9 November 2026
ADNOC Distribution, the UAE’s largest fuel and convenience retailer, reported on Monday, 9 November 2026, that its net profit for January to September 2026 rose 37% year on year to AED 2.90 billion (USD 791 million). Fuel volumes reached a record 11.86 billion litres. The company opened 71 new service stations in nine months, bringing its network to 1,081 sites, and raised its 2026 target to 80 to 90 new stations. The board approved a third-quarter dividend of AED 643 million (USD 175 million), and full-year 2026 dividends are expected to exceed USD 700 million (about AED 2.57 billion).
Key figures for January to September 2026
The Abu Dhabi-listed company published the following results, as reported by Gulf News and Khaleej Times:
- net profit: AED 2.90 billion (USD 791 million), up 37% year on year;
- EBITDA: AED 4.10 billion (USD 1.12 billion), up 26%;
- underlying EBITDA: AED 3.47 billion (USD 944 million), up 14%;
- gross profit: AED 6.12 billion (USD 1.67 billion), up 20%;
- fuel volumes: a record 11.86 billion litres, of which 8.26 billion litres went through retail;
- non-fuel retail gross profit: AED 797 million (USD 217 million), up 13%.
The company attributed the growth in gross profit to higher fuel volumes, inventory gains and rising contributions from non-fuel retail and international operations. For comparison, in the first nine months of 2025 ADNOC Distribution reported net profit of USD 579 million (about AED 2.13 billion) and fuel volumes of 11.7 billion litres, then also a record for the period.
How the year built up quarter by quarter
In the first half of 2026 net profit rose 59% to a record USD 568 million (about AED 2.09 billion), as we reported in our article on ADNOC Distribution’s first-half 2026 results. By our calculation from the reported figures, the third quarter alone brought about USD 223 million of net profit, close to the USD 221 million reported for the third quarter of 2025. Most of the nine-month increase was therefore earned in the first half of the year.
| Indicator | 9M 2025 | 9M 2026 |
|---|---|---|
| Net profit | USD 579 million | USD 791 million (AED 2.90 billion) |
| Fuel volumes | 11.7 billion litres | 11.86 billion litres |
| New stations in nine months | 85 | 71 |
| Network at end of September | about 980 sites | 1,081 sites |
Network: 1,081 stations and a higher 2026 target
ADNOC Distribution opened 71 stations between January and September 2026. That met its original full-year target ahead of schedule, so the company raised its 2026 guidance to 80 to 90 new stations. At the end of September its network counted 1,081 sites.
Other parts of the network also grew:
- the E2GO electric vehicle charging network expanded 18% year on year, with a target of 50 to 60 new charging points in 2026;
- eight Hub by ADNOC roadside sites are in operation, each with a retail footprint three times larger than a standard station; the company plans 30 by 2030, including five new sites in 2026;
- ADNOC Rewards membership rose 15%.
Non-fuel retail and AI
Gross profit from non-fuel retail grew faster than gross profit from fuel retail. Convenience stores and property management led the growth. The company has launched Engage by ADNOC, a retail media network built on its AI programme and customer data, as an additional revenue stream. ADNOC Distribution runs more than 20 AI initiatives, covering fuel demand forecasting, supply chain optimisation and customer engagement.
“We are building on this momentum to future-proof our growth by scaling higher-margin NFR opportunities and progressing our international strategy,” said Eng. Bader Saeed Al Lamki, Chief Executive Officer of ADNOC Distribution. He described the company as “transforming into a leading international mobility and convenience retailer”.
South Africa: a fourth country
ADNOC Distribution has proposed acquiring Shell Downstream South Africa. The deal is subject to regulatory approvals and other closing conditions. If completed, South Africa would become the company’s fourth country of operation. Management expects the acquisition to lift earnings per share by 6% in the first full year after completion.
Dividend: dates for shareholders
The board approved a third-quarter dividend of 5.14 fils per share, or AED 643 million (USD 175 million), payable in early December 2026. The key dates are:
- Thursday, 12 November 2026: last day to hold shares to qualify for the dividend;
- Friday, 13 November 2026: ex-dividend date;
- Monday, 16 November 2026: record date.
With this payment, total dividends since the company’s listing in 2017 reach AED 22 billion (USD 6 billion). Under the dividend policy for 2026 to 2030, ADNOC Distribution distributes each year USD 700 million or at least 75% of net profit, whichever is higher. The company expects total dividends for 2026 to exceed USD 700 million.
What it means for companies in the UAE
The results do not change any rules, fees or procedures. Retail fuel prices in the UAE are reviewed monthly by the UAE Fuel Price Committee, and the results announcement did not mention any change to that mechanism. Three practical points follow from the report:
- Suppliers and brands. Convenience stores, Hub by ADNOC sites and the Engage by ADNOC media network are growing faster than fuel sales. For food, beverage and consumer goods companies, the station network is a retail and advertising channel, and selling into it requires a licensed UAE company with the right activities.
- Fleets and logistics. With 80 to 90 new stations planned for 2026 and an expanding E2GO network, companies running vehicle fleets get more refuelling and charging points along their routes.
- Investors. The 2026 to 2030 policy fixes a minimum annual payout of USD 700 million, and the record date for the third-quarter dividend is 16 November 2026.
A business that plans to supply UAE retail chains or run a distribution company needs a licence and a corporate account in place before the first contract. Our guide to opening a bank account in the UAE explains the documents and steps involved. Another large Abu Dhabi group reported this season as well: see our review of IHC’s nine-month 2026 results.
How Atlant Capital can help
Atlant Capital supports entrepreneurs entering the UAE market: we select the jurisdiction and licence activities for trading, retail or logistics, register the company, arrange visas and help open a corporate bank account. Details are on our company setup and bank account opening pages. For a specific project, contact us.
Conclusion
ADNOC Distribution’s net profit for January to September 2026 rose 37% to AED 2.90 billion on record fuel volumes of 11.86 billion litres. The network reached 1,081 sites, the 2026 target was raised to 80 to 90 new stations, and the third-quarter dividend of AED 643 million goes to shareholders on record as of 16 November 2026. The proposed purchase of Shell Downstream South Africa still awaits regulatory approvals.
Source: Gulf News, Khaleej Times.
FAQ
How much did ADNOC Distribution earn in the first nine months of 2026?
ADNOC Distribution’s net profit for January to September 2026 was AED 2.90 billion (USD 791 million), up 37% year on year. EBITDA rose 26% to AED 4.10 billion and gross profit rose 20% to AED 6.12 billion. Fuel volumes reached a record 11.86 billion litres.
What is ADNOC Distribution’s third-quarter 2026 dividend and when is it paid?
The board approved 5.14 fils per share, or AED 643 million (USD 175 million), payable in early December 2026. The last day to hold shares to qualify is 12 November 2026, the ex-dividend date is 13 November and the record date is 16 November 2026.
How many service stations does ADNOC Distribution have?
At the end of September 2026 the company’s network counted 1,081 sites. It opened 71 stations in the first nine months of 2026 and raised its full-year target to 80 to 90 new stations. It also runs eight Hub by ADNOC roadside sites and plans 30 by 2030.
Who sets fuel prices in the UAE?
Retail fuel prices in the UAE are reviewed monthly by the UAE Fuel Price Committee, a system in place since prices were deregulated on 1 August 2015. ADNOC Distribution’s nine-month 2026 results did not mention any change to this mechanism. The company linked its gross profit growth to higher fuel volumes, inventory gains, non-fuel retail and international operations.
