ADNOC Distribution reports Dh2.2 billion net profit for 2021

ADNOC Distribution reports Dh2.2 billion net profit for 2021

Abu Dhabi: ADNOC Distribution, the UAE’s largest fuel and convenience retailer, which is listed on the Abu Dhabi Securities Exchange (ADX), reported that its EBITDA [earnings before interest, taxes, depreciation, and amortization] stood at Dh3.1 billion, with net profit of Dh 2.2 billion for the full year 2021. For the fourth quarter of 2021, EBITDA was Dh802 million, while net profit stood at Dh571 million. The company delivered a resilient financial performance throughout 2021, despite volatility caused by the COVID-19 pandemic. ADNOC Distribution has maintained a strong balance sheet as of 31 December 2021, and remains well-positioned to continue expanding both its domestic and international portfolio in line with its smart growth strategy. “We maintain a robust balance sheet and expect to continue to deliver strong financial performance in the future. This is supported by our ongoing commitment to achieving the highest levels of efficiency, which has become a primary performance indicator across all operations and is now engraved in our company culture,” said Engineer Bader Saeed Al Lamki, Chief Executive Officer, ADNOC Distribution. As of 31 December 2021, the company’s liquidity stood at Dh5 billion in the form of Dh2.3 billion in cash and cash equivalents and Dh2.8 billion