816 million dirhams net profits "ADNOC Logistics and Services" During the first quarter, a growth of 20%
Abu Dhabi, May 14 / WAM / ADNOC Logistics and Services PLC announced achieving strong financial performance during the first quarter of 2026, confirming the success of its diversified business model and its broad global presence.
The company recorded earnings before interest, taxes, depreciation and amortization of 1.35 billion dirhams ($368 million), during the first three months of 2026, an increase of 7% on an annual basis, with the profit margin rising to 34%, an increase of 5 percentage points on an annual basis.
Net profit also increased by 20% year-on-year to reach 816 million dirhams ($222 million).
The company’s revenues during the same period amounted to 3.97 billion dirhams ($1.08 billion), while the huge “Al Omeira” Island project was delivered to “ADNOC Offshore” during the last quarter of 2025.
Captain Abdul Karim Al Musabi, CEO of ADNOC Logistics and Services, said that the company achieved growth in the results of the first quarter in light of the challenges witnessed by the markets, as its diversified business model continued to achieve the expected performance despite the disturbances that affected maritime traffic through the Strait of Hormuz, and the company succeeded in consolidating its position in the world thanks to the flexibility of its operations, its revenues from long-term contracts, and the integration of its business portfolio.
The rise in global shipping prices contributed to offsetting the impact of the disruptions that affected international shipping movement through the Strait of Hormuz. The company also continues to benefit from long-term contracted revenues, which represent about 60% of the combined revenues of ADNOC Logistics and Services and the joint venture with AW Shipping, which enhances the clarity of the future vision of profits and cash flows.
ADNOC Logistics and Services raised its financial guidance for the full year 2026, based on actual performance until April 2026 and improved expectations for freight market fundamentals.
The updated assumptions as of May reflect supportive supply and demand dynamics, while maintaining a cautious and conservative approach compared to prevailing market rates, while marine contracting business guidance remains conservative while assuming minimal levels of activity in light of regional uncertainty.
The company continues to focus on disciplined, value-enhancing investing to support future revenue and cash flow growth.
The delivery of an additional new generation LNG tanker before the scheduled delivery date of March 2026 also reflects the continued implementation of the company’s growth strategy, and the strengthening of its operational capabilities to support long-term value for shareholders and ADNOC’s growing supply chain in the global energy sector.
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