ADNOC listed companies deliver strong Q1 2026 results

May 17, 2026 / 5:17 PM

Sharjah24-WAM: The listed companies within ADNOC reported resilient financial and operational results in the first quarter of 2026, highlighting the strength of the Group’s integrated and diversified portfolio.

Collectively, ADNOC Distribution, ADNOC Drilling, ADNOC Gas, ADNOC Logistics & Services, Borouge and Fertiglobe generated revenues of $11.8 billion (AED43.4 billion), EBITDA of $3.7 billion (AED13.6 billion) and net profit of $2.2 billion (AED7.9 billion).

Operational resilience amid volatility

The performance reflects diversified revenue streams, disciplined execution and operational efficiency, while supporting energy supply stability amid heightened market volatility and disruptions in the Strait of Hormuz.

ADNOC’s integrated ecosystem helped ensure continuity across energy, industrial and agricultural supply chains through proactive contingency planning and integrated operations.

ADNOC Distribution achieves record EBITDA

ADNOC Distribution reported record first-quarter EBITDA of $307 million (AED1.1 billion), up 12 per cent year on year, while net profit rose 21 per cent to $210 million (AED771 million).

Quarterly revenues reached $2.4 billion (AED8.8 billion), supported by higher fuel volumes, stronger commercial margins, and growth in non-fuel retail and in international operations.

Fuel volumes reached a record 3.82 billion litres, while the company approved its first quarterly dividend of 5.14 fils per share.

ADNOC Drilling posts strongest first quarter

ADNOC Drilling recorded revenues of $1.23 billion (AED4.51 billion) and net profit of $347 million (AED1.27 billion), marking its strongest first-quarter performance to date.

The company maintained full operational continuity throughout the quarter and approved a dividend of $262.5 million.

ADNOC Gas maintains strong performance

ADNOC Gas reported revenue of $5 billion (AED18.4 billion) and EBITDA of $1.8 billion (AED6.7 billion), with net income at $1.1 billion (AED4 billion).

The company also announced a quarterly dividend of $941 million (AED3.5 billion) payable in June 2026 and reaffirmed its long-term growth outlook.

ADNOC L&S benefits from global shipping activity

ADNOC Logistics & Services achieved EBITDA of $368 million (AED1.4 billion) and net profit of $222 million (AED816 million), supported by strong shipping demand and long-term contracted revenue.

The company upgraded its 2026 guidance after strong operational performance.

Borouge and Fertiglobe report resilient growth

Borouge reported revenues of $1.2 billion (AED4.4 billion) and adjusted EBITDA of $343 million (AED1.3 billion), despite logistics challenges in the quarter.

Meanwhile, Fertiglobe reported revenues of $915 million (AED3.4 billion), with adjusted EBITDA up 31 per cent year on year to $342 million (AED1.3 billion).

Fertiglobe’s adjusted net profit nearly doubled to $145 million (AED532 million), underpinned by strong nitrogen market conditions and operational discipline.

Long-term growth and investment plans

ADNOC confirmed that its listed companies continue to receive positive analyst coverage, reflecting confidence in the UAE energy sector and in ADNOC’s diversified portfolio.

During the “Make it with ADNOC” forum, the Group also announced AED200 billion ($55 billion) in project awards for 2026-2028, supporting continued growth and investment across its value chain.