ADNOC L&S achieves robust financial performance for H1 of 2024
(MENAFN) ADNOC Logistics & Services PLC, a key player in energy logistics and maritime services listed in Abu Dhabi, has released its financial results for the second quarter and the first half of 2024. The company reported a significant increase in net profits, reaching AED 1.473 billion (approximately USD401 million), which equates to AED 0.20 (about USD0.05) per share. This represents a notable 31 percent increase compared to the same period in 2023.
Revenues for the first half of 2024 surged to around AED 6.4 billion (about USD1.74 billion), marking a substantial 42 percent rise from the previous year. This growth in revenue underscores the company’s robust operational performance across all its business segments. Additionally, EBITDA saw a similar 42 percent increase, climbing to AED 2.17 billion (approximately USD591 million). This impressive growth is attributed to ADNOC Logistics & Services’ strong performance, which has allowed the company to maintain an EBITDA margin of 34 percent.
These results highlight ADNOC Logistics & Services’ successful expansion and operational efficiency, reflecting its strong position in the energy logistics sector and its continued positive impact on the company’s financial health.
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