Adnoc listed companies deliver $2.67bn net profit in Q3 2025

OIL AND GAS NEWS

Nov 17, 2025 3:33 PM

Adnoc Group’s listed portfolio companies have reported record financial results for the third quarter and first nine months of 2025, reflecting continued strategic execution, operational excellence, and a firm commitment to delivering long-term value to shareholders.

The performance highlights Adnoc’s integrated approach to growth across its energy and industrial platforms.

Collectively, Adnoc’s publicly traded portfolio companies delivered over $2.67 billion (AED9.43 billion) in net profit for the third quarter of 2025, underscoring their resilient business models and ability to generate robust returns in evolving market conditions.

Adnoc Distribution delivered record results for the third quarter and first nine months of 2025, with Q3 EBITDA rising 15.9% year-on-year to $319 million (AED1.17 billion) and net profit increasing 21.5% to $221 million (AED811 million).

Nine-month EBITDA reached $885 million (AED3.25 billion), up 12.0%, while net profit grew 15.6% to $579 million (AED2.13 billion), supported by strong fuel volumes and continued growth in non-fuel retail. The Company added 85 new stations, raising its full-year target to 90–100, with significant expansion in Saudi Arabia.

Looking ahead, Adnoc Distribution is accelerating its growth strategy through expanded regional presence, enhanced AI-powered operations, and a refreshed non-fuel retail offering.

The Company has proposed extending its dividend policy to 2030, with quarterly distributions starting from Q1 2026, reinforcing its commitment to long-term shareholder value.

Adnoc Drilling delivered record results for the first nine months of 2025, with revenue rising 27% to $3.63 billion (AED13.33 billion), net profit increasing 17% to $1.06 billion (AED3.90 billion) and free cash flow surging 174% to $1.2 billion (AED4.41 billion).

The Board approved a $250 million Q3 2025 dividend, and the company introduced an enhanced dividend policy targeting $6.8 billion in distributions through 2030, reinforcing its commitment to long-term shareholder value.

Looking ahead, Adnoc Drilling is accelerating its growth strategy through planned expanded unconventional drilling and a larger Integrated Drilling Services (IDS) fleet. These initiatives reinforce the company’s position as a key enabler of Adnoc’s upstream ambitions and a driver of future energy security for the UAE.

Borouge posted a 52% quarter-on-quarter increase in net profit to $295 million (AED1.08 billion) in Q3 2025, driven by record production, strong sales, and disciplined cost control.

Adjusted EBITDA rose to $565 million (AED2.07 billion), with a leading margin of 39%, while the company reaffirmed its FY2025 dividend intention of 16.2 fils per share, with the H2 payout expected in April 2026.

The company is progressing its strategic growth agenda, with the Borouge 4 expansion project now over 90% complete and expected to begin operations by year-end.

This milestone, along with continued innovation and digitalization efforts, positions Borouge to enhance capacity, expand market reach, and deliver sustained value to shareholders.

Fertiglobe reported record Q3 2025 results, with revenue up 53% year-on-year to $758 million (AED2,784) and adjusted EBITDA rising 69% to $286 million (AED1,050 million), driven by manufacturing improvements, stronger urea prices, and commercial optimisation.

Adjusted net profit reached $134 million (AED492 million), while reported net profit stood at $235 million (AED 863 million), reflecting one-off tax gains in Egypt.

For the nine-month period, adjusted EBITDA rose 48% to $723 million (AED 2,655 million), and adjusted net profit grew 66% to $218 million (AED801 million).The Company continues to advance its Grow 2030 Strategy, with 38% of targeted EBITDA growth initiatives already actioned.

Key achievements include progress on the Manufacturing Improvement Plan, Adnoc-supported cost reductions, the acquisition of Wengfu Australia and scaling of DEF and AGU production capacity.

Including share buybacks completed to date worth $62 million, total capital returns to shareholders would be at least $287 million for 2025, implying a highly competitive total return to shareholders of at least 5%.

Adnoc Gas reported a net income of $1.34 billion (AED4.9 billion) for Q3 2025, up 8% year-on-year, and domestic gas EBITDA of $914 million (AED3.4 billion), up 26% year-on-year, driven by strong local demand and improved underlying margins.

Revenue for the quarter was $5.93 billion (AED 21.8 billion), slightly lower than Q3 2024 due to softer international prices, while year-to-date net income rose 10% to $3.99 billion (AED 14.7 billion), reflecting the company’s resilient performance and cost discipline.

Adnoc Gas continues to invest in expanding processing capacity and enhancing reliability to support its goal of over 40% EBITDA growth between 2023 and 2029.

Reinforcing its commitment to shareholder returns, the company introduced quarterly dividend distributions, declaring an interim dividend of $896 million (AED3.3 billion) payable by 12 December 2025, alongside a 5% annual dividend growth target through 2030.

Adnoc L&S posted record nine-month 2025 results, with revenue up 39% YoY to $3.7 billion (AED13.6 billion), EBITDA rising 30% to $1.1 billion (AED4.1 billion), and net profit reaching $631 million (AED2.3 billion).

Q3 net profit grew 20% YoY to $211 million (AED773 million), and the FY2025 dividend set to increase ~20% to $325 million (AED1,194 million), with quarterly payouts and 5% annual growth planned through 2030.

The company was also selected for the MSCI Emerging Markets Index, expected to attract over $200 million in passive inflows, effective from 25 November 2025.

Continuing its growth trajectory, Adnoc L&S is expanding its fleet, securing long-term contracts, and investing in innovation, including AI-powered port solutions.

With strong 2025 guidance and capacity to fund an additional $3 billion in growth, the company is reinforcing its position as a global leader in energy maritime logistics.-TradeArabia News Service