Dubai: The Abu Dhabi fuel retailer ADNOC Distribution had its best EBITDA ever of Dh3.86 billion as it pumped out 15 billion liters over the course of 2024 to its customers. That’s 8.7% higher fuel outflow than a year ago.
But there was a sizable help from its non-fuel operations too, with a 12.5% increase in gross profit growth through selling food, other consumables and car washing services at its stations.
Net profit before accounting for tax was 2.4% higher at Dh2.66 billion. But provisioning for corporate tax meant a 7% decline in 2024 net profit to Dh2.42 billion.
April dividend pay
Shareholders can expect the next dividend – of Dh1.28 billion for H2-2024 – in April. This is equivalent to 10.28 fils a share.
“This is in line with the company’s 2024-28 dividend policy to distribute an annual dividend of Dh2.57 billion – or at least 75% of net profit, whichever is higher,” said a statement.
Its free cash flow in 2024 reached Dh2.78 billion, which reflects ‘consistent cash generation and solid financial position that supports the commitment to pay $700 million in dividends for 2024’.
