RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2019-08-05 13:05:00

ADNOC NET PROFIT AED1.173 BLN

ADNOC NET PROFIT AED1.173 BLN

ENA - ABU DHABI, 4th August, 2019 (WAM) -- ADNOC Distribution today reported that its first-half 2019 net profit increased by 4.3 percent, to AED1.173 billion, compared with the same period last year.

Free cash flow (EBITDA minus capital expenditures) generation was up 21 percent year-on-year to AED1.345 billion in the first half of 2019. For the second quarter of 2019, EBITDA was AED750 million and net profit was AED 595 million, up 1.3 percent and 2.2 percent, respectively, compared to the second quarter of 2018.

Excluding inventory gains, underlying EBITDA for the first half of 2019 grew by 11 percent compared to H1 2018, to AED1.364 billion, driven by improved cost efficiencies and the positive results of the company's convenience store revitalisation programme, which is on track and is contributing to improvements in gross margins and an uplift in average basket size by 6.8 percent in the first half of 2019 compared to the first half of 2018.

Non-fuel retail gross profit increased by 10 percent in the first half of 2019 compared to the first half of 2018. The company's EBITDA margin has also shown continued momentum, reaching 14.4 percent in the first half of 2019, up from 13.2 percent during the same period last year.

Commenting on the results, ADNOC Distribution's Acting CEO Saeed Mubarak Al Rashdi, said, "Thanks to an unwavering focus on our customers, the strength of our business model, and the successful execution of our strategic initiatives, we have once again delivered solid results in the first half of 2019. During the remainder of 2019, we are focused on the acceleration of our domestic network expansion, particularly in Dubai, and the growth of our non-fuel business to provide a superior experience to our customers."

"Our priorities remain growth and shareholder returns underpinned by our progressive dividend policy. As previously announced, we intend to boost top-line growth in both our fuel and non-fuel businesses, and have targeted in excess of AED3.67 billion of EBITDA by 2023," he added.

In April 2019, ADNOC Distribution announced new dividend policy, representing an increase of 63 percent in the annual dividend for 2019 (AED2.39 billion) and 75 percent for 2020 (AED2.57 billion) compared to 2018. The company expects to pay the interim dividend of 2019 in October of this year, subject to board approval.

-----


Earlier:

ADNOC NET PROFIT AED1.173 BLN
2019, August, 1, 12:05:00
ADNOC, ENI DEAL $3.24 BLN
Eni and ADNOC announced that they have closed their strategic partnership, announced in January, through which Eni acquired a 20% equity interest in ADNOC refining. The final cash price is approximately $3.24bn. The partners, which include Austria’s OMV, also set up a new trading joint venture.
ADNOC NET PROFIT AED1.173 BLN
2019, July, 25, 20:10:00
ADNOC, CNOOC AGREEMENT
ADNOC and CNOOC signed an agreement to collaborate in the upstream and downstream oil and gas sector
ADNOC NET PROFIT AED1.173 BLN
2019, July, 25, 20:05:00
ADNOC, PERTAMINA AGREEMENT $2.5 BLN
ADNOC has signed an agreement with Indonesia's state energy company Pertamina to collaborate in both countries and internationally. Indonesia' foreign ministry said that the partnership could be worth up to $2.5bn.
ADNOC NET PROFIT AED1.173 BLN
2019, July, 12, 08:25:00
СОТРУДНИЧЕСТВО РОССИИ, ОАЭ
Энергетическое сотрудничество России и ОАЭ активно развивается и обладает колоссальным потенциалом, отметил Александр Новак.
ADNOC NET PROFIT AED1.173 BLN
2019, July, 12, 08:15:00
ADNOC, RUSSIA INVESTMENT
ADNOC Group CEO Dr. Sultan Al Jaber met with Russian Energy Minister Alexander Novak in Moscow as ADNOC looks to expand its partnership and investment base.
All Publications »
Tags: ADNOC, UAE
Chronicle:
ADNOC NET PROFIT AED1.173 BLN
2021, August, 2, 12:19:00
HYDROGEN RUSSIA AND CIS, Moscow, 20-21 October 2021
International Conference and Exhibition ‘Hydrogen Russia and CIS’ brings together more than 200 senior executives of hydrogen production plants from Russia and the CIS
ADNOC NET PROFIT AED1.173 BLN
2021, August, 2, 12:18:00
ИНВЕСТИЦИОННЫЕ ПРОЕКТЫ УГОЛЬНЫХ ПРЕДПРИЯТИЙ РОССИИ
Команда Восток Капитал подготовила отчет по инвестиционным проектам угольных предприятий России, в котором представлены: Проекты по строительству новых угольных шахт и обогатительных фабрик Проекты по реконструкции существующих угольных разрезов Проекты по строительству и реконструкции морских портов и сопутствующей инфраструктуры
ADNOC NET PROFIT AED1.173 BLN
2021, August, 2, 12:15:00
NOVATEK PRODUCTION +7.8%
In the second quarter 2021, NOVATEK’s hydrocarbon production totaled 156.6 million barrels of oil equivalent (boe)
ADNOC NET PROFIT AED1.173 BLN
2021, August, 2, 12:10:00
U.S. RIGS DOWN 3 TO 488
U.S. Rig Count is down 3 from last week to 488, Canada Rig Count is up 4 from last week to 153.
ADNOC NET PROFIT AED1.173 BLN
2021, July, 30, 08:40:00
OIL PRICE: ABOVE $75
Brent fell 45 cents, or 0.6%, to $75.60 a barrel, WTIfell 43 cents, or 0.6%, to $73.19 a barrel.
ADNOC NET PROFIT AED1.173 BLN
2021, July, 30, 08:35:00
RUSSIA'S NUCLEAR FOR EGYPT
Al-Araby Al-Jadeed reported on 19 July that Egypt had suspended planned meetings with Rosatom, again citing tensions over GERD.
ADNOC NET PROFIT AED1.173 BLN
2021, July, 30, 08:30:00
AMR NUCLEAR FOR BRITAIN
“With over 50 years’ experience of operating the world’s only commercial fleet of gas-cooled nuclear reactors, as well as sodium fast, steam generating heavy water and light water reactors, the UK uniquely boasts the skills, talent and capability to deliver advanced nuclear technologies and the entire supply chain that enables them.
All Publications »