ADNOC Distribution posts $579 million net profit in first 9 months

ABU DHABI: ADNOC Distribution on Friday reported EBITDA increase of 12% YoY to $885 million in the first nine months of 2025, its strongest 9-month performance since listing in 2017, with 2025 net profit growing by 15.6% year on year to $579 million.

In Q3 2025, the company reached a new quarterly EBITDA record of $319 million, an increase of 15.9% year on year, with a strong growth of 21.5% year on year in net profit to $221 million, both exceeding analyst expectations.

The company also achieved the highest nine-month fuel volumes in its history, totalling 11.7 billion litres.

It also added 85 new service stations across its network in the first nine months of the year, bringing its total network size to 977.

A majority of these new stations are in Saudi Arabia, where ADNOC Distribution added 72 new service stations.

This brings the company’s total network in the Kingdom to 172, a 150 percent YoY increase.

Having exceeded its network expansion goals ahead of schedule, the company has raised its year-end target to 90–100 new stations by the end of 2025, up from previous full-year expansion guidance of 60–70. This revised guidance includes 80–90 stations in Saudi Arabia alone.

At the recent inaugural Investor Majlis event hosted by ADNOC Group in Abu Dhabi, ADNOC Distribution announced upgraded network expansion guidance to 1,150 service stations by 2028 and announced a proposed extension of its dividend policy to 2030, subject to shareholder approval, with payouts to now occur on a quarterly basis from Q1 2026.

This renewed commitment reflects confidence in long-term growth, the company’s resilient financial performance, and its robust balance sheet.

Bader Saeed Al Lamki, CEO of ADNOC Distribution, said that ADNOC Distribution’s record performance this year is a testament to the progress it had achieved to date against the five-year growth strategy, furthering the company's transformation into a mobility and convenience retail leader.

“Our strongest quarterly EBITDA ever, combined with a rapidly expanding network, demonstrates the fundamental strength of our business and a firm belief in our long-term growth prospects,” he said.

Al Lamki added, "This confidence is reflected in our recently revised expansion targets and the extension of our class-leading dividend policy for an additional two years.

"By focusing on non-fuel retail, including through a refreshed ‘Oasis by ADNOC’ brand and our property network, we are building a flexible mobility and convenience platform responsive to evolving customer needs, while creating sustainable, long-term value for shareholders.”

Non-fuel retail continued to deliver strong momentum in Q3 2025, with gross profit growing by 14.7% year-on-year.

The company achieved the highest number of non-fuel retail transactions in its history for the first nine months of the year at 39.6 million, representing a 10.2 percent YoY increase, as well as the highest 9M convenience store conversion rate since 2021 at 26.2 percent, marking a YoY increase of 65 basis points.