United Arab Emirates · Delayed Price · Currency is AED Abu Dhabi National Energy Company PJSC Earnings Call Transcripts
Fiscal Year 2025
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Group revenues grew 5% year on year, driven by utilities, while EBITDA and net income declined due to oil and gas decommissioning, lower oil prices, and a one-time Xlinks impairment. Strategic acquisitions in the UK and Uzbekistan expanded the international footprint.
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Q1 2025 delivered resilient results with 4% revenue growth, but EBITDA and net income declined due to oil and gas headwinds. CapEx surged 30% year-on-year, mainly in regulated businesses, while free cash flow and liquidity improved. Strategic M&A and major projects support long-term growth.
Fiscal Year 2024
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Revenue and clean EBITDA grew 7% and 6% year-over-year, driven by transmission, distribution, and TAQA Water Solutions, while reported net income fell due to 2023 one-offs. Major investments and international expansion supported growth, and the full-year dividend rose 6%.
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Q3 2024 saw 14% revenue growth and 15% net profit increase, led by strong utilities and TAQA Water Solutions, while oil and gas declined. Major investments, rebranding, and a successful $1.75B bond issue marked the quarter.
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Q2 2024 saw strong utility performance and SWS consolidation offsetting oil and gas declines, with adjusted EBITDA up 2% and net profit up 18% year-over-year. CapEx and free cash flow nearly doubled, while Fitch upgraded the credit rating to AA.