ADNOC Distribution holds 67% of UAE market; targets acquisitions: CEO

CEO Bader Al Lamki, CEO of ADNOC Distribution

ADNOC Distribution experienced steady growth and development since its listing, currently holding a 67% market share in the United Arab Emirates (UAE), CEO Bader Al Lamki told Argaam.

On the sidelines of Abu Dhabi Finance Week (ADFW), Al Lamki stated that his company targets to distribute a minimum of $700 million or 75% of net profits, whichever is higher.

Al Lamki emphasized that ADNOC Distribution's current financial health is strong, enabling the company to pursue future acquisitions. He added that these acquisitions will be announced at the appropriate time, subject to regulatory approvals.

ADNOC Distribution recently unveiled its five-year strategy focusing on three key axes. It prioritizes enhancing the value of its current portfolio in the UAE, Saudi Arabia, and Egypt, actively working to introduce new services and improve existing ones.

Moreover, it focuses on growth through acquisition after entering Saudi Arabia and Egypt. ADNOC Distribution is now studying many and varied opportunities, with the aim to add value and generate positive returns on investment.

Additionally, ADNOC Distribution is focusing on future growth opportunities, including non-fuel operations and sustainable transportation initiatives, such as electric vehicle charging. The company aims to install 500 electric charging stations within the next five years, having already achieved a milestone of 200 stations this year.

Al Lamki highlighted Saudi Arabia as a large and promising market. The company currently operates 67 stations in the Kingdom and aims to expand its presence further, subject to the availability of necessary resources.