ADNOC Logistics and Services achieved a profit attributable to shareholders of $205.4 million during the third quarter, representing an annual growth of 17.4%, supported by a rise in revenues to more than $1.2 billion, representing a growth of 36.3%.
The company's performance reflects its strategic expansion, particularly in the field of maritime logistics for the energy sector.
During the first nine months of this year, the company's profit rose by 6.6% to $614.7 million, and revenues for the period increased by approximately 38.8% to $3.7 billion.
Financing costs, direct costs, and administrative and general expenses increased, and an allowance for expected credit losses was recorded.
During the period, the share of profit from joint ventures and associates was recorded at approximately $27.4 million, compared to $10 million for the same period last year.
In addition, ADNOC Logistics & Services expects annual revenue growth in the upper 20% range for the current year as a whole, with net income entering low to mid-year double-digit growth.
In a related context, the company’s board of directors approved the distribution of interim cash dividends amounting to $81.25 million for the third quarter period, and the company set November 18 as the last day for purchase.
ADNOC Logistics & Services expects to increase its dividend payout for 2025 by approximately 20% year-on-year to reach $325 million, and intends to maintain an annual dividend increase of 5% until 2030.
ADNOC Logistics and Services was recently added to the Morgan Stanley Capital International Emerging Markets Index, and expects to attract $200 million in cash inflows.
