38 slides from Abu Dhabi National Oil Company For Distribution's earnings presentation, Feb 11, 2025
Slide 1: Full-Year 2024 Results Presentation
ADNOC Classification: Public FULL-YEAR 2024 RESULTS PRESENTATION 11 February 2025 ADNOC DISTRIBUTION
Slide 2: Agenda
ADNOC Classification: Public Agenda 01 02 03 04 KEY ACHIEVEMENTS GROWTH 2024 CLOSING AND OUTLOOK STRATEGY UPDATE RESULTS REMARKS ————————— ————————— ————————— ————————— 2 © ADNOC Distribution
Slide 3: Disclaimer
ADNOC Classification: Public Disclaimer This communication includes forward-looking statements which relate to, among other things, our plans, objectives, goals, strategies, future operational performance and anticipated developments in markets in which operate and in which we may operate in the fut
Slide 4: Key Achievements and Outlook
ADNOC Classification: Public KEY ACHIEVEMENTS AND OUTLOOK 01 Bader Saeed Al Lamki Chief Executive Officer ADNOC DISTRIBUTION
Slide 5: Committed to 100% HSE
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Committed to 100% HSE 2024 HSE performance 0.04 mmhrs TRIR* ————————————— Zero fatalities ————————————— Zero catastrophic events ————————————— 5 © ADNOC Distribution *Total Recor
Slide 6: Sustainability is embedded in our day-to-day operations
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Sustainability is embedded in our day-to-day operations, driving responsible business practices Energy optimisation Reduce energy use across our assets through efficient systems
Slide 7: Record-high 2024 EBITDA and underlying EBITDA driven by highest volumes and NFR growth
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Record-high 2024 EBITDA and underlying EBITDA driven by highest volumes and continuous double-digit NFR* growth Underlying Net profit excl. the Gross profit EBITDA Lorem ipsum Ne
Slide 8: Successfully navigating towards 2028 ambition with strong progress in 2024
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Successfully navigating towards 2028 ambition with strong progress in 2024 2024-28 targets: February 2024 Investor Day +10% in non-fuel transactions vs. target of +50% in transac
Slide 9: Monetizing premium real estate portfolio and scaling up franchise operations
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Monetizing premium real estate portfolio and scaling up franchise operations 2024-28 targets: February 2024 Investor Day 12 Burger King franchise operations vs. target of 50+ fra
Slide 10: Early non-fuel retail gains in 2024 mark the start of accelerated growth
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Early non-fuel retail gains in 2024 mark the start of accelerated growth 2024-28 targets: February 2024 Investor Day +4% in # of convenience stores vs. target of +25% by 2028 vs.
Slide 11: ADNOC Rewards loyalty programme
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix ADNOC Rewards loyalty programme Covering more than half of 4 million vehicles in the UAE 2.3 million ADNOC Rewards members ————————————— +19% year-on-year increase in membership
Slide 12: 2025 guidance: building on strong foundation for continued growth
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix 2025 guidance: building on strong foundation for continued growth 40-50 new service stations incl. 30-40 stations in KSA under CAPEX-light DOCO* model ————————————— ~100 new EV c
Slide 13: Growth Strategy Update
ADNOC Classification: Public GROWTH STRATEGY UPDATE 02 Athmane Benzerroug Chief Strategy, Transformation & Sustainability Officer ADNOC DISTRIBUTION
Slide 14: Fuel business: network growth accelerates amid record fuel demand
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Fuel business Network growth accelerates amid record fuel demand in 2024 +29 stations UAE: +22 (incl. Dubai: +12), KSA: +3, Egypt: +4 ————————————— Contracted 30 stations in KSA
Slide 15: Accelerating smart growth on a dynamic KSA market
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Accelerating smart growth on a dynamic KSA market Double track strategy: maximize value with existing COCO*, expand fast with capital-light DOCO** How capital-light DOCO** model
Slide 16: Future-proofing our business: EV charging
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Future-proofing our business Leveraging UAE network, benefiting from attractive margins 2024 progress: 4X growth to 220 CPs* installed across our network in strategic locations —
Slide 17: Non-fuel retail: leading UAE convenience platform
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Non-fuel retail: leading UAE convenience platform supporting growth potential #1 convenience retailer under leveraging strong brand to expand footprint in the UAE and internation
Slide 18: Non-fuel retail: continues to outpace fuel growth in 2024
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Non-fuel retail: continues to outpace fuel growth in 2024 +12% NFR gross profit Convenience stores, car washes and other car services, property management all growing at double-d
Slide 19: Non-fuel retail: doubling-down on our strategy
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Non-fuel retail: doubling-down on our strategy and targeting higher contribution to our earnings 2021-23 NFR GP growth above industry average* 32% 25% Reinvent C-store experience
Slide 20: Non-fuel retail: highest convenience store conversion rate in 5 years
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Non-fuel retail: achieving the highest convenience store conversion rate* in 5 years Revitalization & enhanced offerings Improved category management, focused marketing & promoti
Slide 21: Non-fuel retail: upscaling car wash
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Non-fuel retail: upscaling car wash to capture untapped growth potential Car wash business growing double-digit faster than gross profit growth of other non-fuel retail verticals
Slide 22: Non-fuel retail: striving for leadership in car care
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Non-fuel retail: striving for leadership in car care in the UAE Car Care Center concept to be scaled based on pilot results – offering customers a range of services: lube change,
Slide 23: Property management: Fill Up, Trade Up, and Build Up
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Non-fuel retail: property management: Fill Up, Trade Up, and Build Up +13% occupied/awarded properties +128 units to 1,151 units at the end of 2024 ————————————— 39 new propertie
Slide 24: AI & digital strategy
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix AI & digital strategy More than 20 new AI projects underway across our value chain Drive Growth Deliver Enhanced Efficiency Elevate Customer Experience ADNOC Distribution is usin
Slide 25: 2024 Results
ADNOC Classification: Public 03 2024 RESULTS Ali Siddiqi Acting Chief Financial Officer ADNOC DISTRIBUTION
Slide 26: Continued improvement in underlying profitability in 2024
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Continued improvement in underlying profitability in 2024 Headline financial performance impacted by lower inventory gains and introduction of the UAE tax Record EBITDA and under
Slide 27: Record operating performance in 2024
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Record operating performance in 2024 Growth momentum maintained in fuel and non-fuel segments Fuel volumes, mL Fuel transactions, UAE, m Non-fuel transactions, UAE, m ———————————
Slide 28: Gross profit by operating segment
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix 2024 gross profit by operating segment Aviation +7% total GP to a new record 5% ————————————— Corporate +3% fuel GP 19% driven by consistent volume growth ————————————— +12% NFR*
Slide 29: OPEX and efficiency improvement
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix 2024 OPEX and efficiency improvement Other* Staff costs +3% underlying OPEX** 12% in line with 3% growth in the Company’s network Utilities ————————————— 9% $18 million Distribut
Slide 30: EBITDA by operating segment
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix 2024 EBITDA by operating segment Aviation +5% EBITDA driven by strong growth across all businesses, 8% Corporate Retail despite lower impact of inventory gains ————————————— +3%
Slide 31: Cash generation
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix 2024 cash generation $756 million 15 - 315 free cash flow ————————————— - 115 1,056 $700 million - 712 2024 dividend* payment supported by strong cash generation ————————————— 0.
Slide 32: Closing Remarks
ADNOC Classification: Public CLOSING REMARKS 04 Bader Saeed Al Lamki Chief Executive Officer ADNOC DISTRIBUTION
Slide 33: Closing remarks
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Closing remarks Accelerate growth with a focus on core UAE market, NFR, int’l contribution and operational excellence Strong execution momentum Deliver incremental and sustainabl
Slide 34: Q&A
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Financial Results Closing Remarks Appendix Q&A Bader Saeed Al Lamki Ali Siddiqi Athmane Benzerroug Chief Executive Officer Acting Chief Financial Chief Strategy, Transformation Officer & Sustainability Officer © ADNOC Dis
Slide 35: ADNOC Distribution 2024 Results Presentation
ADNOC Classification: Public ADNOC DISTRIBUTION 2024 RESULTS PRESENTATION IR@ADNOCDISTRIBUTION.AE ADNOC DISTRIBUTION
Slide 36: Operating performance
ADNOC Classification: Public Key Achievements and Outlook Strategy Update 2024 Q1 Financial 2024 Results Financial Results Closing Remarks Appendix Operating performance million liters Q4 2024 Q4 2023 YoY (%) 2024 2023 YoY (%) 2024 Retail (B2C) 2,719 2,546 6.8% 10,349 9,544 8.4% Fuel volumes Commerc
Slide 37: Financial performance
ADNOC Classification: Public Key Achievements and Outlook Strategy Update Q1 2024 2024 Financial Financial Results Results Closing Remarks Appendix Financial performance $m Q4 2024 Q4 2023 YoY (%) 2024 2023 YoY (%) 2024 Revenue Gross profit 2,406 438 2,604 415 -7.6% 5.4% 9,653 1,692 9,428 1,589 2.4%
Slide 38: ARIF, your Investor Relations AI assistant
ADNOC Classification: Public Key Achievements and Outlook Strategy Update Q1 2024 2024 Financial Financial Results Results Closing Remarks Appendix ARIF, your Investor 2023 Annual Report 2023 ESG Report Relations AI assistant ADNOC Rewards © ADNOC Distribution