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

ADNOC Distribution has reported a net profit growing by 15.6 per cent year-on-year to $579 million in the first nine months, with an EBITDA increase of 12 per cent to $885 million, its strongest performance since listing in 2017.

In the third quarter of the year, the company reached a new quarterly EBITDA record of $319 million, an increase of 15.9 per cent year-on-year, with a strong growth of 21.5 per cent 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 per cent year-on-year 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 the first quarter of 2026.

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

Non-fuel retail continued to deliver strong momentum in Q3 of 2025, with gross profit growing by 14.7 per cent 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 per cent year-on-year increase, as well as the highest nine-month convenience store conversion rate since 2021 at 26.2 per cent, marking a year-on-year increase of 65 basis points.