![]() ![]() ![]() 31, 2020, and remained well-positioned to expand both its domestic and international portfolio in-line with its smart growth strategy, as well as meet its dividend commitments.Īs of Dec. For the year 2020, net profit was 2.4 billion dirhams, while underlying EBITDA stood at 3.6 billion dirhams.ĪDNOC Distribution has maintained a strong balance sheet as of Dec. The company on Monday reported that its net profit for the fourth quarter of 2020 grew to 851 million dirhams, with underlying EBITDA (EBITDA excluding one-offs and inventory gains/losses) of 1.1 billion dirhams. We will continue to seek further international expansion opportunities and unlock incremental value for shareholders." "ADNOC Distribution is well placed to continue building on recent success, in the UAE and beyond, in the year ahead and remains on track to reach EBITDA target of at least $1.0 billion by 2023. 30, 2020 to acquire 15 service stations in Saudi Arabia following the success of two stations launched in 2018.Ĭommenting on the development, Ahmed Al Shamsi, acting chief executive officer of ADNOC Distribution, said, "We set ambitious growth targets for 2020 and it is testament to our resilient business model that we not only met but exceeded guidance in terms of both new station openings and convenience store refurbishments. The two transactions consist of 20 service stations in the Eastern, Central, and Riyadh regions of the Kingdom, with a total purchase consideration of up to 56.9 million dirhams ($15.5 million). The acquisition is, however, subject to certain conditions (including obtaining regulatory approvals). ABU DHABI - Abu Dhabi's ADNOC Distribution said on Monday it has executed two agreements to acquire 20 service stations in Saudi Arabia for 56.9 million dirhams ($15.5 million), increasing its total network in the Kingdom to 37. ![]()
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