Abu Dhabi – Mubasher: Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) reported a 6.3% rise in net profits to AED 1.681 billion during the first nine months of 2021, compared to AED 1.581 billion in the year-ago period, as shown by the company's unaudited interim consolidated financials for the nine-month period ended 30 September 2021.
The company generated revenues of AED 14.698 billion in the January-September period of 2021, up 22.6% year-on-year (YoY) from AED 11.986 billion.
The fuel distributor recorded AED 2.265 billion earnings before interest, tax, depreciation, and amortisation (EBITDA) in the first nine months of 2021, 6.2% higher than AED 2.134 billion in the same period of the previous year.
The basic and diluted earnings per share (EPS) stood at AED 0.134 in this year's first nine months, against AED 0.126 in the corresponding period of 2020.
During the third quarter (Q3) of 2021, the company's net profits decreased by 21.2% YoY to AED 529 million from AED 671 million.
The Chief Executive Officer of ADNOC Distribution, Bader Saeed Al Lamki, said: "We will continue to deliver on our expansion plans, domestically and internationally, which positions us as an even stronger fuel and convenience retail leader in the UAE and cements our place as a global fuel retailer."
Al Lamki commented: "Looking ahead, we expect our growth trend to accelerate driven by strengthening economic recovery and an increase in visitors heading into the holiday season, Expo 2020, and a number of sporting events being hosted by the UAE."
It is noteworthy to mention that during the first half (H1) of 2021, the company reported a 26.6% rise in net profits to AED 1.152 billion, compared to AED 910 million in the same half of 2020.
