UAE’s ADNOC Distribution Reports Net Profit of Dh1.56 Billion

UAE’s ADNOC Distribution Reports Net Profit of Dh1.56 Billion

ADNOC Distribution reported strong first half results for 2022, recording an EBITDA of AED1.99 billion and net profits of AED1.56 billion.

ADNOC Distribution witnessed year-on-year growth in total fuel volumes, up 9% in H1 2022 compared to H1 2021, while the company's corporate fuel volumes recorded sustained growth with a 27% year-on-year increase, underpinned by the UAE's economic growth and driven by the new corporate fuel sales agreements confirmed last year.

The company's non-fuel business also continued to see momentum with customer-centric initiatives, increased traffic at stations, and higher food and beverage sales, resulting in a 10% increase in gross profit for H1 2022 compared to the same period in 2021.