Abu Dhabi:ADNOC Distribution announced a significant 37% year-on-year rise in net profit, reaching US$791 million in the first nine months of 2026. During the same period, the company's EBITDA grew 26% to US$1.12 billion.
According to Wam, underlying EBITDA also saw a 14% increase year-on-year to US$944 million. This growth reflects the company's strong business fundamentals, with a gross profit of US$1.67 billion supported by higher fuel volumes, inventory gains, and expanding contributions from non-fuel retail and international operations.
Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution, highlighted the company's robust performance and strategic growth initiatives. He noted the importance of scaling higher-margin non-fuel retail opportunities and expanding internationally, including a proposed entry into South Africa, to enhance shareholder value and establish a leading position in global mobility and convenience retail.
ADNOC Distribution's non-fuel retail gross profit grew to US$217 million, driven by a 13% year-on-year increase, supported by its convenience store and property management sectors and a 15% growth in ADNOC Rewards membership. The company also launched Engage by ADNOC, a retail media network leveraging AI and digital transformation strategies to create scalable revenue streams.
The company continued to enhance its network with the addition of 71 new sites, raising its 2026 expansion guidance to 80-90 new stations. ADNOC Distribution also reported record fuel volumes of 11.86 billion litres, with retail volumes contributing 8.26 billion litres. The electric vehicle charging network, E2GO, expanded by 18% year-on-year.
In a strategic move, ADNOC Distribution announced its proposed acquisition of Shell Downstream South Africa, subject to regulatory approvals. This acquisition aims to establish South Africa as the company's fourth operational country, potentially increasing earnings-per-share by 6% in the first year post-completion.
The company's board approved a Q3 dividend of 5.14 fils per share, totaling US$175 million, with payment expected in early December. ADNOC Distribution anticipates exceeding US$700 million in dividends for the full year 2026, in line with its dividend policy. The deadline for participation in the Q3 dividend is set for November 12, with the ex-dividend date on November 13 and the record date on November 16. Payments will be distributed within 30 days of the board meeting.