ADNOC Distribution, the UAE’s largest fuel and convenience retailer, reported strong financial results for the first half of 2025, with net profit climbing 12.2% year-on-year (YoY) to $358 million, supported by robust fuel volumes, growing non-fuel retail activity, and strategic network expansion.
The company posted its highest-ever H1 EBITDA at $566 million, reflecting a 10% YoY increase, underpinned by strong operational execution and expansion in key regional markets.
Fuel volumes surged to a record 7.62 billion litres in H1 2025, up 5.6% YoY, while non-fuel retail operations delivered a 14.9% increase in gross profit, driven by a 10.4% rise in transaction volumes.
“Our strong H1 2025 results demonstrate the successful execution of our 2024–28 growth strategy,” said Bader Saeed Al Lamki, CEO of ADNOC Distribution. “By leveraging advanced technologies and unlocking new operational efficiencies, we are well-positioned to deliver sustainable, long-term growth and superior returns for our shareholders.”
Expansion Across Borders
The company added 47 new service stations in the first half of 2025, bringing the total network to nearly 940 locations. Notably, ADNOC more than doubled its Saudi network year-on-year, from 69 to 140 stations, leveraging its capital-light Dealer Owned-Company Operated (DOCO) model.
Buoyed by this momentum, ADNOC Distribution has revised its 2025 guidance upward to 60–70 new stations by year-end, with 50–60 of those expected to be in Saudi Arabia.
Diversification Drives Growth
ADNOC’s non-fuel strategy continues to deliver, as its loyalty program, ADNOC Rewards, grew 19.5% YoY, reaching nearly 2.5 million members. In Egypt, the company launched national distribution of its Voyager lubricant line, targeting 3,000 points of sale by 2026.
Meanwhile, its electric vehicle (EV) charging arm, E2GO, achieved a milestone of over 300 installed charging points across the UAE in H1 2025. The network is on track to add 100 new points this year, with a goal of surpassing 500 by 2028.
Tech and Returns
The company deployed ADNOC’s AI-powered board advisory platform, MEERAi, in recent board meetings to support real-time, data-driven governance.
With a net debt-to-EBITDA ratio of 0.80x, ADNOC Distribution reaffirmed its dividend policy, expecting to pay out $700 million annually, or at least 75% of net profit—whichever is higher—through 2028.
A H1 dividend of $350 million is expected in October, subject to board approval, representing a 6% annualised yield based on the share price of AED 3.70 as of August 6, 2025.
–Input WAM
