The companies of the ADNOC Group, which is listed in the Abu Dhabi Securities Market, achieved strong financial results for the year 2024, as the six companies registered grouped revenues of 182.4 billion dirhams, profits before deducting interest, tax, consumption and firefighting amounted to 58.7 billion dirhams, and net profits of more than 33 billion dirhams For 2024.
The six companies distributed annual cash profits with a total value of 24.6 billion dirhams to their shareholders, after obtaining their approval.
Strong financial performance enhances the basis of sustainable growth of the six companies in their continuous endeavor to implement their strategies and follow -up multi -faceted initiatives to achieve profitable growth and attractive returns for shareholders.
ADNOC Distribution achieved record profits before deducting interest, tax, consumption and firefighting, amounting to 3.85 billion dirhams for the year 2024, an increase of 4.8% on an annual basis.
This strong performance comes as a result of the increase in the quantities of fuel sold and the remarkable growth of the non -fuel retail sector, in addition to growth in international markets that include Saudi Arabia and Egypt.
The company’s board of directors also recommended the distribution of cash dividends of 1.28 billion dirhams for the second half of 2024, and these profits are scheduled to be distributed in April 2025, after obtaining the approval of the shareholders.
ADNOC Drilling Company achieved record financial results for the year 2024, as its revenues amounted to more than 14.7 billion dirhams, with a growth of 32% on an annual basis, while the net profit for the entire year reached 4.8 billion dirhams, an increase of 26% on an annual basis.
It is expected that the total profit distributions of the company will reach 2.9 billion dirhams for the year 2024, which represents an increase of 10% over the year 2023, after the company’s board of directors recommended distributing final cash profits of 1.4 billion dirhams to be paid in April 2025, after obtaining approval Shareholders.
The “ADNOC Gas” for the entire fiscal year 2024 also achieved a net profit of 18.35 billion dirhams, and the strong financial performance of the company in 2024 was translated into strong growth in profits before deducting interest, taxes, destruction and consumption by 14% on an annual basis to reach 31.75 billion dirhams.
The Board of Directors of ADNOC Gas confirmed its profits of more than 12.5 billion dirhams, for the fiscal year 2024, as it made phased cash distributions of 6.26 billion dirhams in September 2024 and an additional 6.26 billion dirhams will be paid in April 2025, after obtaining the approval of the shareholders.
The revenues of the “ADNOC Supply and Services Company” for 2024 amounted to 29% on an annual basis, and the net profit reached 2.8 billion dirhams, recording an increase of 22% on an annual basis, driven by the exceptional performance of the company across all business sectors.
The company aims to distribute a total profit worth more than one billion dirhams for the fiscal year 2024 completely, with a recommendation to distribute profits of 500 million dirhams for the second half of 2024. It is expected to be paid in April 2025, in addition to the profit distributions of 500 million dirhams for the first half From 2024, which was already distributed to shareholders.
Bruges achieved distinguished financial results during the year 2024, recording a 24% increase on an annual basis in its net profit to reach 4.55 billion dirhams, supported by record production and sales sizes.
The company also achieved a profit margin before deducting interest, taxes, destruction and consumption by 41% for the year 2024, driven by the annual revenue increasing by 4% to 22 billion dirhams.
Bruges also intends to pay the total total profits of 2024 with a value of 4.8 billion dirhams, as it distributed phased cash profits to the shareholders of 2.4 billion dirhams for the first half of last year. An additional 2.4 billion dirhams in April 2025 will be planned after obtaining the approval of the shareholders.
The company “Vertigloop” made modified profits before deducting interest, taxes, depreciation and consumption for the year 2024 of 2.4 billion dirhams, while the company’s revenues amounted to 7.3 billion dirhams.
The Board of Directors of “Vertigloop” also recommended the distribution of profits for the second half of 2024 at a value of 458.75 million dirhams, subject to the approval of the shareholders, raising the total profits distributed from the year 2024 to more than one billion dirhams, and indicates a return of 5%.
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