ADNOC Distribution Q3, first nine months 2020 results demonstrate continued resilience and growth

ADNOC Distribution Q3, first nine months 2020 results demonstrate continued resilience and growth

ADNOC Distribution reported that its underlying EBITDA for the first nine months of 2020 grew to $695mn, with net profit of $430mn. For the third quarter, underlying EBITDA was $308mn, while net profit stood at $183mn. Free cash flow generation remained solid during the third quarter.The ompany demonstrated a resilient and steadfast focus on smart growth in the first nine months of the year, despite continued market uncertainty caused by the Covid-19 pandemic.ADNOC Distribution maintains a robust balance sheet and remains well-positioned to expand both its domestic and international portfolio in-line with its smart growth strategy. As of 30 September 2020, the company's liquidity was at $1.8bn in the form of $1.1bn in cash and cash equivalents and $750mn in unutilised credit