Soaring Profits: Adnoc Group Nets $7.4 Billion, up 11.4% YoY

Six ADNOC subsidiaries listed on the Abu Dhabi Securities Exchange posted combined profits of 27.41 billion dirhams in the first nine months of 2025, up 11.4% from 24.6 billion dirhams in the same period last year. The results show how the UAE's energy giant continues to deliver strong returns despite mixed market conditions across different sectors.

The companies span three key sectors on the exchange. ADNOC Gas, ADNOC Distribution, and ADNOC Drilling operate in energy. Fertiglobe and Borouge are listed under basic materials. ADNOC Logistics & Services sits in the industrial sector.

Together, these firms generated revenues of 142.13 billion dirhams, compared to 136.15 billion dirhams in the first nine months of 2024. That's a 4.4% increase year-over-year.

ADNOC Gas led the pack with net income of 14.66 billion dirhams, up 10% from 13.29 billion dirhams last year. But the company's revenues actually dropped 2% to 66 billion dirhams from 67.4 billion dirhams in the same period of 2024.

ADNOC Distribution hit a milestone with its highest earnings before interest, taxes, depreciation and amortization since going public. Net profits jumped 15.6% to 2.16 billion dirhams from 1.87 billion dirhams. The company sold record fuel volumes of 11.7 billion liters during the nine months, though revenues dipped slightly by 0.7% to 26.43 billion dirhams due to lower selling prices.

ADNOC Drilling showed strong momentum with net profits climbing 17% to 3.89 billion dirhams from 3.32 billion dirhams. Revenues surged 27% to 13.33 billion dirhams from 10.45 billion dirhams, reflecting increased drilling activity.

Fertiglobe, the world's largest seaborne exporter of urea and ammonia combined, delivered the most dramatic improvement. Net profits soared 138% to 1.55 billion dirhams from just 652 million dirhams last year. Revenues rose 30.8% to 7.37 billion dirhams from 5.65 billion dirhams.

Not all companies posted gains. Borouge saw net profits fall 18% to 2.82 billion dirhams from 3.33 billion dirhams. Revenues also declined 5.3% to 15.32 billion dirhams from 16.18 billion dirhams, reflecting softer demand in petrochemicals markets.

ADNOC Logistics & Services rounded out the group with net profits of 2.31 billion dirhams, up 9% from 2.11 billion dirhams. The company's revenues jumped 39% to 13.61 billion dirhams from 9.8 billion dirhams, showing strong growth in the services segment.

These results matter for investors watching the UAE's economic diversification efforts. ADNOC's listed subsidiaries represent different parts of the energy value chain, from upstream drilling to downstream distribution and chemicals. The mixed performance across companies reflects how different segments face varying market pressures, but the overall growth suggests ADNOC's strategy of public listings continues to generate solid returns for shareholders.