Read The Times Australia

Daily Bulletin

ADNOC Gas announces Q1 net income of $1.27 billion, up 7% year on year, significantly exceeding market expectations

  • Written by: PR Newswire Asia - Daily Bulletin Au RSS
ADNOC Gas announces Q1 net income of $1.27 billion, up 7% year on year, significantly exceeding market expectations

EBITDA of $2.16 billion, up 4% year on year

Performance driven by domestic gas demand and efficient management of planned shut-down program

ADNOC Gas continues to invest through the cycle to achieve its longer-term EBITDA growth target of over 40%

ABU DHABI, UAE, May 5, 2025 /PRNewswire/ -- ADNOC Gas plc and its subsidiaries (together referred to as "ADNOC Gas" or the "Company") (ADX: ADNOCGAS) (ISIN: AEE01195A234), a world-class integrated gas processing and sales company, today announced net income of $1.27 billion and EBITDA of $2.16 billion for the first quarter of 2025, exceeding the equivalent quarter in 2024 by 7% and 4% respectively.

ADNOC Gas announces Q1 net income of $1.27 billion, up 7% year on year, significantly exceeding market expectations ADNOC Gas announces Q1 net income of $1.27 billion, up 7% year on year, significantly exceeding market expectations

The performance was driven firstly by continued demand for domestic gas - up on the equivalent quarter last year - as a result of strong economic growth in the UAE, which lifted the total sales volume. Secondly, through efficient management of the planned shut-down program to boost processing capacity, a reduction in the number of days the Company's plants were offline led to a rise in processed volumes.

Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: "This has been another outstanding quarterly performance by ADNOC Gas, supported by our resilient business model in a lower oil price market, which significantly exceeded market expectations. These results come on the back of successful supply agreements and the optimization of our ongoing shut-down program designed to power our continued growth. Looking ahead, we will use the strength of our balance sheet to invest through the cycle as we seek to realize EBITDA* growth of over 40% between 2023 and 2029."

ADNOC Gas signed a series of mid to long term LNG supply agreements valued at circa $9 billion with the Indian Oil Corporation and JERA Global Markets of Japan during Q1, reinforcing its role as a leading supplier of lower-carbon fuel. The agreements support the growth of the Company's international customer base as well as the transformation of global energy systems. 

Q1 also saw a year-on-year uplift in CAPEX of 43% as ADNOC Gas continues to make the necessary investments through the cycle to grow the business and achieve its longer-term EBITDA targets. Project implementation remains on track, with the Company expecting to take a Final Investment Decision on its Rich Gas Development project in 2025.

As a result of the recently completed marketed offering of 3.1 billion shares in ADNOC Gas in which the free float increased by 4% to 9%, the Company is eligible for potential inclusion in the MSCI and FTSE indices as early as June and September respectively.

$ Million

Q1 24

Q4 24

Q1 25

YoY %

QoQ %

Q1 25 vs. Q1 24

Q1 25 vs. Q4 24

Revenue

6,011

6,060

6,099

1 %

1 %

COGS

-3,410

-3,299

-3,455

1 %

5 %

Opex

-525

-479

-485

-8 %

1 %

EBITDA

2,076

2,282

2,159

4 %

-5 %

Net Inco me

1,187

1,381

1,270

7 %

-8 %

EBITDA Margin

34.5 %

37.7 %

35.4 %

87bps

-226bps

Net Income Margin

19.7 %

22.8 %

20.8 %

107bps

-197bps

Free Cash Flow

(ex-working capital)

1,144

965

1,214

6 %

26 %

Alternative performance measures:

•  Financial information as presented above includes ADNOC Gas' proportionate consolidation ofJVs financial results.

•  EBITDA includes proportionate consolidation of JVs and represents Earnings Before Interest, Tax, Depreciation and Amortization.

•  Free cash flow (excluding working capital) as presented is based on the IFRS financial statements.

•  The reconciliation between the financial data as presented and the IFRS financial statements ispresented in the Management Discussion & Analysis Report.

*Assumes a flat oil price of $70/bbl between 2025 and 2029 and, in addition, the proportional consolidation of Ruwais LNG following completion and transfer to ADNOC Gas.

About ADNOC Gas

ADNOC Gas, listed on the ADX (ADX symbol: "ADNOCGAS" / ISIN: "AEE01195A234"), is a world-class, large-scale integrated gas processing and sales company operating across the gas value chain, from receipt of feedstock from ADNOC through large, long-life operations for gas processing and fractionation to the sale of products to domestic and international customers. ADNOC Gas supplies approximately 60% of the UAE's sales gas needs and supplies end-customers in over 20 countries.  To find out more, visit: www.adnocgas.ae

(X) @ADNOCGas

For investor inquiries, please contact: Christian Audi Vice President, Investor Relations+971 (2) 6037366ir@adnocgas.ae

 

Authors: PR Newswire Asia - Daily Bulletin Au RSS

Read more https://www.prnasia.com/story/archive/4679525_AE79525_0

Business News

Options Available When a Company Faces Financial Distress

Financial distress can develop gradually or arrive suddenly, and when it does, the decisions made in the early stages often determine what options remain available later. Directors who act promptly ...

Daily Bulletin - avatar Daily Bulletin

What Healthcare Teams Look for When Choosing Specialist Surgical Supplies

In clinical environments, small details rarely stay small. A delayed instrument, a poorly matched device or inconsistent supply quality can affect theatre flow, staff confidence and patient outcomes. ...

Daily Bulletin - avatar Daily Bulletin

Reducing Sales Friction Through Centralized Content Delivery

Sales friction appears whenever buyers or sales teams face unnecessary obstacles in the buying journey. It can happen when information is hard to find, when messaging feels inconsistent, when product ...

Daily Bulletin - avatar Daily Bulletin

Why Choosing the Right Bollard Supplier Matters for Australian Businesses and Public Spaces

From busy CBD streetscapes to sprawling warehouse loading docks, bollards have become one of the most essential safety and security fixtures across Australia. Whether protecting pedestrians from veh...

Daily Bulletin - avatar Daily Bulletin

Why Modular Content Is Transforming Modern Marketing Teams

Modern marketing teams are expected to produce more content than ever before. They need to support websites, landing pages, email campaigns, social channels, product pages, sales enablement material...

Daily Bulletin - avatar Daily Bulletin

Everything You Need to Know About Getting Support from Optus

Whether you've been an Optus customer for years or you've just switched over, at some point you'll probably need to contact their support team. Maybe your bill looks different from what you expected. ...

Daily Bulletin - avatar Daily Bulletin

The Marketing Strategy That’s Quietly Draining Sydney Business Owners’ Bank Accounts

Sydney businesses are investing more in digital marketing than ever before. The intention is clear. More visibility should mean more leads, more customers, and steady growth. However, many business ...

Daily Bulletin - avatar Daily Bulletin

Why Mining Hose Solutions Are Essential For High-Performance Industrial Operations

In environments where the ground itself is constantly shifting, breaking, and being reshaped, every component must be built to endure. Mining operations are among the most demanding in the industria...

Daily Bulletin - avatar Daily Bulletin

The Reason Talented Teams Underperform

If you’re in business, you might have seen it before. A team of capable and smart people just suddenly slows down, and things start spiraling out of control. On paper, everything looks perfect, but ...

Daily Bulletin - avatar Daily Bulletin

The Daily Magazine

Why Stress Relief For Dogs Is Essential For Emotional Balance And Long-Term Wellbeing

Managing emotional health is just as important as physical care when it comes to pets, which is why ...

Australia’s Best Walking Trails and the Shoes You Need to Tackle Them

Australia is not short on spectacular walks. You can follow ocean cliffs in Victoria, cross ancien...

Why Pre-Purchase Building Inspections Are Essential Before Buying a Home in Australia

source Have you ever walked through an open home and started picturing your furniture, family d...

5 Signs Your Car Needs Immediate Attention Before It Breaks Down

Car problems rarely appear without warning. In most cases, your vehicle gives clear signals before...

Ensuring Safety and Efficiency with Professional Electrical Solutions

For businesses in Newcastle, a safe and fully functioning workplace remains a key part of day-to-d...

Choosing The Right Bin Hire Solution For Hassle-Free Waste Management

When it comes to managing waste efficiently, finding the right solution can save both time and eff...

Why Cleanliness Is Critical In Childcare Environments

Children explore the world with curiosity, often touching surfaces, sharing toys, and interacting ...

What to Look for in a Reliable Australian Engineering Partner

Choosing an engineering partner is rarely just about technical capability. Most businesses can fin...

How to Choose a Funeral Home That Supports Families with Care

Choosing a funeral home is rarely something families do under ideal circumstances. It often happen...