Abu Dhabi – Mubasher: ADNOC Gas recorded net income amounting to $4.72 billion in 2024, marking a 6% year-on-year (YoY) from $5 billion.
The revenues increased by 7% to $22.73 billion last year from $24.42 billion in 2023, according to the financial results.
In the fourth quarter (Q4) of 2024, the net income rose by 3%YoY to $1.38 billion from $1.34 billion, while the revenues dropped by 4% YoY to $6.06 billion from $6.30 billion.
On a quarterly basis, the Q4-24 profits rose by 11% from $1.24 billion in Q3-24, while the revenues fell by 4% from $6.28 billion.
Fatema Al Nuaimi, CEO of ADNOC Gas, said: “Our record-breaking fourth quarter results demonstrate our ability to deliver on our ambitious growth strategy as we seek to realize EBITDA growth of over 40% by 2029.”
Full Year Dividends
ADNOC Gas confirmed its dividend of $3.412 billion, of which an interim cash dividend of $1.70 billion was paid in September 2024 and an additional $1.70 billion is expected to be paid in April 2025.
The final dividend for 2024 aligns with the company’s robust policy to increase the annual dividend by 5% annually, reflecting its strong free cash flow, which exceeds the dividend commitment by over $1 billion.
