Latest news with #SaeedAlLamki
Al Etihad
29-04-2025
- Automotive
- Al Etihad
Adnoc Distribution earnings top $1 billion for second year, plans expansion to 1,000 stations by 2028
29 Apr 2025 15:39 ABU DHABI (WAM)Adnoc Distribution announced that its earnings before interest, taxes, depreciation and amortisation (EBITDA) surpassed $1 billion for the second consecutive year, reflecting the strength of its operational foundations and its steady path to delivering strong shareholder returns. The company aims to generate a return on investment exceeding 6 Saeed Al Lamki, Chief Executive Officer of Adnoc Distribution, said in a statement to the Emirates News Agency (WAM) that the company maintains a robust financial position, enabling it to explore new investment opportunities outside its three current markets in a way that creates added value for shareholders and maximises Lamki noted that the company has maintained steady growth since its listing on the Abu Dhabi Securities Exchange in 2019, expanding its operations from the domestic market to promising regional markets, including the Kingdom of Saudi Arabia and the Arab Republic of stated that Adnoc Distribution currently operates 900 service stations, and plans to increase this number to 1,000 by 2028. He emphasised the company's commitment to enhancing non-fuel services, such as Adnoc Oasis convenience stores, car wash stations, and vehicle inspection the company opened new inspection centres in shopping malls, in line with the UAE's Year of the Community initiative, to provide greater convenience for part of its efforts to promote sustainable mobility, Al Lamki highlighted that the company currently operates approximately 200 electric vehicle charging points across the UAE, and aims to increase this number to 500 high-power chargers by 2028. Adnoc Distribution's chargers are among the fastest available, capable of charging a battery from 20 to 80 percent in a short CEO affirmed that the company continues to enhance customer experience by leveraging artificial intelligence and its smart Adnoc app, which offers home delivery services in partnership with strategic partners including the UAE-based platform Noon. Al Lamki said the company currently operates in three major markets characterised by high population density, developed infrastructure and growing energy demand, with further growth opportunities ahead. He noted that Adnoc Distribution operates 100 service stations in Saudi Arabia and 244 stations in Egypt, where the company has also commenced lubricants manufacturing as part of its ongoing expansion in the Egyptian market.
Al Etihad
22-04-2025
- Automotive
- Al Etihad
ADNOC Distribution to operate 500 high-power EV chargers by 2028
22 Apr 2025 17:36 ABU DHABI (WAM)ADNOC Distribution announced a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging points from 53 in 2023 to over 200 in 2024, with a target of operating 500 high-power chargers by Saeed Al Lamki, CEO of ADNOC Distribution, said during the Electric Vehicle Innovation Summit (EVIS 2025) that the company continues to strengthen its position in EV mobility by developing advanced charging infrastructure and offering a smart, sustainable digital experience for customers, supporting the UAE's Net Zero by 2050 strategic said innovation and technology remain central to the company's operations, highlighting features such as real-time updates via the ADNOC app and Apple smartwatches, in addition to Plug & Charge technology powered by artificial intelligence, enabling automatic vehicle recognition and charging as soon as it is plugged service also provides smart energy management and real-time predictive analytics, and integrates with ADNOC's loyalty programme while offering flexible digital payment options to enhance the customer Lamki noted that ADNOC Distribution's extensive network across all emirates allows customers to travel seamlessly, supported by premium retail services during charging, including exclusive offers and shopping at ADNOC Oasis convenience said the company is showcasing the capabilities of the E2GO network at EVIS 2025 and exploring partnership opportunities with government entities, automotive manufacturers and energy providers to further contribute to ADNOC Group's decarbonisation Distribution reduced carbon emissions in 2024 by the equivalent of more than 23 million metric tonnes. The company remains the only one in the UAE currently enabling uninterrupted electric journeys thanks to its advanced added that ADNOC Distribution plays a pivotal role in supporting the future of EV mobility, with E2GO now fully owned by the company and operating as a major charge point operator that balances customer satisfaction with investment Lamki explained that customers can activate the Plug & Charge feature with a one-time setup, allowing them to enjoy seamless automated charging while monitoring the process through the app or smartwatches. He confirmed that the service is currently available for select vehicles within the E2GO network. He concluded by saying that the company continues to expand its digital capabilities and smart services to support the national transition in the transport sector, while delivering a fast and flexible charging experience that meets the expectations of EV drivers across the country.
Al Etihad
26-03-2025
- Business
- Al Etihad
ADNOC Distribution approves H2 2024 dividend, bringing total annual payout to $700 million
26 Mar 2025 11:04 ABU DHABI (WAM) ADNOC Distribution on Wednesday announced shareholder approval of all agenda items at its Annual General Assembly Meeting (AGM), including the shareholder approval of a final cash dividend of $350 million (Dh1.285 billion) for the second half of 2024 to be distributed in April brings the total annual dividend for 2024 to $700 million (Dh2.57 billion), yielding 6.1 per cent, based on the March 25, 2025 closing share price of Dh3.39, in line with the company's 2024-28 dividend policy of maintaining annual payouts of $700 million or a minimum of 75 per cent of net profit, whichever is Sultan Ahmed Al Jaber, Chairman of ADNOC Distribution, said, "Financially, 2024 was another record-breaking year. We delivered against our five-year strategy, achieving significant milestones that strengthened our market position and set the stage for long-term success. For the second consecutive year, our EBITDA surpassed $1 billion, driven by record fuel volumes—which increased by nearly 9 per cent—and sustained non-fuel retail growth, which allowed us to deliver strong shareholder returns."In 2024, ADNOC Distribution unveiled a five-year growth strategy underpinned by commitments to domestic growth, building international platforms, and future-proofing its business. By successfully executing this strategy, the company achieved a record EBITDA of $1.05 billion (Dh3.86 billion) in 2024, a 5 per cent year-on-year increase driven by record fuel volumes, strong non-fuel retail growth, and higher contributions from its operations in Saudi Arabia and 2024 dividend reflects the company's ability to generate strong free cash flow, which totalled $756 million (Dh2.78 billion) in its IPO in 2017, the company has distributed a total of $4.8 billion (Dh17.4 billion) in dividends and delivered 92 per cent in total shareholder year's dividend distribution of $700 million marks a 3.5x increase from the $200 million distributed in ADNOC Distribution's first year as a listed Saeed Al Lamki, CEO of ADNOC Distribution, said, "ADNOC Distribution is committed to leading the way for the future of mobility and convenience retail, as evidenced by our commitment to expanding our international operations and prioritising high-growth areas."He added that throughout 2025, the company will continue to drive towards our five-year strategic objectives, including 1,000 service stations across our network, increasing non-fuel transactions by 50 per cent, and expanding the E2GO network to 500 EV charging points across the UAE by 2025, ADNOC Distribution is targeting the installation of approximately 100 additional fast and super-fast EV charging points across the UAE as part of its commitment to future-proofing and building the future of the Year of Community, ADNOC Distribution is also exploring new ways to position its service stations as more than just functional stops, redefining them as welcoming spaces at the heart of the communities they company aims to double the number of properties occupied by top international and regional food and beverage brands by the end of the year, compared to the end of 2028, ADNOC Distribution seeks to grow the number of ADNOC Oasis convenience stores by 25 per cent, increase non-fuel transactions by 50 per cent and scale directly-operated franchise stores to 50 or more locations - a strategy is expected to allow for a 2.5-fold increase in property yield compared to traditional rental company is targeting 1,000 service stations across its network by 2028 and aims to add 40-50 in 2025, with 30-40 of these to be located in Saudi 2024, ADNOC Distribution reached a milestone of 100 service stations in the Kingdom by deploying a smart Dealer-Owned, Company-Operated (DOCO) model. This CAPEX-light, scalable approach involves partnering with local dealers who own service stations, while ADNOC Distribution manages 2029, ADNOC Distribution targets at least 300 stations across the Kingdom, positioning the company among the top five fuel and convenience retailers in the Saudi market. ADNOC Distribution sees strong growth momentum in 2025, with planned CAPEX of $250-300 million. Through AI-driven data analytics and personalised engagement, the company is reinforcing its commitment to digital transformation, strengthening its position as the UAE's leading multi-energy mobility retailer while expanding internationally in a disciplined manner.
