Adnoc Distribution posts strong 4Q, 2025 earnings

Adnoc Distribution closed out 2025 on firm footing, with 4Q net income up 15.1% y-o-y to AED 668.0 mn and revenue up 7.0% to AED 9.5 bn, according to its management discussion and analysis report (pdf). The quarter was supported by a 7.7% increase in retail fuel volumes and stronger non-fuel retail contribution, helping offset softer commercial volumes.

For FY 2025, net income climbed 15.4% to a AED 2.8 bn, driven by volume growth, margin discipline, and network expansion — the company ended the year with 1k service stations after adding 119 sites, ahead of guidance. Revenue edged up 1.2% y-o-y to AED 35.9 bn.

Fuel vs non-fuel: Fuel volumes increased by a record amount to reach 15.7 bn liters. Non-fuel retail continued to do more of the heavy lifting, with gross income up 14.4% y-o-y and transactions rising 9.3%, the firm said in its earnings release (pdf).

Dividends: Adnoc Distribution proposed a USD 350 mn dividend for 2H 2025, bringing its total dividend for the year to USD 700 mn.

Looking ahead: Adnoc Distribution said it plans to add 60-70 stations and 50-60 fast and superfast EV charging points in 2026. CEO Bader Al Lamki previously said the company has earmarked USD 250-300 mn per year for expansion across the UAE, Saudi Arabia, and Egypt.

Dubai Residential REIT sees 14.5% jump in net income

Dubai Residential REIT’s bottom line hit AED 1.3 bn in 2025, climbing 14.5% y-o-y, according to its earnings release (pdf). The group reported a 9% top-line uptick y-o-y to almost AED 2 bn, and overall results were boosted by sustained leasing activity, high occupancy rates, and improved operational efficiency. Average occupancy was up 1.7% y-o-y to 98.3% and its total asset value reached AED 23.5 bn — up 8.8% y-o-y.

Dividends: The board recommended paying AED 550 mn, 4.2 fils per unit, in dividends for 2H 2025, bringing full-year dividends to AED 1.1 bn. Going forward, payouts will come twice a year, and be equal to at least 80% of net income before fair value changes of investment property.

Tecom logs AED 2.9 bn in revenues

Business district developer Tecom Group saw AED 1.5 bn in recurring net income last year, up 20% y-o-y, according to its earnings release (pdf). Its bottom line was boosted by an AED 608 mn noncash impairment reversal, which brought final net income to AED 2.1 bn. Revenues came in at AED 2.9 bn, up 19% y-o-y, with portfolio expansion, improved rental rates, and strong occupancy levels driving top-line growth across all its commercial, land, and industrial portfolios. Occupancy levels reached 95% for commercial units, 98% for industrial, and 97% for land lease.

Dividends: The board is proposing a 10% hike in dividends to AED 440 mn for 2H 2025, and aims for an overall dividend payout of AED 880 mn for 2026 — subject to shareholder approval.

NMDC Energy reports AED 1.6 bn in net income

NMDC’s EPC unit NMDC Energy posted a 14% y-o-y rise in net income, reaching AED 1.6 bn in 2025, according to its earnings release (pdf). The growth was underpinned by a 29% y-o-y surge in total revenues to AED 18.7 bn, driven by a capacity expansion, growth in international markets, which accounted for 30% of total revenues.

The group’s overall backlog stood at AED 40.1 bn at the end of the year, with the UAE accounting for 80% of the total. Its pipeline came in at AED 58.6 bn at end-2025, and the firm secured AED 13.9 bn worth of awarded projects in 2025.

It is also set to enter new markets, including Nigeria and Europe, the company’s CEO Ahmed Al Dhaheri told Asharq Business in an interview (watch, runtime: 11:44). NMDC rolled out new offices in Shanghai and Taiwan last year, according to its management and discussion analysis report (pdf).

Dividends: The group will increase dividends by 14% to AED 800 mn, 16 fils per share, for 2025, depending on shareholder approval.

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