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ADNOC L&S revenue grows by 38% in third quarter of this fiscal



ADNOC Logistics & Services (ADNOC L&S) recorded a revenue growth surge for Q3 with nine-month revenue reaching US$ 2.67 billion by 38 per cent from 2023, Captain Abdulkareem Al Masabi, CEO, ADNOC L&S, said. Its earnings before interest, taxes, depreciation and amortization by 37 per cent at US$ 867 million. The third quarter revenue increased 32 per cent year-on-year at US$ 928 million, while the net profit increased by 18 per cent at US$ 175 million. “These robust financial results demonstrate continued delivery of our strategy and our focus on delivering strong shareholder value through growth. The expected contribution of Navig8 will further boost our profile as a global energy maritime logistics company, while our balance sheet provides for further organic and inorganic value-accretive growth opportunities,” he added.

 

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