10.6% increase in the quantities of fuel sold during September 2021 compared to August

1.7 billion dirhams, net profit of "ADNOC Distribution" in 9 months

ADNOC Distribution operates 459 service stations across the country.

From the source

ADNOC Distribution announced yesterday its financial results for the first nine months of this year, recording basic profits before interest, tax, depreciation and amortization of 2.3 billion dirhams, while the company's net profit amounted to 1.7 billion dirhams.

The company explained in a statement that during the third quarter, earnings before interest, tax, depreciation and amortization amounted to 737 million dirhams, while the net profit amounted to 529 million dirhams.

recovery

The company witnessed a continuous recovery in the total quantities of fuel sold last September, which increased by 10.6% compared to August, following the easing of restrictions on movement and the successful vaccination campaign that took place throughout the UAE.

The company also recorded an increase in the quantities of fuel sold at its stations in the Emirate of Dubai, as the company currently operates 31 service stations in the emirate, while managing 459 service stations throughout the UAE, as of September 30, 2021.

sales

The company’s commercial sector continued to implement a proactive sales strategy, including continuing to expand internationally in the distribution of “ADNOC Voyager” lubricants by adopting new distributors in the third quarter of 2021, as the volume of exports has so far increased to double the level of exports in 2020.

The non-fuel retail sector witnessed a steady improvement, with gross profit increasing by 3% in the third quarter of 2021, compared to the same period in 2020, helped by the retail store renewal program in addition to the launch of attractive promotional campaigns through the “ADNOC Rewards” program. .

expenses

On the operational side, and within the qualitative leap implemented by the company, ADNOC Distribution confirmed its commitment to reducing operating expenses and enhancing its competitiveness in the fuel sector and retail stores in the UAE.

During the first nine months of 2021, the company's operating expenses decreased by 17.8% compared to the same period in 2020, despite the expansion of the company's station networks.

Saudi market

In addition, ADNOC Distribution obtained a no-objection certificate from the General Authority for Competition in Saudi Arabia to acquire 35 service stations in the Kingdom.

The company continued its expansion in the Saudi market by adding 10 new service stations as on November 8, 2021, and planning to open a total of (40-45) service stations during 2021.

Outstanding experience

Bader Saeed Al Lamki, CEO of ADNOC Distribution, said, "Our company represents a distinguished investment experience, which is confirmed by the recent financial results, and we are optimistic about the future with clear indicators of growth and the start of recovery from the (Covid-19) pandemic."

He added, "We will continue to focus on our expansion plans locally and internationally to strengthen our position as a leading fuel distribution and retail company in the UAE, and as a global distributor of fuel."

New stations

During the first nine months of this year, ADNOC Distribution continued to fulfill its promise to provide digital and modern refueling and shopping services to its customers and the local areas it serves, as it opened 14 new service stations in the UAE, while witnessing the renewal of ADNOC Oasis stores. Completed renovation of 35 stores across the country.

• The company currently operates 31 service stations in Dubai.

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