ADNOC Distribution Net Profit Climbs 37% to Dh2.90 Billion
ADNOC Distribution reported a 37 per cent increase in net profit to Dh2.90 billion ($791 million) for the first nine months of 2026, driven by record fuel volumes and network expansion across the region. Financial markets and institutional shareholders noted the surge as fuel retailers and non-fuel segments accelerated growth through the third quarter.
Gross profit for the period increased 20 per cent to Dh6.12 billion ($1.67 billion), while total fuel volumes reached a record 11.86 billion litres, including 8.26 billion litres processed through retail channels. EBITDA climbed 26 per cent to Dh4.10 billion ($1.12 billion), and underlying EBITDA grew 14 per cent to Dh3.47 billion ($944 million).
Non-fuel retail gross profit rose 13 per cent to Dh797 million ($217 million), outpacing fuel retail gross profit growth. Convenience stores and property management led this segment, alongside a 15 per cent increase in ADNOC Rewards membership.
Chief Executive Officer Engineer Bader Saeed Al Lamki stated that the financial results reflect the company’s strategic push into higher-margin businesses and international expansion. Al Lamki noted that the group is transforming into a leading international mobility and convenience retailer, highlighting a proposed acquisition of Shell Downstream South Africa as a key step in its international strategy.
To support network growth, ADNOC Distribution opened 71 new stations during the nine-month period, meeting its original full-year target ahead of schedule. The company subsequently raised its full-year guidance to between 80 and 90 new stations, bringing its total operational site count to 1,081.
Reflecting the strong financial performance, the board approved a third-quarter dividend of 5.14 fils per share, valued at Dh643 million ($175 million). Shareholders must hold shares by November 12 to qualify for the payout, which carries an ex-dividend date of November 13 and a record date of November 16, with distribution scheduled for early December. Full-year dividends are projected to exceed $700 million, aligning with a distribution policy set for 2026 through 2030.
