Abu Dhabi – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) achieved its highest-ever earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $1.05 billion (AED 3.86 billion) in 2024.
This marked a 4.80% year-on-year (YoY) increase, according to the annual financial statements.
ADNOC Distribution posted higher revenues at AED 35.45 billion in 2024, an annual increase from AED 34.62 billion.
Net profits after tax dropped to AED 2.47 billion last year from AED 2.63 billion in 2023, while the basic and diluted earnings per share (EPS) dropped to AED 0.19 from AED 0.20.
This record-breaking performance reflects robust fuel volumes, significant nonfuel retail growth, and increasing contributions from international operations including Saudi Arabia and Egypt.
Bader Saeed Al Lamki, CEO of ADNOC Distribution, commented: “By driving operational efficiency, embracing digital transformation, and expanding our market presence, we are well-positioned to achieve the ambitious goals of our five-year strategy.”
Cash Dividends
The board members recommended a cash dividend of $350 million (AED 1.28 billion), equivalent to 10.28 fils per share, for the second half (H2) of 2024.
Expected to be paid in April 2025, the dividends proposal is subject to shareholders’ approval at the upcoming general assembly meeting scheduled for March 2025.
This aligns with the 2024-2028 policy to distribute an annual dividend of $700 million (AED 2.57 billion) or at least 75% of net profit, whichever is higher.
