ADNOC L&S reports Dhs13.6 billion revenue in nine months

ADNOC Logistics and Services plc on Tuesday announced record-breaking financial results for the first nine months (9M) of 2025, alongside a resilient third quarter (Q3).

For the nine-month period, the company’s revenue surged 39 percent year-on-year (YoY) to $3,705 million (Dhs13,605 million), while EBITDA rose by 30 per cent YoY to $1,123 million (Dhs4,125 million), sustaining EBITDA margin at 30 per cent.

Net profit reached $631 million (Dhs2,317million), up 9 per cent YoY. This strong performance across all business segments reflects the company’s continued strategic expansion in energy-related maritime logistics.

In Q3 2025, the company’s revenue grew 36 per cent YoY to $1,266 million (Dhs4,648 million), EBITDA increased 38 per cent YoY to $379 million (Dhs1,393 million), and net profit rose 20 per cent YoY to $211 million (Dhs773 million).

Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said, “This is our strongest nine-month performance since listing, alongside outstanding quarterly results. Our performance is driven by the strength of our strategy and disciplined execution.

"Our diversified platform, long-term contracts and operational excellence continue to drive sustainable growth. We are expanding capacity, capturing value-accretive opportunities and reinforcing ADNOC L&S’s position as a global leader in energy maritime logistics.”

Starting Q3 2025, ADNOC L&S transitioned to quarterly dividend payouts to provide more frequent returns to shareholders.

The full-year dividend is set to increase by approximately 20 percent YoY to $325 million (Dhs1,194 million), with a planned 5 percent annual increase through 2030, reflecting strong financial performance and long-term growth confidence.

The integrated logistics segment delivered robust performance, with revenues rising 17 per cent YoY to $1,955 million (Dhs7,179 million), reflecting strong demand and strategic growth in key areas.

As a result, EBITDA rose by 26 per cent YoY to $635 million (Dhs2,331 million), highlighting the segment’s significant contribution to the company’s overall results.

Growth was driven by high utilisation and favorable rates for Jack-Up Barges (JUBs), improved margins across the Integrated Logistics Solution Platform (ILSP), and increased chartering activity. The Engineering, Procurement and Construction (EPC) project, including G-Island, also contributed meaningfully to revenue expansion.

Meanwhile, the shipping segment achieved remarkable growth, with revenues soaring 99 per cent YoY to $1,481 million (Dhs5,440 million), largely driven by the consolidation of revenue from the Navig8 tanker fleet.

Despite the challenging market conditions compared to 9M 2024, Shipping EBITDA rose 39 per cent YoY to $438 million (Dhs1,608 million), reflecting strong operational execution. A solid EBITDA margin of 30 per cent further underscores the company’s operational resilience.

The services segment continues to strengthen ADNOC L&S’s diversified business model, with revenues increasing 7 per cent YoY to $269 million (Dhs986 million). EBITDA rose 12 per cent YoY to $51 million (Dhs188 million), primarily driven by higher volumes at the Borouge Container Terminal and the share of profit from Navig8’s bunkering business (Integr8).

WAM