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ADNOC Logistics and Services plc on Wednesday announced its fourth quarter (Q4) and full-year 2024 financial results, reporting revenue of $3,549 million (AED13,035 million) for the year, up 29 percent compared to 2023.
EBITDA rose by 31 percent to $1,149 million (AED4,219 million) in the same period, driven by robust performance across all business segments, sustaining EBITDA margins at 32 percent. Net profit for the year was $756 million (AED2,777 million), equating to $0.10 (AED0.38) per share, an increase of 22 percent compared to the previous year.
The company’s Q4 revenue increased by 6 percent year-on-year (y-o-y) to $881 million (AED3,237 million), with EBITDA up by 17 percent y-o-y to $282 million (AED1,035 million). Net profit for Q4 grew 9 percent y-o-y to $180 million (AED660 million).
Revenues from the Integrated Logistics segment increased to $2,281 million (AED8,377 million), up 40 percent in FY 2023.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said, “We have delivered strong growth in financial returns to shareholders once again in 2024, driven by robust performance across all business segments.”