(MT Newswires) -- Peter Van Driel, Chief Financial Officer of ADNOC Gas, has announced positive financial results for the company, with a significant increase in the share price, which has risen by more than 30% since its IPO in March 2023. Net profit for the last quarter was $1.3 billion, an increase of 24% on the previous year, while full-year profit reached $4.7 billion.
He stressed that ADNOC Gas had consolidated its presence in the international liquefied natural gas (LNG) market by signing a supply contract with GAIL in India, and was continuing to export to Asia and Europe. He also mentions the company's financial structure, which ensures an EBITDA margin of around 33-34%. This stability is possible thanks to a predictable margin model and profit-sharing agreements with suppliers, providing the Group with a hedge against fluctuations in market prices.
He added that despite concerns in the Red Sea, ADNOC Gas has not experienced any disruption to its gas processing and export activities, ensuring 99% operational reliability.

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