emirates7 - ADNOC Logistics and Services (ADNOC L&S) plc released its financial results for the first quarter (Q1) ending 31st March 2025, reporting a strong year-on-year performance. The company recorded revenues of $1.181 billion (AED 4.339 billion), marking a 41% increase compared to Q1 2024.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed 20% to $344 million (AED 1.262 billion), maintaining a healthy EBITDA margin of 29%, supported by strong performance across all business segments.
Net profit for the quarter stood at $185 million (AED 678 million), representing a 5% decline from Q1 2024, largely due to softer commercial shipping rates. However, this figure reflects a 3% improvement over the previous quarter.
Despite shifting market dynamics, ADNOC L&S continues to demonstrate resilience through its diversified strategy and robust operating model. The company is focused on driving greater value and efficiency from its asset portfolio and capitalizing on synergies with its subsidiaries, Navig8 and Zakher Marine International (ZMI).
CEO Captain Abdulkareem Al Masabi highlighted the company’s solid financial performance and continued growth trajectory. He noted that the recent acquisition of an 80% stake in Navig8 and its integration into ADNOC L&S's service offerings has enhanced customer value and expanded the company’s global presence. He added that the company remains committed to executing its growth strategy while adopting advanced technologies and AI to boost operational efficiency.
The Integrated Logistics segment posted revenues of $628 million (AED 2.307 billion), a 23% year-on-year increase, driven by progress on major EPC projects like Al Omairah Island and Hail & Ghasha, as well as improved Jack-Up Barge (JUB) utilization and rates. EBITDA for this segment rose 15% to $182 million (AED 669 million).
The Shipping segment saw the largest growth, with revenue surging 87% to $469 million (AED 1.722 billion), mainly due to the integration of Navig8’s tanker fleet. Shipping EBITDA rose 26% to $143 million (AED 527 million), achieving a solid margin of 31%.
The Services segment also grew, with revenues rising 9% to $84 million (AED 310 million) and EBITDA increasing 52% year-on-year to $18 million (AED 66 million), supported by higher container volumes at the Borouge Terminal and profit contributions from Integr8.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed 20% to $344 million (AED 1.262 billion), maintaining a healthy EBITDA margin of 29%, supported by strong performance across all business segments.
Net profit for the quarter stood at $185 million (AED 678 million), representing a 5% decline from Q1 2024, largely due to softer commercial shipping rates. However, this figure reflects a 3% improvement over the previous quarter.
Despite shifting market dynamics, ADNOC L&S continues to demonstrate resilience through its diversified strategy and robust operating model. The company is focused on driving greater value and efficiency from its asset portfolio and capitalizing on synergies with its subsidiaries, Navig8 and Zakher Marine International (ZMI).
CEO Captain Abdulkareem Al Masabi highlighted the company’s solid financial performance and continued growth trajectory. He noted that the recent acquisition of an 80% stake in Navig8 and its integration into ADNOC L&S's service offerings has enhanced customer value and expanded the company’s global presence. He added that the company remains committed to executing its growth strategy while adopting advanced technologies and AI to boost operational efficiency.
The Integrated Logistics segment posted revenues of $628 million (AED 2.307 billion), a 23% year-on-year increase, driven by progress on major EPC projects like Al Omairah Island and Hail & Ghasha, as well as improved Jack-Up Barge (JUB) utilization and rates. EBITDA for this segment rose 15% to $182 million (AED 669 million).
The Shipping segment saw the largest growth, with revenue surging 87% to $469 million (AED 1.722 billion), mainly due to the integration of Navig8’s tanker fleet. Shipping EBITDA rose 26% to $143 million (AED 527 million), achieving a solid margin of 31%.
The Services segment also grew, with revenues rising 9% to $84 million (AED 310 million) and EBITDA increasing 52% year-on-year to $18 million (AED 66 million), supported by higher container volumes at the Borouge Terminal and profit contributions from Integr8.