Revenue surged from USD 1,258 Mn in 2Q25 to USD 2,584 Mn in 2Q26, primarily driven by a sharp increase in Shipping revenue, along with higher revenue from Gas Carriers, Dry-Bulk & Containers and Services. The increase was partially offset by lower revenue from Integrated Logistics.
UAE Equity Research - ADNOC Logistics & Services PLC 1Q26 - First Look Note
Revenue declined 8.4% YOY to USD 1.1 Bn in 1Q26, primarily due to the scheduled run-off of offshore project revenues following the completion of the Al Omairah Island mega project.
UAE Equity Research - ADNOC Logistics & Services PLC (ADNOCLS) 4Q25 - First Look Note
Revenue rose 34.7% YOY to USD 1,187 Mn in 4Q25, driven by the robust performance across shipping and marine segments. The Company expects five LNG vessels to commence contracts with ADNOC Gas from April 2026, including four vessels on 15-year contracts and one on a seven-year contract.
Revenue rose 34.7% YOY to USD 1,187 Mn in 4Q25, attributed to strong growth across shipping and marine segments partially offset by decline in revenue from integrated logistics.
UAE Equity Research - ADNOC Logistics and Services PLC (ADNOCLS) 3Q25 - First Look Note
Revenue rose 36.3% YOY to USD 1,266 Mn in 3Q25, driven by the robust performance across all business segments. ADNOC L&S will join the MSCI Emerging Markets Index after a USD 317 Mn share placement raised free float to 22%.
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