ADNOC Distribution Company reported a net profit of AED 578 million in the first quarter of 2019, an increase of 6.6% over the same period last year.
Earnings before interest, taxes, amortization and amortization, excluding inventory gains, increased 16.5% to R $ 733 million in the first quarter of 2019 compared to the same period of the previous year Free cash flow – EBITDA, minus expenses Capital increase – 24.9% year-on-year for AED 687 million.
The company's profitability continued to register good results, with the EBITDA margin reaching 15.4% against 13.6% in the first quarter of 2018.
Net income per share of ADNOC in the first quarter of 2019 increased by 6.6% over the previous year to AED 0.046 and increased by 29.6% over the fourth quarter of the previous year. Interest, taxes, amortizations and amortizations at 0.35x as of March 31, 2019.
The number of gas stations in the ADNOC distribution network in the United Arab Emirates increased during the first quarter of 2019 to 379 stations, with the addition of three new stations during the first quarter of 2019. The number of points of sale increased to 252 stores , including 14 Gian stores On March 31, 2019.
Total non-oil profit in the first quarter of 2019 increased by 9.2% compared to the first quarter of 2018. The retail revitalization program further boosted purchasing experience and improved overall margins and increased the average basket size by 13.2% Compared to the same period last year.
"The company achieved a strong start in the fiscal year 2019 thanks to the continued focus on customers and the flexibility of the business model," said Saeed Mubarak Al Rashidi, CEO of ADNOC Distribution. Results for the first quarter of 2019 confirm the company's ambition to maintain strong financial performance. Through superior operational performance and customer service. "
"ADNOC Distribution has once again proven its ability to achieve profitable, long-term growth driven by broader product and service offerings, improved experience and better service, while we continue to focus on making ADNOC Distribution a fuel retailer of world-class retail in the UAE and globally. "He said.
"In response to the interest we receive from international investors, ADNOC Distribution intends to host Capital Markets Days for the first time in London and New York in May.