Saudi Arabia: ADNOC Distribution gets green light to acquire 35 sites

EBITDA of AED 1.53 billion and net profit of AED 1.15 billion in first half of 2021.

ADNOC Distribution has got the green light to acquire 35 gas stations from the Saudi General Authority for Competition (GAC), the company said in its first half of the year results.

During the first half of 2021, ADNOC Distribution continued its growth with the opening of 12 new stations in the UAE.

The UAE’s largest fuel and convenience retailer, which is listed on the Abu Dhabi Securities Exchange (ADX), reported that its first half 2021 EBITDA stood at AED 1.53 billion, with net profit of AED 1.15 billion.

The strong results were driven by higher fuel volumes, improvement in non-fuel and commercial gross profit margin and increased operational efficiencies made in the first half of 2021.

The company’s fuel volumes saw progressive recovery towards pre-COVID levels, an indication of improving consumer sentiment following the successful vaccination drive across the UAE.

ADNOC Distribution has also continued to provide a modern, digital experience to customers. This includes enhanced payment options, including through the ADNOC Distribution app, which offers a fully-contactless customer experience, and the growing popularity of its online delivery service, available through Talabat and Carriage from more than 100 ADNOC Oasis stores across the UAE.6