Showing 9 of 22
  • UAE Flag
    FIRST LOOK NOTES
    21 May 2026
    ADNOC Distribution
    BUY
    AED 3.86
    AED 4.70
    +21.76%

    UAE Equity Research - ADNOC Distribution (ADNOCDIST) 1Q26 - First Look Note

    ADNOCDIST’s total fuel volumes increased 2.4% YOY to 3.8 Bn liters in 1Q26, supported by strong retail momentum across the UAE and KSA markets. Continued expanding retail network during 1Q26, adding two new service stations in the UAE and Egypt, also contracting an additional 20 stations in KSA under the capex-light DOCO model.
  • UAE Flag
    FIRST LOOK NOTES
    05 Feb 2026
    ADNOC Distribution
    BUY
    AED 4.06
    AED 4.70
    +15.76%

    UAE Equity Research - ADNOC Distribution (ADNOCDIST) 4Q25 - First Look Note

    ADNOCDIST expanded its footprint to 1,010 service stations and 536 convenience stores across the UAE, KSA, and Egypt in 2025. ADNOCDIST added 99 DOCO sites in 2025, doubling the network, with 30+ already operational and the rest to come online soon, subject to approvals.
  • UAE Flag
    EARNINGS CALL INSIGHT
    05 Feb 2026
    ADNOC Distribution
    BUY
    AED 4.06
    AED 4.70
    +15.76%

    UAE Equity Research - ADNOC Distribution (ADNOCDIST) 4Q25 - Earnings Call Insight

    ADNOC Distribution’s revenue grew 7.0% YOY to AED 9,460 Mn in 4Q25, driven by higher growth in volumes and contribution from non-fuel retail business. Direct cost increased 5.3% YOY to AED 7,609 Mn in 4Q25.
  • UAE Flag
    FIRST LOOK NOTES
    03 Nov 2025
    ADNOC Distribution
    BUY
    AED 3.61
    AED 4.46
    +23.55%

    UAE Equity Research - ADNOC Distribution 3Q25 - First Look Note

    Total fuel volume grew 6.5% YOY to 4,078 Mn liters in 3Q25, attributed to a strong growth in retail and commercial volume. ADNOC Distribution revised its full-year 2025 target upward to 90–100 new stations, of which 80–90 will be located in Saudi Arabia, after exceeding its August 2025 guidance of adding 60–70 new stations.
  • UAE Flag
    FIRST LOOK NOTES
    12 Aug 2025
    ADNOC Distribution
    BUY
    AED 3.74
    AED 4.46
    +19.25%

    UAE Equity Research -ADNOC Distribution 2Q25 - First Look Note

    Total fuel grew 10.3% YOY to 3,899 Mn liters, attributed to a double-digit growth in retail and commercial volume. The Company added 47 service stations in 1H25, achieving its initial full-year target, and revised its guidance to open 60–70 new stations in 2025, including 50-60 stations in KSA.
  • UAE Flag
    EARNINGS CALL INSIGHT
    08 Aug 2025
    ADNOC Distribution
    BUY
    AED 3.70
    AED 4.46
    +20.54%

    UAE Equity Research - ADNOC Distribution 2Q25 - Earnings Call Insight

    Revenue fell 1.7% YOY to AED 8,638 Mn in 2Q25, mainly due to reduced selling prices stemming from a drop in crude oil prices, partially offset by increased fuel volumes in the Retail and Commercial segment, stronger contributions from the Non-fuel Retail segment.
  • UAE Flag
    FIRST LOOK NOTES
    08 May 2025
    ADNOC Distribution
    BUY
    AED 3.42
    AED 4.46
    +30.41%

    UAE Equity Research - ADNOC Distribution 1Q25 - First Look Note

    ADNOCDIST total fuel volume marginally grew 1.1% YOY to 3.7 Bn liters in 1Q25, driven by increased mobility, network expansion, with increased share from KSA operations. The Company expects to add 40 to 50 new service stations across the network with 30 to 40 stores under the DOCO model in 2025.
  • UAE Flag
    EARNINGS CALL INSIGHT
    07 May 2025
    ADNOC Distribution
    BUY
    AED 3.42
    AED 4.46
    +30.41%

    UAE Equity Research - ADNOC Distribution 1Q25 - Earnings Call Insight

    Revenue fell 3.2% YOY to AED 8,473 Mn in 1Q25, mainly due to reduced selling prices stemming from a drop in crude oil prices, partially offset by a growth in fuel volumes and higher contribution from non-fuel segment.
  • UAE Flag
    FIRST LOOK NOTES
    27 Feb 2025
    ADNOC Distribution
    BUY
    AED 3.49
    AED 4.46
    +27.79%

    UAE Equity Research -ADNOC Distribution (ADNOCDIST) 4Q24 - First Look Note

    The company’s total fuel volumes rose 7.2% YOY to 4 Bn liters in 4Q24 due to solid economic activity, increased mobility, and network expansion. ADNOCDIST operated 373 convenience stores in UAE as of 4Q24 and recorded 12.3% YOY growth in total non-fuel transactions to 13.4 Mn in 4Q24.

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