4 billion dirhams net income "ADNOC Gas" During the first quarter

Abu Dhabi, 12 May / WAM / ADNOC Gas PLC announced today that it achieved a net income of 4 billion dirhams (1.1 billion US dollars) during the first quarter of 2026, which confirms the flexibility of its operational performance and the strength of its financial position.

The company succeeded in meeting the needs of its customers in the local market, supported by effective management of logistics, inventory and supply chains, which contributed to reducing the impact of the ongoing disturbances in export movement.

Fatima Al Nuaimi, CEO of ADNOC Gas, said that the financial results for the first quarter of this year witnessed impacts resulting from exceptional external disturbances, and the company’s priorities during this period were clear and represented in protecting the company’s personnel and assets, ensuring safe and stable local supplies, in addition to preserving the value it achieves for shareholders through disciplined implementation, pointing out that the results of the first quarter embody the flexibility of the company’s performance, its discipline in managing costs and the strength of its balance sheet.

She added that as the company’s efforts continue to deal with disturbances in maritime traffic through the Strait of Hormuz, the foundations on which ADNOC Gas’s business is based remain solid and strong, and the growth in local demand in the UAE as a result of continuous industrial expansion and the flexibility provided by the advanced production framework contribute to enhancing our confidence in the company’s strategy and its continued commitment to the dividend policy.

The company achieved free cash flows of 2.1 billion dirhams (572 million US dollars), while ending the first quarter with a strong balance sheet that included cash worth 15.4 billion dirhams (4.2 billion US dollars).

This strong financial position allows ADNOC Gas to continue investing across various market cycles, supporting the achievement of its profit expectations for the year 2026, and implementing its commitment to its policy of increasing dividends by 5% annually until 2030.

The company’s board of directors approved the distribution of quarterly dividends of 3.5 billion dirhams ($941 million), which are scheduled to be paid in June 2026.

ADNOC Gas continues to enhance the flexibility of its business, leveraging the strength of its balance sheet and its disciplined approach to capital allocation.

The company’s long-term growth ambitions remain unchanged, with its continued commitment to the goal of increasing EBITDA by more than 40% during the period between 2023 and 2029.

The company maintains a positive outlook on economic growth in the UAE, which supports local demand, which is confirmed by the raw materials supply agreement that was signed with the “Taziz” company worth 5 billion US dollars, in addition to ADNOC’s announcement during the “Make in the Emirates” platform that it aims to award projects worth 200 billion dirhams (55 billion US dollars) to support local manufacturing.

The continued growth in the local customer base and the industrial sector also contributes to enhancing demand for ADNOC Gas products, as it is the largest energy supplier in the country for electricity generation and the industrial sector.

ADNOC Gas recorded two incidents at the Habshan complex on April 3 and 8, which led to the activation of approved emergency response procedures and ensuring business continuity.

The operations teams responded to the two incidents with high efficiency, focusing on prioritizing the safety of individuals and assets and limiting any interruptions in customer supplies. The company was also able to restore about 60% of the complex’s operational capacity within a short period, and is currently working to raise it to 80% by the end of 2026, with a goal of restoring full operational capacity during the year 2027.

The company is currently working on completing a detailed technical assessment to determine the impact of the two incidents in light of the continuing changes in the supply chain environment, and it is expected to be completed soon.

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