Abu Dhabi – Mubasher: The net profits of ADNOC Logistics & Services (ADNOC L&S) climbed by 20% to $222.23 million in the first quarter (Q1) of 2026 from $184.54 million in Q1-25.
Basic and diluted earnings per share (EPS) went up to $0.03 as of 31 March 2026 from $0.02 a year earlier, according to the consolidated financial results.
The revenues declined by 10% year-on-year (YoY) to $1.08 billion in Q1-26 from $1.18 billion.
ADNOC L&S recorded EBITDA of $368 million in the first three months (3M) of 2026, marking an annual rise of 7%.
CEO of ADNOC L&S, Abdulkareem Al Masabi, said: “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 leverage long-term contracted revenue representing around 60% of the group’s combined revenue and the AW Shipping joint venture (JV).
In 2025, ADNOC L&S logged 14% YoY higher net profit after tax at $862.84 million when compared to $756.17 million.
