ADNOC Gas plc released its financial results for the second quarter of 2024, announcing that the company's adjusted net income reached $1,190 million.

According to Amac News: In the financial report of ADNOC Gas plc, it is stated that the recorded figure shows a 21% improvement compared to last year.
According to the report, the revenues of the second quarter of 6076 million dollars have increased by 13% compared to the previous year. In the UAE, population growth and industrial growth have contributed to stronger sales for the domestic gas trade.
ADNOC Gas meets more than 60% of the UAE's gas demand and contributes to the development of key industrial sectors, including petrochemical growth.
EBITDA growth outpaced revenue improvement during the quarter, reaching $2,086 million, an 18% year-over-year increase.
The company's EBITDA margin of 34% is due to the high sales demand and the benefits of the long-term gas supply and purchase contract and the integral role of ADNOC Gas in strengthening and empowering the industrial diversification and growth of the United Arab Emirates.
ADNOC Gas has announced a 5% increase in its annual dividend, in line with its dividend policy, to distribute a total of $3,412 million for the full year (FY) 2024.
The board has approved an interim dividend of $1,706 million that is scheduled to be distributed in September.
The approved interim dividend is equal to the profit per share of 8.164 files. A planned final dividend of $1,706 million will also be distributed in April 2025, pending approval at the annual general meeting.