{"id":22877,"date":"2025-05-05T19:56:45","date_gmt":"2025-05-05T19:56:45","guid":{"rendered":"https:\/\/www.hotelsalepage.com\/feed\/cision-pr-newswire\/adnoc-gas-announces-q1-net-income-of-1-27-billion-up-7-year-on-year-significantly-exceeding-market-expectations\/"},"modified":"2025-05-05T19:56:45","modified_gmt":"2025-05-05T19:56:45","slug":"adnoc-gas-announces-q1-net-income-of-1-27-billion-up-7-year-on-year-significantly-exceeding-market-expectations","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=22877","title":{"rendered":"ADNOC Gas announces Q1 net income of $1.27 billion, up 7% year on year, significantly exceeding market expectations"},"content":{"rendered":"\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

EBITDA of $2.16 billion, up 4% year on year<\/i> <\/p>\n

Performance driven by domestic gas demand and efficient management of planned shut-down program<\/i> <\/p>\n

ADNOC Gas continues to invest through the cycle to achieve its longer-term EBITDA growth target of over 40%<\/i> <\/p>\n

ABU DHABI, UAE<\/span>, May 5, 2025<\/span> \/PRNewswire\/ — ADNOC Gas plc and its subsidiaries (together referred to as “ADNOC Gas” or the “Company”) (ADX: ADNOCGAS) (ISIN: AEE01195A234), a world-class integrated gas processing and sales company, today announced net income of $1.27 billion and EBITDA of $2.16 billion for the first quarter of 2025, exceeding the equivalent quarter in 2024 by 7% and 4% respectively.<\/p>\n

\"ADNOC<\/a>
ADNOC Gas announces Q1 net income of $1.27 billion, up 7% year on year, significantly exceeding market expectations<\/span> <\/div>\n

The performance was driven firstly by continued demand for domestic gas – up on the equivalent quarter last year – as a result of strong economic growth in the UAE, which lifted the total sales volume. Secondly, through efficient management of the planned shut-down program to boost processing capacity, a reduction in the number of days the Company’s plants were offline led to a rise in processed volumes.<\/p>\n

Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: <\/b>“This has been another outstanding quarterly performance by ADNOC Gas, supported by our resilient business model in a lower oil price market, which significantly exceeded market expectations. These results come on the back of successful supply agreements and the optimization of our ongoing shut-down program designed to power our continued growth. Looking ahead, we will use the strength of our balance sheet to invest through the cycle as we seek to realize EBITDA*<\/sup> growth of over 40% between 2023 and 2029.”<\/p>\n

ADNOC Gas signed a series of mid to long term LNG supply agreements valued at circa $9 billion with the Indian Oil Corporation and JERA Global Markets of Japan during Q1, reinforcing its role as a leading supplier of lower-carbon fuel. The agreements support the growth of the Company’s international customer base as well as the transformation of global energy systems.\u00a0<\/p>\n

Q1 also saw a year-on-year uplift in CAPEX of 43% as ADNOC Gas continues to make the necessary investments through the cycle to grow the business and achieve its longer-term EBITDA targets. Project implementation remains on track, with the Company expecting to take a Final Investment Decision on its Rich Gas Development project in 2025.<\/p>\n

As a result of the recently completed marketed offering of 3.1 billion shares in ADNOC Gas in which the free float increased by 4% to 9%, the Company is eligible for potential inclusion in the MSCI and FTSE indices as early as June and September respectively.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

$ Million<\/b> <\/span> <\/p>\n<\/td>\n

\n

Q1 24<\/b> <\/span> <\/p>\n<\/td>\n

\n

Q4 24<\/b> <\/span> <\/p>\n<\/td>\n

\n

Q1 25<\/b> <\/span> <\/p>\n<\/td>\n

\n

YoY %<\/i> <\/b> <\/span> <\/p>\n<\/td>\n

\n

QoQ %<\/i> <\/b> <\/span> <\/p>\n<\/td>\n<\/tr>\n

<\/td>\n <\/td>\n <\/td>\n <\/td>\n\n

Q1 25 vs. Q1 24<\/i> <\/span> <\/p>\n<\/td>\n

\n

Q1 25 vs. Q4 24<\/i> <\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Revenue<\/span> <\/p>\n<\/td>\n

\n

6,011<\/span> <\/p>\n<\/td>\n

\n

6,060<\/span> <\/p>\n<\/td>\n

\n

6,099<\/span> <\/p>\n<\/td>\n

\n

1\u00a0%<\/span> <\/p>\n<\/td>\n

\n

1\u00a0%<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

COGS<\/span> <\/p>\n<\/td>\n

\n

-3,410<\/span> <\/p>\n<\/td>\n

\n

-3,299<\/span> <\/p>\n<\/td>\n

\n

-3,455<\/span> <\/p>\n<\/td>\n

\n

1\u00a0%<\/span> <\/p>\n<\/td>\n

\n

5\u00a0%<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Opex<\/span> <\/p>\n<\/td>\n

\n

-525<\/span> <\/p>\n<\/td>\n

\n

-479<\/span> <\/p>\n<\/td>\n

\n

-485<\/span> <\/p>\n<\/td>\n

\n

-8\u00a0%<\/span> <\/p>\n<\/td>\n

\n

1\u00a0%<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

EBITDA<\/b> <\/span> <\/p>\n<\/td>\n

\n

2,076<\/b> <\/span> <\/p>\n<\/td>\n

\n

2,282<\/b> <\/span> <\/p>\n<\/td>\n

\n

2,159<\/b> <\/span> <\/p>\n<\/td>\n

\n

4\u00a0%<\/b> <\/span> <\/p>\n<\/td>\n

\n

-5\u00a0%<\/b> <\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Net Inco<\/b> me<\/b> <\/span> <\/p>\n<\/td>\n

\n

1,187<\/b> <\/span> <\/p>\n<\/td>\n

\n

1,381<\/b> <\/span> <\/p>\n<\/td>\n

\n

1,270<\/b> <\/span> <\/p>\n<\/td>\n

\n

7\u00a0%<\/b> <\/span> <\/p>\n<\/td>\n

\n

-8\u00a0%<\/b> <\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

EBITDA Margin<\/span> <\/p>\n<\/td>\n

\n

34.5\u00a0%<\/span> <\/p>\n<\/td>\n

\n

37.7\u00a0%<\/span> <\/p>\n<\/td>\n

\n

35.4\u00a0%<\/span> <\/p>\n<\/td>\n

\n

87bps<\/span> <\/p>\n<\/td>\n

\n

-226bps<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Net Income Margin<\/span> <\/p>\n<\/td>\n

\n

19.7\u00a0%<\/span> <\/p>\n<\/td>\n

\n

22.8\u00a0%<\/span> <\/p>\n<\/td>\n

\n

20.8\u00a0%<\/span> <\/p>\n<\/td>\n

\n

107bps<\/span> <\/p>\n<\/td>\n

\n

-197bps<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Free Cash Flow <\/span> <\/p>\n

(ex-working capital)<\/span> <\/p>\n<\/td>\n

\n

1,144<\/span> <\/p>\n<\/td>\n

\n

965<\/span> <\/p>\n<\/td>\n

\n

1,214<\/span> <\/p>\n<\/td>\n

\n

6\u00a0%<\/span> <\/p>\n<\/td>\n

\n

26\u00a0%<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Alternative performance measures:<\/span> <\/p>\n

\u2022\u00a0 Financial information as presented above <\/i>includes<\/i>\u00a0ADNOC Gas’ proportionate consolidation of
JVs financial results.<\/i><\/span> <\/p>\n

\u2022\u00a0 EBITDA includes proportionate consolidation of JVs and represents Earnings Before Interest,
Tax, Depreciation and Amortization.<\/i><\/span> <\/p>\n

\u2022\u00a0 Free cash flow (excluding working capital) as presented is based on the IFRS financial statements.<\/i><\/span> <\/p>\n

\u2022\u00a0 The reconciliation between the financial data as presented and the IFRS financial statements is
presented in the Management Discussion & Analysis Report.<\/i><\/span> <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

*<\/sup>Assumes a flat oil price of $70\/bbl between 2025 and 2029 and, in addition, the proportional consolidation of Ruwais LNG following completion and transfer to ADNOC Gas.<\/p>\n

About ADNOC Gas<\/b> <\/p>\n

ADNOC Gas, listed on the ADX (ADX symbol: “ADNOCGAS” \/ ISIN: “AEE01195A234”), is a world-class, large-scale integrated gas processing and sales company operating across the gas value chain, from receipt of feedstock from ADNOC through large, long-life operations for gas processing and fractionation to the sale of products to domestic and international customers. ADNOC Gas supplies approximately 60% of the UAE’s sales gas needs and supplies end-customers in over 20 countries.\u00a0 To find out more, visit: www.adnocgas.ae<\/a><\/p>\n

(X)<\/b>\u00a0@ADNOCGas<\/a><\/p>\n

For investor inquiries, please contact:
<\/b>Christian Audi
Vice President, Investor Relations
+971 (2) 6037366
ir@adnocgas.ae<\/a><\/p>\n

\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

EBITDA of $2.16 billion, up 4% year on year<\/i> <\/p>\n

Performance driven by domestic gas demand and efficient management of planned shut-down program<\/i> <\/p>\n

ADNOC Gas continues to invest through the cycle to achieve its longer-term EBITDA growth target of over 40%<\/i> <\/p>\n

ABU DHABI, UAE<\/span>, May 5, 2025<\/span> \/PRNewswire\/ — ADNOC Gas plc and its subsidiaries (together referred to as “ADNOC Gas” or the “Company”) (ADX: ADNOCGAS) (ISIN: AEE01195A234), a world-class integrated gas processing and sales company, today announced net income of $1.27 billion and EBITDA of $2.16 billion for the first quarter of 2025, exceeding the equivalent quarter in 2024 by 7% and 4% respectively.<\/p>\n

\"ADNOC<\/a>
ADNOC Gas announces Q1 net income of $1.27 billion, up 7% year on year, significantly exceeding market expectations<\/span> <\/div>\n

The performance was driven firstly by continued demand for domestic gas – up on the equivalent quarter last year – as a result of strong economic growth in the UAE, which lifted the total sales volume. Secondly, through efficient management of the planned shut-down program to boost processing capacity, a reduction in the number of days the Company’s plants were offline led to a rise in processed volumes.<\/p>\n

Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: <\/b>“This has been another outstanding quarterly performance by ADNOC Gas, supported by our resilient business model in a lower oil price market, which significantly exceeded market expectations. These results come on the back of successful supply agreements and the optimization of our ongoing shut-down program designed to power our continued growth. Looking ahead, we will use the strength of our balance sheet to invest through the cycle as we seek to realize EBITDA*<\/sup> growth of over 40% between 2023 and 2029.”<\/p>\n

ADNOC Gas signed a series of mid to long term LNG supply agreements valued at circa $9 billion with the Indian Oil Corporation and JERA Global Markets of Japan during Q1, reinforcing its role as a leading supplier of lower-carbon fuel. The agreements support the growth of the Company’s international customer base as well as the transformation of global energy systems.\u00a0<\/p>\n

Q1 also saw a year-on-year uplift in CAPEX of 43% as ADNOC Gas continues to make the necessary investments through the cycle to grow the business and achieve its longer-term EBITDA targets. Project implementation remains on track, with the Company expecting to take a Final Investment Decision on its Rich Gas Development project in 2025.<\/p>\n

As a result of the recently completed marketed offering of 3.1 billion shares in ADNOC Gas in which the free float increased by 4% to 9%, the Company is eligible for potential inclusion in the MSCI and FTSE indices as early as June and September respectively.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

$ Million<\/b> <\/span> <\/p>\n<\/td>\n

\n

Q1 24<\/b> <\/span> <\/p>\n<\/td>\n

\n

Q4 24<\/b> <\/span> <\/p>\n<\/td>\n

\n

Q1 25<\/b> <\/span> <\/p>\n<\/td>\n

\n

YoY %<\/i> <\/b> <\/span> <\/p>\n<\/td>\n

\n

QoQ %<\/i> <\/b> <\/span> <\/p>\n<\/td>\n<\/tr>\n

<\/td>\n <\/td>\n <\/td>\n <\/td>\n\n

Q1 25 vs. Q1 24<\/i> <\/span> <\/p>\n<\/td>\n

\n

Q1 25 vs. Q4 24<\/i> <\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Revenue<\/span> <\/p>\n<\/td>\n

\n

6,011<\/span> <\/p>\n<\/td>\n

\n

6,060<\/span> <\/p>\n<\/td>\n

\n

6,099<\/span> <\/p>\n<\/td>\n

\n

1\u00a0%<\/span> <\/p>\n<\/td>\n

\n

1\u00a0%<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

COGS<\/span> <\/p>\n<\/td>\n

\n

-3,410<\/span> <\/p>\n<\/td>\n

\n

-3,299<\/span> <\/p>\n<\/td>\n

\n

-3,455<\/span> <\/p>\n<\/td>\n

\n

1\u00a0%<\/span> <\/p>\n<\/td>\n

\n

5\u00a0%<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Opex<\/span> <\/p>\n<\/td>\n

\n

-525<\/span> <\/p>\n<\/td>\n

\n

-479<\/span> <\/p>\n<\/td>\n

\n

-485<\/span> <\/p>\n<\/td>\n

\n

-8\u00a0%<\/span> <\/p>\n<\/td>\n

\n

1\u00a0%<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

EBITDA<\/b> <\/span> <\/p>\n<\/td>\n

\n

2,076<\/b> <\/span> <\/p>\n<\/td>\n

\n

2,282<\/b> <\/span> <\/p>\n<\/td>\n

\n

2,159<\/b> <\/span> <\/p>\n<\/td>\n

\n

4\u00a0%<\/b> <\/span> <\/p>\n<\/td>\n

\n

-5\u00a0%<\/b> <\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Net Inco<\/b> me<\/b> <\/span> <\/p>\n<\/td>\n

\n

1,187<\/b> <\/span> <\/p>\n<\/td>\n

\n

1,381<\/b> <\/span> <\/p>\n<\/td>\n

\n

1,270<\/b> <\/span> <\/p>\n<\/td>\n

\n

7\u00a0%<\/b> <\/span> <\/p>\n<\/td>\n

\n

-8\u00a0%<\/b> <\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

EBITDA Margin<\/span> <\/p>\n<\/td>\n

\n

34.5\u00a0%<\/span> <\/p>\n<\/td>\n

\n

37.7\u00a0%<\/span> <\/p>\n<\/td>\n

\n

35.4\u00a0%<\/span> <\/p>\n<\/td>\n

\n

87bps<\/span> <\/p>\n<\/td>\n

\n

-226bps<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Net Income Margin<\/span> <\/p>\n<\/td>\n

\n

19.7\u00a0%<\/span> <\/p>\n<\/td>\n

\n

22.8\u00a0%<\/span> <\/p>\n<\/td>\n

\n

20.8\u00a0%<\/span> <\/p>\n<\/td>\n

\n

107bps<\/span> <\/p>\n<\/td>\n

\n

-197bps<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Free Cash Flow <\/span> <\/p>\n

(ex-working capital)<\/span> <\/p>\n<\/td>\n

\n

1,144<\/span> <\/p>\n<\/td>\n

\n

965<\/span> <\/p>\n<\/td>\n

\n

1,214<\/span> <\/p>\n<\/td>\n

\n

6\u00a0%<\/span> <\/p>\n<\/td>\n

\n

26\u00a0%<\/span> <\/p>\n<\/td>\n<\/tr>\n

\n

Alternative performance measures:<\/span> <\/p>\n

\u2022\u00a0 Financial information as presented above <\/i>includes<\/i>\u00a0ADNOC Gas’ proportionate consolidation of
JVs financial results.<\/i><\/span> <\/p>\n

\u2022\u00a0 EBITDA includes proportionate consolidation of JVs and represents Earnings Before Interest,
Tax, Depreciation and Amortization.<\/i><\/span> <\/p>\n

\u2022\u00a0 Free cash flow (excluding working capital) as presented is based on the IFRS financial statements.<\/i><\/span> <\/p>\n

\u2022\u00a0 The reconciliation between the financial data as presented and the IFRS financial statements is
presented in the Management Discussion & Analysis Report.<\/i><\/span> <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

*<\/sup>Assumes a flat oil price of $70\/bbl between 2025 and 2029 and, in addition, the proportional consolidation of Ruwais LNG following completion and transfer to ADNOC Gas.<\/p>\n

About ADNOC Gas<\/b> <\/p>\n

ADNOC Gas, listed on the ADX (ADX symbol: “ADNOCGAS” \/ ISIN: “AEE01195A234”), is a world-class, large-scale integrated gas processing and sales company operating across the gas value chain, from receipt of feedstock from ADNOC through large, long-life operations for gas processing and fractionation to the sale of products to domestic and international customers. ADNOC Gas supplies approximately 60% of the UAE’s sales gas needs and supplies end-customers in over 20 countries.\u00a0 To find out more, visit: www.adnocgas.ae<\/a><\/p>\n

(X)<\/b>\u00a0@ADNOCGas<\/a><\/p>\n

For investor inquiries, please contact:
<\/b>Christian Audi
Vice President, Investor Relations
+971 (2) 6037366
ir@adnocgas.ae<\/a><\/p>\n

\u00a0<\/p>\n

<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-22877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/22877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22877"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/22877\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}