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ADNOC Gas (ADNOCGAS) investor relations material
ADNOC Gas Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Achieved record adjusted net income of $1.34 billion in Q3 2025, up 8% year-over-year, despite a 14% lower oil price environment.
Strong domestic gas demand in UAE and Asia, with UAE demand expected to grow 4%-5% annually and Asia's energy needs to rise 1.5x by 2030.
Announced extension of 5% annual dividend growth policy through 2030, with quarterly dividends starting Q3 2025.
ADNOC completed a marketed offering of 4% of the company’s share capital in February 2025, reducing its ownership to 86%.
On 11 September 2025, ADNOC transferred its shareholding to XRG P.J.S.C., a wholly owned ADNOC subsidiary, with no change in ultimate control.
Financial highlights
Adjusted net income for Q3 2025 reached $1.34 billion, an 8% increase year-over-year.
Domestic gas business delivered adjusted EBITDA of $914 million, up 26% year-over-year.
Year-to-date net income rose 30% from 2023 to 2025, despite a 13% drop in oil prices.
Free cash flow for the first nine months of 2025 was $2.7 billion, covering both CAPEX and dividends.
Total revenue for the nine months was USD 14,182,972 thousand, down slightly from USD 14,293,897 thousand year-over-year.
Outlook and guidance
Targeting 30% capacity expansion and 40% EBITDA growth by 2029, supported by $20 billion CAPEX.
Quarterly dividend payments to begin, with $24.4 billion in dividends expected through 2030.
EBITDA margin reached 36.6%, above previous guidance of 33-35%.
Updated 2025 sales volume guidance: Domestic Gas 2,425–2,435 TBTU, Exports & Traded Liquids 1,035–1,045 TBTU, LNG JV Products 225–235 TBTU.
Subsequent to period end, a 20-year feed gas supply agreement was signed with ADNOC Ruwais LNG, commencing post 1 October 2028.
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Q4 20255 Feb, 2026
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Frequently asked questions
ADNOC Gas plc is a prominent integrated gas processing company based in the United Arab Emirates. The company engages in producing, processing, and marketing natural gas and its derivatives. ADNOC Gas handles associated and non-associated gas from onshore and offshore oil and gas production sites. It supplies a variety of products including natural gas liquids (NGLs) such as propane, butane, and paraffinic naphtha, as well as non-NGL products like ethane and sulfur. ADNOC Gas also operates an extensive pipeline network and provides industrial gases to the oil and gas sector. The company is headquartered in Abu Dhabi, United Arab Emirates, and its shares are listed on the Abu Dhabi Securities Exchange.
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