Abu Dhabi, UAE — ADNOC Logistics & Services (ADNOC L&S) has approved a final dividend of $136.5 million (AED501.3 million) for 2024, bringing the 2024 full-year dividend to $273 million (AED1,001 million), a 5 percent increase year-on-year, in line with ADNOC L&S’ progressive dividend policy.
The final dividend, equivalent to 6.78 fils per share, will be paid to shareholders on record as of 3rd April 2025.
ADNOC L&S delivered exceptional financial growth, driven by strong market demand, strategic acquisitions, and operational efficiency, the company said.
Revenue increased 29 percent year-on-year to over $3.5 billion (AED13 billion), while net profit rose 22 percent to $756 million (AED2.7 billion).
EBITDA grew 31 percent year-on-year, reflecting ADNOC L&S’ ability to scale operations while maintaining profitability.
Since its 2023 IPO, the company’s share price has increased by 178 percent, significantly outperforming the ADX and strengthening investor trust in ADNOC L&S’ long-term strategy.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said, “ADNOC L&S is well-positioned for continued success. We are unwavering in our commitment to growth, both organic and through strategic acquisitions, and this will continue to deliver value to customers, shareholders, and the UAE.
“We are equally committed to developing Emirati talent and supporting the UAE economy, having invested nearly AED1 billion in workforce development and local partnerships in 2024. ADNOC L&S remains a key contributor to ADNOC’s In-Country Value (ICV) program, fostering the next generation of maritime industry leaders.”
In 2024, ADNOC L&S continued executing one of the industry’s largest fleet expansion programs, securing 21 new environmentally efficient vessels equipped with low-emission dual-fuel engines. The company also took delivery of its first of six newbuild LNG carriers, with the second expected in May 2025.
In 2024, the company achieved an 11 percent reduction in carbon intensity compared with the previous year, with a 56 percent reduction in fleet emissions since 2019, aligning with ADNOC’s broader decarbonization objectives.
The Integrated Logistics business segment saw significant expansion, securing hire contracts for 19 jack-up barge deployments and acquiring 20 offshore assets. These developments reinforce ADNOC L&S’ leadership in offshore logistics, supporting ADNOC’s broader energy growth strategy.
