Adnoc’s retail arm Adnoc Distribution reported a 16% y-o-y rise in net income attributable to shareholders to AED 639 mn (c. USD 174 mn) in 1Q 2025, according to the company management’s financials report(pdf). The firm’s revenues declined 3.2% y-o-y to around AED 8.5 bn for the same period, which was attributed to lower crude prices compared to 1Q 2024.

Demand for the company’s aviation fuels in the Egyptian market grew by 22.9% y-o-y, partially offsetting the impact of UAE’s lower spot market trading volume on the company’s commercial sales volumes — which fell by about 2.3% y-o-y to 3.7 bn liters.

What’s next? Adnoc Distribution predicts solid growth for 2025, driven by volume growth, higher contribution from non-fuel retail, expansions in international operations, and increased efficiency measures. The company plans on adding 40-50 new stations across its network this year, including 30-40 DOCO stations in KSA, with 15 stations currently under construction.

REMEMBER- Adnoc Distribution reported a 14.3% y-o-y drop in its bottomline for 4Q 2024 to AED 580 mn on the back of corporate tax expenses and inventory movements. It saw a 7.6% y-o-y drop in its top line to AED 8.8 bn on the back of lower selling prices for the same period.

Tags: