ADNOC Group’s listed portfolio companies reported a cumulative whopping AED16 billion net profit in the first half of 2024.
The six listed companies of the group also reported AED89 billion in combined revenue during the period.
While ADNOC Distribution recorded a 12.9 percent YoY rise in net profit to AED623 million, ADNOC Drilling reported a 28 percent jump in its net profit to AED2.1 billion during the period.
In H1 2024, ADNOC Gas’s revenues reached AED44.4 billion, while it reported EBITDA of AED15.3 billion and a net income of AED8.7 billion.
ADNOC L&S also reported impressive financial results for the first half of the year, with the company recording a net profit of AED1.5 billion, an increase of 31 percent on H1 2023.
It also reported revenues of AED6.4 billion in the same period, up 42 percent on H1 2023.
Borouge, another group company, also reported a 35 percent rise in its net profit in H1, 2024 to AED2.1 billion.
Follow us on
