ADNOC Distribution reported a strong 12.2% year-on-year increase in net profit to $358 million for H1 2025, surpassing expectations, driven largely by its growing non-fuel retail operations, according to financial results issued Thursday.
Key Figures
- The UAE’s foremost fuel and convenience retail group also achieved record first-half EBITDA of $566 million—a 10% uplift from the previous year—per its filing with the Abu Dhabi Securities Exchange (ADX).
- Fuel volumes also reached an all-time H1 high, rising 5.6% to 7.62 billion litres.
- This positive performance coincides with progress in the firm’s five-year growth plan aimed at increasing EBITDA by 2028 through strategic retail and mobility initiatives.
- Gross profit from non-fuel retail activities rose by 14.9% year-on-year, while transaction growth stood at 10.4%. ADNOC Rewards also saw a 19.5% increase in active users, reaching 2.5 million members.
- The company maintains a stable financial base, with a net debt-to-EBITDA ratio of 0.80x as of end-June.
- A capital expenditure range of $250–300 million per annum has been earmarked to support continued momentum.
Dividend Policy Maintained
ADNOC Distribution reaffirmed its long-term dividend policy on Thursday, promising an annual payout of $700 million or 75% of net income—whichever is higher—until at least 2028.
A mid-year dividend of $350 million is expected in October, subject to board approval, equating to nearly a 6% yield based on the 6 August share price of $1.01 (AED 3.7).
Expanding Footprint
During the first half of the year, ADNOC Distribution opened 47 new service stations, expanding its total network to almost 940. Most additions were in Saudi Arabia, where the company is scaling its DOCO model.
Its Saudi station count surged from 69 to 140 year-over-year.
The company now anticipates 60–70 new stations in 2025, including 50–60 in Saudi Arabia.
In May, Voyager lubricants launched in Egypt, with ambitions to reach 3,000 retail points by end-2026. Voyager remains the UAE’s top lubricant brand and is exported to over 47 markets globally.
EV Infrastructure Scaling
EV infrastructure remains a growth focus, with over 300 rapid and ultra-rapid chargers installed across the UAE under the E2GO brand in H1 2025. ADNOC Distribution aims to exceed 500 by 2028 and add 100 this year.
