ADNOC Logistics & Services (ADNOCLS) investor relations material

Executive summary

• Achieved record nine-month 2025 results with revenue of $3.7 billion, EBITDA of $1.123 billion, and net profit of $631 million, surpassing market expectations and delivering strong growth across all business segments.

• Integrated Logistics and Shipping segments delivered significant year-on-year gains, supported by the Navig8 acquisition, robust material handling volumes, and expanded fleet.

• Upgraded dividend policy with a 19–20% increase to $325 million for 2025, transition to quarterly payouts, and a 5% annual growth target through 2030.

• Secured long-term contracts, expanded fleet, and completed major acquisitions, reinforcing global leadership in energy maritime logistics.

• Selected for MSCI Emerging Markets Index, increasing free float to 22% and expected to attract over $200 million in passive inflows.

Financial highlights

• Revenue for nine months ended September 2025 up 39% year-on-year to $3.7 billion; EBITDA up 30% to $1.123 billion; net profit up 9% to $631 million.

• Q3 2025 revenue reached $1.3 billion, EBITDA $379 million, and net profit $211 million.

• Operating free cash flow rose 37% year-on-year to $970 million.

• Invested $1.8 billion in business expansion during the first nine months, including the Navig8 acquisition and vessel investments.

• Issued $1.3 billion in perpetual hybrid equity securities, strengthening capital structure and financial flexibility.

Outlook and guidance

• High 20% year-on-year revenue growth expected for 2025, with low single-digit growth thereafter; EBITDA guided to mid-20% year-on-year growth.

• Net profit expected to grow by low to mid double digits year-on-year, then mid-to-high single digits medium term.

• 2025 dividend increased to $325 million, with 5% annual growth and quarterly distributions.

• Navig8 acquisition and TA'ZIZ port project expected to drive further international expansion and operational synergies.