ADNOC Logistics & Services plc

Logotype for ADNOC Logistics & Services plc
Ticker/ISIN
ADNOCLS
AEE01268A239
Market/Country
Abu Dhabi Stock Exchange
United Arab Emirates
Latest Stock Price
4.10 AED
2024-02-21

Year to date

0.07 %

3 months

0.00 %

6 months

0.00 %

1 year

0.00 %

3 years

0.00 %

5 years

0.00 %

We are a global energy maritime logistics leader and the dedicated and vital logistics arm for the ADNOC Group providing critical and highly specialised services across ADNOC’s entire value chain. We provide market-leading, reliable and cost-competitive maritime and logistics solutions through our three key business-units: • Integrated Logistics. • Shipping. • Marine Services. We provide services to over 100 global clients with whom we built long-standing relationships and ship to more than 50 countries across the world. We have a well-defined and ambitious growth strategy aimed at accelerating our growth by leveraging our existing relationship with the ADNOC Group companies. We expect this to serve as a major growth catalyst for us and we expect to benefit from ADNOC’s planned growth and investment strategy to accelerate its targeted capital expenditure as ADNOC is aiming to meet upstream growth ambitions through the expansion of oil production capacity, the development of new gas reservoirs, the continuous exploration of new hydrocarbon prospects in addition to targeted expansion of its refining and petrochemical capacity, LNG exports and hydrogen production. We have a strong leadership team based in Abu Dhabi which allows us to optimise operational and commercial processes in order to deliver efficiencies across the entire organisation.

Latest Pressrelease Summaries

On 2 October 2024, the Market Operations & Surveillance section of the Abu Dhabi Securities Exchange received a notification from ADNOC Logistics & Services plc. The company announced that its Board of Directors will pass a written resolution by circulation on Monday, 7 October 2024, at 6:00 PM UAE time. The resolution aims to consider and approve the interim cash dividend distribution to shareholders for the first half of the financial year 2024. The notification was signed by Abdulkareem Mubarak Almessabi, the Chief Executive Officer, and a copy was sent to the Securities and Commodities Authority (SCA).
The document is a review report and interim condensed consolidated financial information for ADNOC Logistics & Services plc, dated 30 June 2024. The information provided is unaudited.
ADNOC Logistics and Services plc (ADNOC L&S) announced significant financial results for the second quarter and first half of 2024. The company reported a 42% increase in revenue and EBITDA, and a 31% rise in net profit year-on-year for H1 2024. The net profit for H1 2024 was $401 million, with revenues totaling $1,740 million and an EBITDA of $591 million, maintaining a 34% EBITDA margin. ADNOC L&S is advancing its growth strategy with strategic investments exceeding $5 billion by 2028. The acquisition of Navig8, which operates in 15 cities across five continents, will add 32 tankers to its fleet and includes new construction contracts for LNG Carriers, VLECs, and VLACs.
On 6 August 2024, the Board of Directors of ADNOC Logistics & Services PLC held a meeting via video conference at 3:00 PM. During this meeting, the Board approved the company's financial results for the second quarter of the 2024 financial year. Additionally, the Board reviewed recent developments related to the company's activities and projects. The notification was signed by Abdulkareem Mubarak Almessabi, the Chief Executive Officer, and a copy was sent to the Securities and Commodities Authority.
On 1 August 2024, the Abu Dhabi Securities Exchange's Market Operations & Surveillance department received a notification regarding a meeting of the Board of Directors of ADNOC Logistics & Services PLC. The meeting is scheduled to take place via video conference at 3:00 PM on Tuesday, 6 August 2024. The agenda includes reviewing and approving the company's financial results for the second quarter of 2024 and discussing other general matters related to the company's activities and projects. The communication was signed by Abdulkareem Mubarak Almessabi, Chief Executive Officer, and a copy was sent to the Securities and Commodities Authority (SCA).
ADNOC Logistics and Services (ADNOC L&S) and its joint venture with Wanhua Chemical Group, AW Shipping, have awarded shipbuilding contracts worth $1.9 billion to Jiangnan Shipyard in China. The contracts include the construction of nine Very Large Ethane Carriers (VLECs) for approximately $1.4 billion and two Very Large Ammonia Carriers (VLACs) for about $250 million, with an option for two additional VLACs. The new vessels, which will be among the world's largest ethane and ammonia carriers, will feature energy-efficient dual fuel engines. The VLECs will be deployed on 20-year charter contracts, generating around $4 billion in revenue. The contracts were signed in a ceremony in Beijing, attended by notable officials including UAE Minister Dr. Sultan Ahmed Al Jaber.
ADNOC Logistics & Services Plc has signed shipbuilding contracts worth up to $2.5 billion with South Korean shipyards Samsung Heavy Industries and Hanwha Ocean for the construction of 8 to 10 Liquified Natural Gas (LNG) carriers. These vessels, to be delivered starting in 2028, will be time chartered for 20 years to ADNOC Group subsidiaries. This investment is part of ADNOC L&S's strategy to expand its fleet and has committed over 50% of its $5 billion medium-term investment target one year after its IPO. The new carriers will increase the company's LNG fleet from 14 to at least 22 vessels.
ADNOC Logistics & Services Plc (ADNOC L&S) and Samsung Heavy Industries have signed a Letter of Intent for the construction of at least three Liquified Natural Gas (LNG) carriers, with options for two additional carriers. Each carrier will have a capacity of 174,000 cubic meters and is scheduled for delivery in 2028. ADNOC L&S is a global energy maritime logistics company listed on the Abu Dhabi Securities Exchange, serving over 100 customers in more than 50 countries. For more information, visit www.adnocls.ae.

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News Update From ADNOC Logistics & Services plc

Disclosures: ADNOC Logistics & Services plc Financial Results for the Period Ended June 30,2023

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Disclosures: ADNOC Logistics & Services plc Management Discussion and Analysis Report for the Period Ended June 30,2023

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Disclosures: ADNOC Logistics & Services plc Press Release on the Financial Results for the Period Ended June 30,2023

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Disclosures: ADNOC Logistics & Services plc Board Meeting Results held on 03/08/2023 at 15:45

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Disclosures: ADNOC Logistics & Services plc Announcement of Board Meeting to be held on 03/08/2023 at 15:45

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Disclosures: ADNOC L&S Welcomes Second Newbuild Very Large Crude Carrier in Just Two Months

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Disclosures: ADNOC Logistics & Services plc General Press Release

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Disclosures: ADNOC Logistics & Services plc General Press Release

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Disclosures: ADNOC Logistics & Services plc

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Disclosures: ADNOC Logistics & Services plc Board of Directors' Report for the Period Ended December 31,2023

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