ADNOC Distribution released operational results from 2023, highlighted by domestic and international expansion across all its activities.
The full financial results of the company for the year 2023 will be declared in February.
The UAE’s largest fuel and convenience retailer opened 41 service stations across the UAE, Kingdom of Saudi Arabia and Egypt, surpassing its annual target of 25-35 new stations. This brought the total network of ADNOC service stations to 840, with 597 of them in the UAE and KSA.
ADNOC Distribution’s international footprint was boosted by its acquisition of a 50 percent stake in TotalEnergies Marketing Egypt, a diversified business with over 240 retail fuel stations, convenience stores, aviation and lubricant businesses. The company also launched its first nine ADNOC-branded service stations in the second half of 2023 in Egypt.
Bader Saeed Al Lamki, CEO of ADNOC Distribution, expected the momentum to continue.
“We look forward to deliver continued growth for the business, our shareholders, customers and partners in 2024. We will leverage our global footprint, cutting-edge technology and a customer-centric approach to fuel the next phase of our success,” said Al Lamki.
“Building on the successes of 2023, ADNOC Distribution will focus on key strategic priorities in 2024, that include achieving profitable growth and integrating sustainability into its operations.”
The Company delivered 11.8 percent year-on-year rise in total fuel volumes in the GCC. Retail volumes increased by approximately 9.6 percent, while commercial volumes saw a 16.2 percent year-on-year increase. There were a total of 179.7 million fuel retail transactions during the year as the UAE service stations alone served more than 500,000 customers every day.
Non-fuel retail business delivered 12.9 percent year-on-year growth in number of transactions and a four-year-high convenience store conversion rate of 24.7 percent.
ADNOC Distribution continued to invest in sustainable mobility by accelerating the rollout of charging points for electric vehicles (EVs). It now has 50 assets at strategic locations across its network that provides both fast and super-fast EV chargers.
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