITDA of $2.16 billion for the first quarter of 2025, exceeding the equivalent quarter in 2024 by 7% and 4% respectively. The performance was driven firstly by continued demand for domestic gas - up on the equivalent quarter last year - as a result of strong economic growth in the UAE, which lifted the total sales volume. Secondly, through efficient management of the planned shut-down programme to boost processing capacity, a reduction in the number of days the Company's plants were offline led to a rise in processed volumes. Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said, 'This has been another outstanding quarterly performance by ADNOC Gas, supported by our resilient business model in a lower oil price market, which significantly exceeded market expectations. These results come on the back of successful supply agreements and the optimisation of our ongoing shut-down programme designed to power our continued growth. Looking ahead, we will use the strength of our balance sheet to invest through the cycle as we seek to realize EBITDA* growth of over 40% between 2023 and 2029.' ADNOC Gas signed a series of mid to long term LNG supply agreements valued at circa $9 billion with the Indian Oil Corporation and JERA Global Markets of Japan during Q1, reinforcing its role as a leading supplier of lower-carbon fuel. The agreements support the growth of the Company's international customer base as well as the transformation of global energy systems. Q1 also saw a year-on-year uplift in CAPEX of 43% as ADNOC Gas continues to make the necessary investments through the cycle to grow the business and achieve its longer-term EBITDA targets. Project implementation remains on track, with the Company expecting to take a Final Investment Decision on its Rich Gas Development project in 2025. As a result of the recently completed marketed offering of 3.1 billion shares in ADNOC Gas in which the free float increased by 4% to 9%, the Company is eligible for potential inclusion in the MSCI and FTSE indices as early as June and September respectively.
Trade Arabia
06-05-2025
- Business
- Trade Arabia
Adnoc Gas Q1 net income rises 7% to $1.27bn
Adnoc Gas and its subsidiaries, a world-class integrated gas processing and sales company, have announced net income of $1.27 billion and EBITDA of $2.16 billion for the first quarter of 2025, exceeding the equivalent quarter in 2024 by 7% and 4%, respectively. The performance was driven firstly by continued demand for domestic gas - up on the equivalent quarter last year - as a result of strong economic growth in the UAE, which lifted the total sales volume. Secondly, through efficient management of the planned shut-down programme to boost processing capacity, a reduction in the number of days the Company's plants were offline led to a rise in processed volumes, a Wam news agency report said. Fatema Al Nuaimi, Chief Executive Officer of Adnoc Gas, said: 'This has been another outstanding quarterly performance by Adnoc Gas, supported by our resilient business model in a lower oil price market, which significantly exceeded market expectations. These results come on the back of successful supply agreements and the optimisation of our ongoing shut-down programme designed to power our continued growth. Looking ahead, we will use the strength of our balance sheet to invest through the cycle as we seek to realise EBITDA growth of over 40% between 2023 and 2029.' Adnoc Gas signed a series of mid to long term LNG supply agreements valued at circa $9 billion with the Indian Oil Corporation and JERA Global Markets of Japan during Q1, reinforcing its role as a leading supplier of lower-carbon fuel. The agreements support the growth of the Company's international customer base as well as the transformation of global energy systems. Q1 also saw a year-on-year uplift in capex of 43% as Adnoc Gas continues to make the necessary investments through the cycle to grow the business and achieve its longer-term EBITDA targets. Project implementation remains on track, with the Company expecting to take a Final Investment Decision on its Rich Gas Development project in 2025. As a result of the recently completed marketed offering of 3.1 billion shares in Adnoc Gas in which the free float increased by 4% to 9%, the company is eligible for potential inclusion in the MSCI and FTSE indices as early as June and September respectively, it said.
ARN News Center
05-05-2025
- Business
- ARN News Center
ADNOC Gas announces Q1 net income of $1.27 billion
ADNOC Gas plc and its subsidiaries has announced net income of $1.27 billion and EBITDA of $2.16 billion for the first quarter of 2025, exceeding the equivalent quarter in 2024 by 7 per cent and 4 per cent respectively. The performance was driven firstly by continued demand for domestic gas - up on the equivalent quarter last year - as a result of strong economic growth in the UAE, which lifted the total sales volume. Secondly, through efficient management of the planned shut-down programme to boost processing capacity, a reduction in the number of days the Company's plants were offline led to a rise in processed volumes. Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said, "These results come on the back of successful supply agreements and the optimisation of our ongoing shut-down programme designed to power our continued growth. Looking ahead, we will use the strength of our balance sheet to invest through the cycle as we seek to realise EBITDA* growth of over 40 per cent between 2023 and 2029.' ADNOC Gas signed a series of mid to long term LNG supply agreements valued at circa $9 billion with the Indian Oil Corporation and JERA Global Markets of Japan during Q1, reinforcing its role as a leading supplier of lower-carbon fuel. The agreements support the growth of the Company's international customer base as well as the transformation of global energy systems. Q1 also saw a year-on-year uplift in CAPEX of 43 per cent as ADNOC Gas continues to make the necessary investments through the cycle to grow the business and achieve its longer-term EBITDA targets. Project implementation remains on track, with the Company expecting to take a Final Investment Decision on its Rich Gas Development project in 2025. As a result of the recently completed marketed offering of 3.1 billion shares in ADNOC Gas in which the free float increased by 4 per cent to 9 per cent, the Company is eligible for potential inclusion in the MSCI and FTSE indices as early as June and September respectively.
Arabian Business
05-05-2025
- Business
- Arabian Business
ADNOC Gas exceeds market expectations with 7% jump in Q1 net income
Efficient management of its planned shut-down programme to boost processing capacity, and the continued demand for domestic gas, led to a 7 per cent year-on-year (YoY) growth in net income and a 4 per cent YoY jump in EBITDA for ADNOC Gas, which announced its first quarter results for 2025. Net income for Q1 2025 reached US$1.27 billion and EBITDA was at US$2.16 billion, coming on the back of revenue increasing 1 per cent to US$6.1 billion. ADNOC Gas Q1 growth The rise in domestic demand – a result of the UAE's strong economic growth – lifted total sales volume, while the shut-down programme reduced the number of days the company's plants were offline and raised processed volumes. However, both net income and EBIDTA were down sequentially compared to Q4 2024 – by 8 per cent and 5 per cent respectively. Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, commented: 'This has been another outstanding quarterly performance by ADNOC Gas, supported by our resilient business model in a lower oil price market, which significantly exceeded market expectations. 'These results come on the back of successful supply agreements and the optimisation of our ongoing shut-down programme designed to power our continued growth. Looking ahead, we will use the strength of our balance sheet to invest through the cycle as we seek to realise EBITDA growth of over 40 per cent between 2023 and 2029.' During Q1, ADNOC Gas signed a series of mid- to long-term LNG supply agreements valued at approximately US$9 billion with the Indian Oil Corporation and JERA Global Markets of Japan, reinforcing its role as a leading supplier of lower-carbon fuel. The first quarter also saw a year-on-year uplift in CAPEX of 43 per cent as ADNOC Gas continued to invest to grow the business and achieve its longer-term EBITDA targets. The company reported that its project implementations were on track.
