ABU DHABI, 14th May, 2026 (WAM) — ADNOC Logistics and Services plc, delivered a resilient performance in the first quarter of 2026, reflecting the strength of its diversified business model and global scale.
ADNOC L&S recorded EBITDA of $368 million (AED1,353 million) for the first three months of 2026, up 7 percent Year-on-Year (YoY). The EBITDA margin expanded to 34 percent, up 5 percentage points YoY.
Net profit rose 20 percent YoY to $222 million (AED816 million). Revenue for the quarter stood at $1,083 million (AED3,976 million) with the 10 percent YoY decline reflecting the scheduled run‑off of project revenues following the delivery of Al Omairah Island mega project to ADNOC Offshore in Q4 2025.
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said, “ADNOC Logistics & Services delivered first quarter results growth in a challenging market environment. Despite disruption to maritime traffic through the Strait of Hormuz, our diversified business model continued to perform as expected. Our global scale, long term contracted revenue base and integrated portfolio underpinned our resilience.”
Higher global shipping rates helped offset the impact of disruptions to international shipping through the Strait of Hormuz. The business continues to benefit from long-term contracted revenue representing approximately 60 percent of the combined revenue of ADNOC L&S and its AW Shipping joint venture. This provides strong earnings and cash flow visibility.
ADNOC L&S has upgraded its full-year 2026 financial guidance, reflecting actual performance through April 2026 and an improved outlook on shipping market fundamentals.
The updated assumptions from May onwards reflect supportive demand-supply dynamics while maintaining a prudent and conservative approach relative to prevailing market rates. Offshore contracting guidance also remains conservative, assuming minimum activity levels amid regional uncertainty.
ADNOC L&S remains focused on disciplined, value accretive investment to support future revenue and cash flow generation.
Early delivery of an additional next‑generation LNG carrier in March 2026 demonstrates continued execution of the company’s growth strategy, enhancing capacity to support long‑term shareholder value and ADNOC’s expanding global energy supply chain.
Source: Emirates News Agency