Adnoc Distribution, the UAE’s top fuel retailer, posted a strong first-half result with a 12% surge in Adnoc profit. The company earned $358 million, backed by its highest-ever fuel sales volume of 7.62 billion litres. This marked a 5.6% increase compared to the same period last year. The rise came despite a minor revenue dip, highlighting robust performance in core operations.
Adnoc also recorded record EBITDA of $566 million, up 10% year on year. This increase in profitability reflects operational efficiency and a successful expansion strategy. While total revenue slipped to $4.65 billion, the steady rise in Adnoc profit shows strong financial discipline. The company credits customer-focused innovation and cost control for these results.
The second quarter also brought a 9% jump in net profit, totaling $184 million. Though revenue slightly declined, non-fuel segments showed solid gains. Convenience stores, car services, property management, and lubricants lifted gross profit by 14.9%. These segments add diversification and stability to Adnoc profit, strengthening its long-term outlook.
The company confirmed it will distribute $350 million in dividends for the first half. This aligns with its policy of steady shareholder returns. In addition, Adnoc plans to open up to 70 new fuel stations by year-end. Most of these will be in Saudi Arabia, expanding its footprint in the region’s largest oil market.
So far, the company added 47 stations this year, bringing the total to nearly 940. These include 556 in the UAE, 70 in Saudi Arabia, and 243 in Egypt. Adnoc also operates 379 Oasis stores and 37 vehicle inspection centres. More than 300 EV chargers are active in the UAE under its E2GO brand.
Despite oil price volatility, Adnoc continues to invest in innovation and efficiency. Its diverse revenue streams, backed by fuel and retail strength, secure a solid foundation. The consistent growth in Adnoc’s profit proves the company’s resilience in fluctuating energy markets. Expansion plans and new services suggest a positive future outlook.=
