ADNOC L&S Reports Record Q2 Profit, Raises 2026 Outlook

Aug 11, 2026

91 min

Aug 11, 2026 05:31

ADNOC L&S Q2 profit jumps 303% to record $951 million, raises 2026 guidance again

## Record Profit in Q2

ADNOC Logistics and Services (ADNOC L&S) achieved a record net profit of $951 million in the second quarter, marking a 303% increase from the previous year. This significant growth has led the company to revise its 2026 financial guidance upwards for the third time.

## Revenue and Earnings Growth

The company's revenue for the quarter rose by 98% to $2.58 billion, while EBITDA saw a 176% increase, reaching $1.11 billion. The board has approved an interim dividend of $85.3 million, reflecting strong cash generation.

## First Half Performance

In the first half of the year, ADNOC L&S reported a net profit of $1.17 billion, up 179% from the previous year. Revenue increased by 46% to $3.67 billion, and EBITDA nearly doubled to $1.48 billion. The company attributes this success to robust shipping operations, which benefited from higher charter rates and fleet expansion.

## Shipping Segment Drives Growth

The shipping segment was a major contributor, with revenue increasing by 132% to $2.44 billion. The segment's net profit surged by 693% to $997 million, driven by new vessel additions and favorable market conditions.

## Integrated Logistics Challenges

Conversely, the Integrated Logistics segment faced challenges, with revenue declining by 20% due to the completion of a major project. Despite this, the Services segment saw a 14% revenue increase, supported by new initiatives.

## Revised 2026 Guidance

ADNOC L&S now anticipates a mid-20% revenue growth for the full year, with EBITDA expected to rise by a mid-60% rate. The shipping segment's outlook is particularly strong, with revenue projected to grow by a mid-80% rate.

## Fleet Expansion

The company has invested $2.3 billion in fleet expansion this year, enhancing its capacity to meet future demands. This investment is part of a broader $5.7 billion capital expenditure plan aimed at supporting long-term growth.

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