ADNOC’s listed companies reported a strong Q1 2026 performance despite global market volatility and logistics disruptions, supported by resilient operations, strong cash generation and disciplined capital allocation.
Combined Q1 2026 performance across ADNOC’s listed companies included:
• Revenue of AED 43.4 billion
• EBITDA of AED 13.6 billion
• Net profit of AED 7.9 billion
According to the company, ADNOC’s listed portfolio now represents approximately USD 150 billion in combined market capitalization, accounting for more than 20% of the Abu Dhabi Securities Exchange (ADX).
The six ADNOC-listed companies also generated:
• More than USD 2.1 billion in combined net income
• More than USD 1.8 billion in free cash flow during Q1 2026
ADNOC stated that all six listed companies exceeded consensus net income expectations during the quarter.
Key company highlights included:
• ADNOC Distribution reported its highest-ever Q1 EBITDA, supported by fuel demand growth and expansion in non-fuel retail. EBITDA increased 11.7% year-on-year to AED 1.1 billion, while net profit rose 20.6% to AED 771 million.
• ADNOC Drilling delivered record Q1 revenue and net profit, supported by one of the world’s largest rig fleets with 170 rigs operating across the GCC. Revenue rose 5% year-on-year to AED 4.5 billion.
• ADNOC Gas generated free cash flow of AED 2.1 billion and announced a quarterly dividend of USD 941 million scheduled for payment in June 2026.
• ADNOC Logistics & Services upgraded its 2026 guidance after reporting 20% year-on-year growth in net profit to AED 816 million.
• Fertiglobe reported 98% year-on-year growth in adjusted net profit to AED 532 million, supported by stronger global pricing and demand conditions.
• Borouge maintained resilient operational performance despite logistics disruptions, supported by 98% production nameplate capacity utilization.
ADNOC also stated that its listed companies have reiterated all dividend commitments, with four of the six companies now paying quarterly dividends.
Looking ahead, ADNOC highlighted AED 200 billion in planned project awards between 2026 and 2028, which the company expects to support long-term activity growth and earnings visibility across its listed portfolio.
Source: ADNOC Q1 2026 Presentation
Disclaimer: This post is for informational purposes only and should not be considered investment or financial advice.