ADNOC Gas Announces Record Second Quarter Performance, Demonstrating Resilience in Lower Price Environment
Highest-ever quarterly net income of $1.385 billion, up 16% YoY, reflects the Company's strong performance
Board approves interim dividend of $1.792 billion, a 5% increase YoY, to be distributed in September
ADNOC Gas on track for entry into FTSE Index in September 2025
ABU DHABI, UAE, Aug. 6, 2025 /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 Q2 2025 results, with net income rising by 16% year-on-year (YoY) to a record $1.385 billion and EBITDA increasing by 8% YoY to $2.256 billion.
Q2 2025 saw a strong performance across ADNOC Gas' product portfolio, especially in the local gas market. The Company serves local customers under long-term contracts with competitive prices and improved underlying margins. ADNOC Gas also capitalized on opportunities to sell additional volumes at favourable prices, in the local gas market and in the export market as Liquified Natural Gas (LNG). The Q2 results show that the Company's product portfolio is resilient to oil price volatility.
The Board of Directors approved an interim dividend of $1.792 billion, up 5% YoY, scheduled for distribution in September.
Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, said: "We are pleased to report the highest quarterly net income in ADNOC Gas' history, fueled by our strong local market business and improved operational efficiency. This performance shows that we are well on our way to achieving our ambition of over 40% EBITDA growth between 2023 and 2029*, as outlined in our strategy update last November. With healthy cashflows and robust margins, we remain well-positioned for long-term growth, and our resilient business model continues to deliver strong returns."
In the first half of 2025, ADNOC Gas increased Capex by 49% YoY. The Company made significant progress with its strategic initiatives, including the $5 billion Final Investment Decision on the first phase of its Rich Gas Development project (RGD), which takes the committed Capex to $20 billion.
In the near and medium term, the Company expects to deliver the Integrated Gas Development Expansion – Phase 2 (IGDE-2), Maximizing Ethane Recovery and Monetization (MERAM), and to take the investment decision on the remaining two phases of the RGD project.
Furthermore, ADNOC Gas is progressing other growth projects, like the Ruwais LNG project to capture an increasing share of the LNG market. LNG is a valuable and growing part of the Company's product portfolio.
Overall, the growth projects will further strengthen ADNOC Gas' product portfolio allowing for additional revenue streams and improved margins.
Following its inclusion in the MSCI Emerging Markets Index in June 2025, ADNOC Gas experienced a significant net capital inflow of approximately $500 million. The Company is now on course to join the FTSE Index in September 2025, with market estimates of added inflows of over $200 million, further elevating its global investment profile and diversifying its investor base, thereby significantly enhancing liquidity and trading volumes.
ADNOC Gas continued its AI journey with the roll out of MEERAi at its most recent Board of Directors meeting. MEERAi is the latest addition to the suite of AI Agents being deployed across ADNOC's value chain. Purpose-built for leadership use, MEERAi delivers real-time data-driven insights that enable the board of directors to make faster, more informed decisions.
$ Million |
Q2 24 |
Q1 25 |
Q2 25 |
YoY % |
QoQ % |
H1 24 |
H1 25 |
YTD % |
Q2 25 |
Q2 25 |
H1 25 |
||||||
Revenue |
6,076 |
6,099 |
5,960 |
-2 % |
-2 % |
12,087 |
12,059 |
0 % |
COGS |
-3,480 |
-3,455 |
-3,205 |
-8 % |
-7 % |
-6,891 |
-6,660 |
-3 % |
Opex |
-510 |
-485 |
-499 |
-2 % |
3 % |
-1,035 |
-984 |
-5 % |
EBITDA |
2,086 |
2,159 |
2,256 |
8 % |
5 % |
4,162 |
4,415 |
6 % |
Net Income |
1,190 |
1,270 |
1,385 |
16 % |
9 % |
2,377 |
2,655 |
12 % |
EBITDA Margin |
34.3 % |
35.4 % |
37.9 % |
352bps |
246bps |
34.4 % |
36.6 % |
219bps |
Net Income Margin |
19.6 % |
20.8 % |
23.2 % |
366bps |
242bps |
19.7 % |
22.0 % |
236bps |
Key dates of the H1 2025 interim dividend payment:
Board of Directors' approval |
August 5, 2025 |
Entitlement date (last day to purchase) |
August 13, 2025 |
Ex-Dividend date |
August 14, 2025 |
Record date |
August 15, 2025 |
Expected Payment date |
September 3, 2025 |
Alternative performance measures:
- Financial information as presented above includes ADNOC Gas' proportionate consolidation of JVs financial results.
- EBITDA includes proportionate consolidation of JVs and represents Earnings Before Interest, Tax, Depreciation and Amortization.
- The reconciliation between the financial data as presented and the IFRS financial statements is presented in the Management Discussion & Analysis Report.
*Assumes flat prices across the Company's product portfolio and an 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.
About ADNOC Gas
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. To find out more, visit: www.adnocgas.ae
(X) @ADNOCGas
For investor inquiries, please contact:
Richard Griffith
Vice President, Investor Relations
+971 (2) 6037445
[email protected]
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