ADNOC L&S, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), announced its financial results for the third quarter and the first nine months of 2024 on Wednesday, November 13.
Publish dateSaturday 16 November 2024 - 11:55
According to Amac News: Based on the company's announcement, its revenue for the first nine months of 2024 reached $2.668 billion (AED 9.798 billion), marking a 38% increase compared to the same period in 2023. EBITDA also rose by 37% to $867 million (AED 3.184 billion), while net profit for the first nine months of 2024 amounted to $576 million (AED 2.117 billion), reflecting a 27% increase year-on-year.
In the third quarter of 2024, the company's revenue increased by 32% year-on-year to $928 million (AED 3.410 billion), with EBITDA growing by 26% to $275 million (AED 1.011 billion). Net profit for this period also saw an 18% increase, reaching $175 million (AED 643 million).
The revenue from the Shipping segment rose to $745 million (AED 2.737 billion), representing a 23% increase, while EBITDA for this segment increased by 32% to $316 million (AED 1.159 billion).
ADNOC L&S, or ADNOC Logistics and Services plc, is one of the subsidiaries of the Abu Dhabi National Oil Company (ADNOC) and provides logistics and support services in the oil and gas industry.
In the third quarter of 2024, the company's revenue increased by 32% year-on-year to $928 million (AED 3.410 billion), with EBITDA growing by 26% to $275 million (AED 1.011 billion). Net profit for this period also saw an 18% increase, reaching $175 million (AED 643 million).
The revenue from the Shipping segment rose to $745 million (AED 2.737 billion), representing a 23% increase, while EBITDA for this segment increased by 32% to $316 million (AED 1.159 billion).
ADNOC L&S, or ADNOC Logistics and Services plc, is one of the subsidiaries of the Abu Dhabi National Oil Company (ADNOC) and provides logistics and support services in the oil and gas industry.
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Source : news agency wam
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