ADNOC Logistics & Services Reports Record Q2 2025 Performance, Upgrades Full-Year EBITDA Outlook
ADNOC Logistics and Services plc, the global energy maritime logistics leader, has announced its highest-ever quarterly and first-half financial results, significantly exceeding market expectations. The exceptional performance underlines the Company’s resilience, operational strength, and ability to deliver consistent growth despite ongoing market volatility and challenging global shipping conditions.
The results for the second quarter (Q2) and first half (H1) of 2025 showcase ADNOC L&S’s ability to sustain momentum across all its operating segments, capitalizing on a diversified and integrated business model while maintaining strategic discipline in capital allocation and operational efficiency.
Exceptional Q2 2025 Performance
In Q2 2025, ADNOC L&S posted a remarkable 40% year-on-year (YoY) revenue growth, reaching $1,258 million (AED 4,618 million) compared to the same quarter in 2024. This surge was accompanied by a 31% YoY increase in EBITDA, which reached $400 million (AED 1,470 million), reflecting improved efficiency, disciplined cost management, and optimized asset utilization across the fleet and logistics operations.
Net profit for the quarter grew 14% YoY to $236 million (AED 866 million), driven by strong operational performance across Integrated Logistics, Shipping, and Marine Services. Despite pressure from lower charter rates in certain segments such as Gas, Tankers, and Dry Bulk, ADNOC L&S leveraged its scale, strategic contracts, and long-term customer relationships to deliver superior returns.
Solid H1 2025 Results and Sustainable Growth
For the first six months of 2025, ADNOC L&S achieved revenue of $2,439 million (AED 8,957 million), also up 40% YoY. This performance was supported by broad-based strength across the Company’s portfolio and an ability to adapt quickly to fluctuating market conditions.
EBITDA for the first half of the year reached $744 million (AED 2,732 million), representing a 26% YoY increase, with a healthy EBITDA margin of 30% maintained. This reflects ADNOC L&S’s disciplined approach to cost control, operational optimization, and ongoing investment in fleet modernization.
Net profit for H1 2025 stood at $420 million (AED 1,544 million) – a 5% increase YoY and 18% higher compared to the second half of 2024. The improvement was largely driven by the integration of high-performing subsidiaries, efficiency enhancements in fleet deployment, and growth in the Company’s service offerings.
The ability to deliver strong results despite headwinds from the global shipping market reinforces ADNOC L&S’s strategic resilience. Its diversified business model – encompassing Integrated Logistics, Shipping, and Marine Services – provides a natural hedge against volatility in any single segment.
Upgraded Full-Year Guidance
On the back of its strong Q2 and H1 performance, ADNOC L&S has upgraded its full-year EBITDA guidance for 2025. The Company now expects higher-than-previously-forecast growth, supported by:
- Continued momentum across its Integrated Logistics segment.
- Efficiency gains from fleet optimization and digitalization initiatives.
- Strategic partnerships that are expanding market reach and service capabilities.
- Strong contributions from recently integrated subsidiaries such as Navig8 and Zakher Marine International (ZMI).
The upgraded outlook reflects ADNOC L&S’s confidence in sustaining operational excellence, delivering consistent cash flows, and creating long-term shareholder value.
Strategic Drivers Behind the Record Results
Several strategic factors contributed to ADNOC L&S’s record-setting performance:
- Integrated Logistics Strength – ADNOC L&S’s logistics segment delivered robust growth, benefiting from long-term contracts and increased project activity supporting ADNOC Group and third-party customers.
- Shipping Operations Resilience – Despite weaker market rates in certain vessel classes, the Company’s scale, diversified fleet composition, and balanced contract mix helped offset volatility and maintain profitability.
- Marine Services Expansion – The Marine Services business, bolstered by the ZMI acquisition, continued to enhance ADNOC L&S’s offshore capabilities, supporting increased oilfield activity in the region.
- Operational Efficiency & Fleet Modernization – Ongoing investment in newer, more fuel-efficient vessels and digital solutions has reduced operating costs and improved turnaround times, enhancing service reliability for customers.
- Strategic Partnerships – Collaborations with global shipping and logistics partners, including Navig8, have expanded market access, diversified revenue streams, and enhanced the Company’s competitive position in international trade lanes.
CEO Statement
Commenting on the results, Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said:
“We are proud to report our highest-ever quarterly results, underscoring the strength of our growth strategy and our ability to capitalize on diversified opportunities across our Integrated Logistics, Shipping, and Services segments. This record-breaking performance reflects ADNOC L&S’s continued outperformance of market expectations, driven by robust cash flows, strategic partnerships, and operational excellence. In line with this momentum, our upgraded full-year guidance demonstrates our confidence in delivering long-term value to shareholders.”
Captain Al Masabi emphasized that ADNOC L&S will continue to invest in innovation, sustainability, and fleet modernization, aligning its operations with the UAE’s long-term energy and maritime strategies.
Resilience in a Challenging Market
The global shipping industry continues to face headwinds, including fluctuating charter rates, supply chain disruptions, and energy market uncertainties. ADNOC L&S’s ability to deliver double-digit growth in such an environment reflects its strategic foresight and strong execution capabilities.
Key resilience factors include:
- Diversification of revenue streams to reduce dependency on any single segment or market.
- Long-term contractual relationships that provide revenue stability and visibility.
- Regional dominance with global reach, enabling ADNOC L&S to capture opportunities both within the UAE and internationally.
- Robust balance sheet allowing continued investment in growth initiatives without compromising financial discipline.
Focus on Shareholder Value Creation
ADNOC L&S has a clear commitment to delivering sustainable value to shareholders through:
- Consistent dividend policy, supported by strong cash generation.
- Disciplined capital investment, prioritizing high-return projects.
- Strategic M&A activity, such as the integration of ZMI and partnerships with Navig8, which enhance operational capabilities and geographic coverage.
The Company’s operational performance, combined with a proactive approach to market challenges, positions it well for continued growth through the remainder of 2025 and beyond.
As ADNOC L&S moves into the second half of 2025, its strategic priorities include:
- Further strengthening its integrated logistics offering to capture growth in regional and global trade.
- Expanding its offshore marine services to support rising energy sector activity.
- Continuing to modernize and digitalize its fleet and operations, enhancing efficiency and sustainability.
- Leveraging synergies from its recent acquisitions and partnerships to unlock additional value.
The upgraded EBITDA guidance reflects ADNOC L&S’s strong confidence in its operational trajectory and market positioning. The Company’s ability to consistently outperform industry benchmarks positions it as a key driver of growth within the ADNOC Group and the broader UAE economy.
ADNOC L&S is the maritime logistics arm of the Abu Dhabi National Oil Company (ADNOC) and a leading global energy maritime logistics company. With a diverse fleet and an integrated service portfolio covering shipping, logistics, and marine services, ADNOC L&S plays a critical role in enabling the safe, efficient, and sustainable transportation of energy products worldwid