Adnoc Distribution reports 36% jump in nine-month profit on fuel sales boost
Adnoc Distribution , the UAE's largest fuel and convenience retailer, reported an annual increase of more than 36 per cent in its nine-month net income as volumes of fuel sold rose amid the opening of new stations. Net profit attributable to shareholders for the nine months to the end of September climbed to Dh2.9 billion ($790 million), Adnoc Distribution said on Monday in a filing with the Abu…
Adnoc Distribution, the UAE's largest fuel and convenience retailer, announced a 36% increase in its nine-month net income, reaching Dh2.9 billion ($790 million) for the period ending September. The surge in profits was driven by a 32% rise in revenue to Dh35 billion, thanks to a 1.3% increase in fuel sales to 11.86 billion litres.
The non-fuel retail segment also contributed significantly, with a 13% rise in gross profit to $217 million. Strong performances from convenience stores and property management businesses, as well as the popular The Hub roadside retail concept, boosted the company's revenue. Adnoc Distribution CEO Bader Al Lamki emphasized the company's diversified platform and disciplined execution of its growth strategy, aiming to expand its non-fuel retail opportunities and international presence.
Despite regional challenges, Adnoc Distribution remains on track to open 30 hub sites by 2030 and has revised its 2026 network expansion target to include 80-90 new stations. The company also acquired Shell Downstream South Africa for an implied enterprise value of about $1 billion, moving closer to becoming a global mobility and convenience retailer.
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