Press releases, Reports & Disclosures for ADNOC Logistics & Services plc

ADNOC Logistics and Services (ADNOC L&S) has received its first new liquified natural gas (LNG) carrier, named 'Al Shelila,' from Jiangnan Shipyard in China, delivered two months early. This delivery is part of ADNOC L&S's fleet expansion and growth strategy, with five more carriers expected by 2026. The vessel uses advanced technology for improved efficiency and reduced emissions. The collaboration highlights strong industrial ties between the UAE and China. The delivery ceremony was attended by various dignitaries, including UAE and Chinese officials.

On November 13, 2024, the Board of Directors of ADNOC Logistics & Services PLC held a video conference meeting. During this meeting, they approved the company's financial statements for the third quarter of the financial year 2024. The Board also 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.

The Abu Dhabi Securities Exchange has been notified of a Board of Directors meeting for ADNOC Logistics & Services PLC scheduled for Wednesday, 13 November 2024, at 4 p.m. via video conference. The meeting will address the approval of the company's financial statements for the third quarter of 2024 and other general matters related to the company's activities and projects. The notification was sent by Abdulkareem Mubarak Almessabi, the Chief Executive Officer, with a copy to the Securities and Commodities Authority.

ADNOC Logistics and Services, in partnership with Wanhua Chemical Group through AW Shipping, has awarded $250 million in contracts to Jiangnan Shipyard for the construction of two Very Large Ammonia Carriers (VLACs). These vessels, set to be delivered by 2028, will be among the largest in the world, with a carrying capacity of 93,000 cubic meters each. The ships will feature energy-efficient dual-fuel engines capable of using liquefied petroleum gas or conventional fuels, aligning with the rising demand for lower-carbon energy sources. The contracts were signed in Abu Dhabi, coinciding with the opening of Jiangnan Shipyard's first Middle East office, enhancing the industrial ties between the UAE and China.

ADNOC Logistics and Services (ADNOC L&S) announced a cash dividend of $136.5 million for the first half of 2024, equating to 6.78 fils per share. The company plans to distribute a total of $273 million in dividends for the full year, marking a 5% increase from the 2023 annualized dividend. The interim dividend record date is set for October 17, 2024. ADNOC L&S is committed to providing attractive shareholder returns and continues to focus on growth and value through strategic investments. The dividend aligns with the company's policy of a progressive annual increase of at least 5% per share over the medium term.

The Board of Directors of ADNOC Logistics & Services plc approved a written resolution on 7 October 2024 to distribute interim cash dividends to shareholders for the first half of the financial year 2024. The total dividend amount is USD 136.5 million, equivalent to AED 501.29 million, or approximately 6.78 fils per share. The last entitlement date for the dividends is 15 October 2024, the ex-dividend date is 16 October 2024, and the shareholders' registry will close on 17 October 2024. Payments will be made within 30 days from 7 October 2024.

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.