Abu Dhabi – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) has reported a 26.6% rise in net profits to AED 1.152 billion during the first half (H1) of 2021, compared to AED 910 million in the same half of 2020.
The company generated revenues of AED 9.301 billion in the January-June period of 2021, up 16.9% from AED 7.956 billion in the year-ago period, according to a press release on Tuesday.
The earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 21.8% to AED 1.528 billion in H1-21 from AED 1.255 billion in the corresponding half of 2020.
The earnings per share (EPS) settled at AED 0.092 in the first six months of 2021, versus AED 0.073 in the same period of 2020.
Meanwhile, cash dividends of AED 1.285 billion or 10.285 fils per share for H1-21 are expected to be paid in October 2021, subject to the board's approval.
During the second quarter (Q2) of 2021, the company's net profits rose by 2.1% year-on-year (YoY) to AED 521 million.
The CEO of ADNOC Distribution, Bader Al Lamki, said: "ADNOC Distribution’s second quarter and half-year results further reinforce the company’s growth story and its strong standing within the fuel retail sector."
Al Lamki remarked: "ADNOC Distribution is well-positioned to capitalise on a number of exciting opportunities and partnerships, both this year, and well into the future."
It is noteworthy to mention that in the first quarter (Q1) of 2021, ADNOC Distribution recorded a 57.9% rise in net profits to AED 631 million from AED 400 million in the year-ago period.
