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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 August 6, 2024, a notice was issued regarding the availability of new Single Stock Futures (SSFs) contract series for equity future products starting from August 8, 2024. The November 2024 SSFs contract series includes various futures contracts, each with specific contract IDs, series codes, and names. These contracts will be listed on August 8, 2024, and will be de-listed on November 21, 2024. The announcement can be accessed on the Dubai Financial Market (DFM) website. It is noted that the information is subject to change and the Dubai Financial Market Regulated Derivative Contract Trading Regulation will take precedence in case of any inconsistencies.
Amlak Finance PJSC announced its H1 2024 financial results, reporting a net profit of AED 30 million, down from AED 138 million in H1 2023. Total assets stand at AED 3.15 billion. Revenue from financing and investing increased by 10% to AED 66 million. Excluding a one-off gain, total revenue slightly rose to AED 144 million from AED 126 million in H1 2023. Operating costs increased by 4% to AED 48 million due to ongoing restructuring. The company repaid AED 46 million to financiers and has settled 84% of its Islamic deposit liabilities since 2014. Negotiations to exit the Common Terms Agreement are at an advanced stage. Amortization costs decreased to AED 16 million from AED 22 million. The devaluation of the Egyptian Pound impacted the group's financial position.
Amlak Finance PJSC and its subsidiaries have released a review report and condensed consolidated interim financial information for the six-month period ending on June 30, 2024. The report is unaudited.
Resolution No. (459) of 2024 mandates the temporary suspension of trading in the shares of Union Insurance Company on the Abu Dhabi Securities Exchange (ADX) starting from 09:00 on August 12, 2024. This suspension coincides with the company's Board of Directors meeting scheduled at the same time. Trading will resume once ADX receives the meeting results. All department heads at ADX are instructed to implement this resolution within their respective areas. The resolution will be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on August 6, 2024.
Resolution No. (458) of 2024 temporarily suspends trading of Gulf Cement Co. (GCEM) shares on the Abu Dhabi Securities Exchange (ADX) from 14:00 on 12-Aug-2024 until ADX receives the results of the company's Board of Directors meeting, which coincides with the trading session. All relevant ADX departments are instructed to implement this resolution. The resolution will be circulated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on 06/08/2024.
The Board of Directors of "BHM Capital Financial Services P.S.C" invites the company's shareholders to attend the General Assembly Meeting, which will be held remotely/online on Monday, August 26, 2024, at 11:00 AM. If the quorum is not met, the meeting will be rescheduled to September 2, 2024, at the same time and place, to review and discuss the agenda.