ADNOC L&S Posts Record Q2 Net Profit of $951 Million as Revenue Nearly Doubles

ABU DHABI — ADNOC Logistics and Services plc (ADNOC L&S) has reported record second-quarter results for 2026, with net profit surging 303% year-on-year to $951 million (AED3.49 billion), supported by strong shipping performance and elevated market rates.

Revenue for the quarter reached $2.584 billion (AED9.49 billion), an increase of 98% from the same period a year earlier. EBITDA climbed 176% to $1.106 billion (AED4.06 billion).

First-Half Profit Reaches $1.17 Billion

For the first six months of 2026, ADNOC L&S recorded revenue of $3.667 billion (AED13.47 billion), up 46% year-on-year. EBITDA rose 98% to $1.475 billion (AED5.42 billion), with the EBITDA margin reaching 40%, while net profit increased 179% to $1.173 billion (AED4.31 billion).

2026 Guidance Raised for Third Time

Following the strong first-half performance, the company raised its full-year 2026 guidance for a third time. ADNOC L&S said its outlook continues to benefit from strong shipping market fundamentals, while full-year results remain sensitive to regional developments.

$2.3 Billion Committed to Fleet Expansion

ADNOC L&S has committed approximately $2.3 billion to vessel acquisitions and newbuilds so far this year as part of $5.7 billion in capital expenditure commitments. The expansion is intended to strengthen its ability to meet ADNOC Group requirements while adding future earnings capacity.

The company also continued its fleet modernisation programme, with the LNG carrier Arada joining the fleet in March 2026 and sister vessel Al Taweelah following in April.

Board Approves Interim Dividend

The board approved an interim cash dividend of $85.3 million (AED313.3 million) for the second quarter. The allocation will be based on shareholdings as of the August 20, 2026 record date.

Shipping Strength Drives Record Performance

ADNOC L&S attributed its performance to its diversified business model, global operations and favourable shipping market conditions. The company said it is also continuing to invest in digital transformation and AI-enabled technologies aimed at improving operational efficiency, safety and performance.

Source: Emirates News Agency (WAM), August 11, 2026; ADNOC Logistics and Services financial results.