Adnoc Gas reported net income of a "record $5 billion" for the 2024 fiscal year, a 13 per cent year-on-year increase.
The company also recorded $1.38 billion in fourth-quarter profit, its highest quarterly net income since its initial public offering.
Adnoc Gas said the profit increase came on the back of strong demand for domestic gas.
"Adnoc Gas' evolution into one of the highest income generating companies listed in the UAE ... [comes] as we invest in growth projects to meet the growing demand for lower carbon domestic gas, LPG and LNG, both locally and globally as key fuels in the energy transformation," said Fatema Al Nuaimi, chief executive of Adnoc Gas.
The company also reported earnings before interest, taxes, depreciation and amortisation growth of 14 per cent to $8.65 billion, with a stable margin of 25 per cent. Meanwhile, free cash flow for the year reached $4.58 billion.
Adjusted revenue for the 2024 fiscal year rose by 7 per cent annually to $24.43 billion, which the company said was due to a 2 per cent increase in sales volume and improved pricing.
Total sales volumes for the fiscal year were 3,616 million mmbtu, a 2 per cent annual increase. The company said the increase was driven by a 13 per cent increase in the Adnoc LNG (ALNG) joint venture contribution.
Adjusted revenue for the fourth quarter was $6.06 billion while ebitda hit $2.28 billion.
"Our record-breaking fourth quarter results demonstrate our ability to deliver on our ambitious growth strategy as we seek to realise ebitda growth of over 40 per cent by 2029," Ms Al Nuaimi said.
Adnoc Gas said the final dividend for the fiscal year is in line with its policy to increase the annual dividend by 5 per cent year-on-year. It also said it underlines the company's strong free cash flow, "which exceeds the dividend commitment by over $1 billion".
Adnoc Gas confirmed its dividend of $3.41 billion for the 2024 fiscal year. An interim cash dividend of $1.70 billion was paid in December. An additional $1.70 billion is expected to be paid in April pending approval.
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Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
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Courtesy: Carol Glynn, founder of Conscious Finance Coaching
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Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
EPL's youngest
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1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
'The Sky is Everywhere'
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
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Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
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TOUR DE FRANCE INFO
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GOLF’S RAHMBO
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Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
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Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
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