Press releases, Reports & Disclosures for Abu Dhabi National Oil Company For Distribution

ADNOC Distribution reported a robust Q1 2024 growth with an 18% increase in EBITDA to $248 million and a net profit rise to $150 million. The company saw a 17% increase in fuel volumes and a 7% rise in non-fuel retail transactions. It also leveraged AI-driven digital innovation to enhance efficiency and drive value, including predictive fuel demand models and expanding its network of EV charging points. The company's CEO, Eng. Bader Saeed Al Lamki, stated that the results reflect the company's five-year strategy which prioritizes domestic growth, international platforms, and future-proofing the business. The company aims to expand its network to 1,000 stations, increase the number of fast and super-fast EV charging points to at least 500, grow non-fuel transactions by 50%, and increase the number of convenience stores by 25% by 2028.

The text discusses the first quarter 2024 results of ADNOC, highlighting that there has been an increase in underlying profitability. This growth has been driven by a higher fuel volume and optimization of operational expenses (opex). The management discussion and analysis report was released on 9th May 2024.

The text refers to a review report and interim financial information for the three-month period ending 31 March 2024, classified by ADNOC as "need-to-know". The platform is likely used by individuals interested in finance and investing.

The Board of Directors of Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution) held a meeting on May 8, 2024, where they approved the company's financial statements for the first quarter ended March 31, 2024, and discussed other general business matters. The meeting took place at 3:00 p.m. in Abu Dhabi. The Securities and Commodities Authority was also notified.

The Board of Directors of the Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) will hold a meeting on 8th May 2024 at 3:00 p.m. in Abu Dhabi. The agenda for the meeting will include reviewing the Company’s financial statements for the first quarter ended 31st March 2024 and discussing other general business matters.

The Annual General Assembly Meeting of Abu Dhabi National Oil Company for Distribution PJSC, a public joint stock company, was held on 27 March 2024. The meeting was attended in person and virtually by shareholders representing 83.13% of the company's share capital. Mr. Ahmed Alnaqbi attended as a representative of the Securities and Commodities Authority. The meeting was declared quorate by the Chairman, H.E. Dr. Sultan Ahmed Al Jaber. Mr. Ahmad Ma’abreh was appointed as Secretary to the Meeting. First Abu Dhabi Bank and Lumi were appointed as vote collectors. The agenda was then presented by the Secretary.

The Abu Dhabi Securities Exchange received a notification regarding the results of the Annual General Assembly Meeting of Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution). The meeting was held on 27th March 2024. The results of the meeting were attached in the notification. A copy of the notification was also sent to the Securities and Commodities Authority.

The Abu Dhabi National Oil Company for Distribution PJSC (ADNOC Distribution) has shared the results of its annual General Assembly meeting held on March 27, 2024, at 3:00 p.m. The notification was addressed to the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange and copied to the Securities and Commodities Authority. The correspondence was signed by the Board Secretary, Mann El Aydi.

The Board of Directors of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) held a meeting on 27 March 2024. They elected H.E. Dr. Sultan Ahmed Al Jaber as the Chairman and H.E. Ahmed Jasim Al Zaabi as the Deputy Chairman of the Company’s Board of Directors. Mr. Ben Hennessy was appointed as the Board Secretary, effective from 28 March 2024. The board also appointed members to its Board Committees, including the Executive Committee which consists of Mr. Khaled Salmeen as Chairman and six other members.