New service stations fuel Adnoc Distribution profit jump

Adnoc Distribution, the Abu Dhabi-based fuel and convenience retailer, said net profit jumped in the first quarter of 2026, supported by new service stations and fuel volume growth.

Net profit rose by 21 percent year on year to AED771 million ($210 million) between January and March, as revenue rose 14 percent annually to AED8.8 billion, the company said in a filing to the Abu Dhabi Securities Exchange (ADX) on Wednesday.

The Adnoc subsidiary added 22 new service stations in the first quarter, expanding its total network to 1,032 sites. It remains on track to open 60 to 70 new stations this year.

Fuel volumes reached a first-quarter record of 3.82 billion litres, rising more than 2 percent year on year.

The non-fuel retail business remained a primary growth driver, supported by higher customer footfall, improved conversion rates and convenience offerings

The company plans to open five additional locations of The Hub, a new retail concept three times the size of traditional service stations, in 2026. The Hub numbers are expected to reach 30 by 2030.

Adnoc Distribution’s board approved its first 2026 quarterly dividend of 5.14 fils per share, payable in June 2026. The new dividend policy is set at $700 million per annum, or at least 75 percent of net profit, whichever is higher.

Adnoc owns 77 percent of the fuel distribution company, which was listed on the Abu Dhabi Securities Exchange in December 2017.

The shares closed 2 percent lower at AED3.8 on Tuesday, nearly 3 percent lower so far this year.

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