“ADNOC Supply and Services” distributes profits exceeding one billion dirhams for 2024

ADNOC Supply and Services Company BLC announced the approval of the shareholders on all the items of the agenda at the annual general assembly meeting, including the payment of final profits for the past year, at a value of 501.3 million dirhams, which raises the total profit distributions of 2024 to more than one billion dirhams, an increase of 5% on an annual basis, in line with the policy The interim. The profits will be paid to the company’s registered shareholders until the date of April 3, 2025.
“The year 2024 constituted an important development phase for (ADNOC Supply and Services), as the company achieved an accelerated global expansion and record financial financial performance, and took ambitious strategic steps.”
He added that the company continued to strengthen its fleet, and completed a record acquisition of the company “Navig 8” with a value of 3.7 billion dirhams, which contributed to the consolidation of its global presence and the expansion of its operational capabilities significantly, pointing out that the company was able, thanks to its distinguished performance during 2024, to achieve an exceptional value for the shareholders, an increase of 5 % in full annual profit distributions while continuing to advance the sustainability wheel, Innovation, and strengthening its leadership in the sector.
He stated that, given the future, “ADNOC supply and services” will benefit from its pioneering position to continue to achieve organic growth, as well as implementing strategic acquisitions, investing in the latest technologies, and based on its growing fleet of modern and developed ships, and its firm commitment to raising efficiency and enhancing sustainability standards, the company will continue to focus on ensuring the arrival of “ADNOC” energy products to the world, And contributing to achieving the economic aspirations of the UAE, as the momentum that we achieved during the past year contributed to establishing a more successful and innovative future.
The company’s revenues increased by 29% on an annual basis to exceed 13 billion dirhams, while net profits increased by 22% to 2.7 billion dirhams. The profits were also recorded before deducting interest, taxes, destruction and consumption, by 31%, which reflects the company’s ability to expand and achieve profitability at the same time.