Adnoc’s listed companies deliver $25.3 billion revenue in H1 of 2026

Adnoc’s listed companies delivered combined revenue of $25.3 billion (Dhs93.0 billion) in the first half of 2026, while advancing a series of major growth investments that strengthen the earnings outlook across the portfolio.Collectively, Adnoc Distribution, Adnoc Drilling, Adnoc Gas, Adnoc Logistics & Services (Adnoc L&S), Borouge and Fertiglobe delivered revenues of $25.3 billion (Dhs93.0 billion), EBITDA of $7.8 billion (Dhs28.7 billion) and net profit of $4.8 billion (Dhs17.7 billion), supported by diversified revenue streams, disciplined execution and a continued focus on operational safety and efficiency.The period also marked significant progress across the portfolio’s growth agenda. Adnoc Gas awarded $8.2 billion in EPC contracts for its Rich Gas Development Project, raising its targeted EBITDA growth to 60 per cent by 2030.Adnoc Distribution is progressing the proposed acquisition of Shell’s downstream business in South Africa, subject to regulatory approvals, while Adnoc L&S raised its full-year 2026 guidance for the third time.Adnoc Drilling deployed its first AI-enabled island rig ahead of schedule, Borouge brought the first Borouge 4 facility into commercial operation, and Fertiglobe continued to execute its 2030 growth strategy, supported by XRG.Performance across the portfolio reflected resilient operations, supply chain agility and disciplined execution, enabling the companies to maintain reliable customer supply through a period of regional and logistics disruption.In the first half of 2026, Adnoc Distribution delivered record results, with net profit rising 59 percent year-on-year to $568 million (Dhs2.1 billion), while reported EBITDA increased 39 percent to $786 million (Dhs2.9 billion) and underlying EBITDA increased 14 percent to $603 million (Dhs2.2 billion).Performance was supported by record fuel volumes, continued network expansion, inventory gains and sustained growth in the higher-margin non-fuel retail segment.Fuel volumes reached a record 7.75 billion litres, supported by network expansion and resilient retail and commercial demand, while Adnoc Distribution’s fuel retail network across the UAE, Saudi Arabia and Egypt increased to 1,045 service stations, up 11 percent year-on-year.Non-fuel retail gross profit increased 12 per cent, supported by higher footfall, increased transactions and an expanded food and convenience offering. The Hub by Adnoc supported non-fuel retail growth during the period.The Board approved a Q2 2026 dividend of 5.14 fils per share, equivalent to $175 million, payable in September. Upon payment of the Q2 dividend, Adnoc Distribution will have distributed an estimated $5.8 billion (Dhs21.5 billion) in dividends since its IPO.The company is progressing the proposed acquisition of Shell’s downstream business in South Africa, subject to regulatory approvals.In the first half of 2026, Adnoc Drilling delivered record revenue of $2.46 billion (Dhs9.04 billion), up 4 percent year-on-year, while EBITDA increased 1 percent to $1.08 billion (Dhs3.98 billion) and net profit rose 2 percent to $706 million (Dhs2.59 billion). Return on equity remained at an industry-leading 34 percent.WAM

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Gulf Today - Business · Business News

Published

13th August 2026

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gulftoday.ae

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