ADNOC Logistics & Services plc

The document contains the consolidated financial statements and independent auditor's report for ADNOC Logistics & Services PLC for the year ending on 31st December 2023.

The document contains the consolidated financial statements and the independent auditor's report for ADNOC Logistics & Services PLC for the year ending on 31 December 2023.

The text is a Management Discussion & Analysis Report from ADNOC, detailing their fiscal year 2023 earnings. The report was released on February 14, 2023.

ADNOC Logistics and Services (ADNOC L&S) announced its Q4 and full-year financial results for 2023, revealing a significant increase in profits and revenues. The company's net profit rose by 138% year-on-year (Y-o-Y) to $620 million, while revenues increased by 41% Y-o-Y to $2,755 million. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also grew by 93% Y-o-Y to $876 million. The board recommended a cash dividend of $130 million, equivalent to 6.45 fils per share for H2 2023. The growth was mainly attributed to the Integrated Logistics segment, along with strong performance in the Shipping and Marine Services segments. For Q4, net profit grew by 89% Y-o-Y to $165 million, and revenue increased by 26% Y-o-Y to $828 million.

On 14th February 2024, the Board of Directors of ADNOC Logistics & Services PLC held a meeting via video conference. The board approved the company's audited annual financial statements for the financial year ended 31 December 2023. They also proposed a cash dividend distribution of USD 130 million (equivalent to approximately AED 477 million or 6.45 fils per share) for the second half of the financial year ended 31 December 2023, pending approval at the next general assembly meeting. The board discussed recent developments related to the company's activities and projects. The updated composition of the Company’s Board of Directors was also noted, with Dr. Sultan Al Jaber as Chairperson.

The Board of Directors of ADNOC Logistics & Services PLC will hold a video conference meeting on 14 February 2024 at 4:30 p.m. The agenda includes the review and approval of the company's audited financial statements for the financial year ended 31 December 2023, consideration of the company's cash dividends distribution proposal to the shareholders for the second half of the financial year ended 31 December 2023, and discussion on general matters relating to the company's activities and projects. The meeting notice was sent by the company's CEO, Abdulkareem Mubarak Almessabi.

The text refers to a Management Discussion and Analysis Report on the nine-month earnings of ADNOC for the year 2023, which was published on 13 November 2023. The document is classified as public, meaning it is accessible to anyone interested in the financial performance of ADNOC for the specified period.

ADNOC Logistics and Services (ADNOC L&S) reported a 162% year-on-year increase in net profit for the first nine months of 2023, with a net profit of $455 million. The company also saw a 49% increase in revenue and a 124% increase in EBITDA during the same period. This strong performance was underpinned by the expansion of Integrated Logistics services activities, the acquisition of Zakher Marine International Holdings, and robust charter rates for Tankers and Gas Carriers. The company continues to expand its environmentally efficient fleet and is committed to delivering attractive shareholder returns, with an interim dividend payment of $65 million for Q2 2023.

The document is a review report and interim condensed consolidated financial information for ADNOC Logistics & Services PLC as of 30th September 2023. The information provided in the document is unaudited.

The Board of Directors of ADNOC Logistics & Services PLC held a meeting via video conference on November 10, 2023, where they approved the company's financial results for the third quarter of the current financial year 2023. The Board also discussed recent developments relating to the company's activities and projects. The meeting was chaired by Abdulkareem Mubarak Almessabi, the Chief Executive Officer. A copy of the financial results was attached to the notification sent to the Abu Dhabi Securities Exchange and the Securities and Commodities Authority.