The company said, in a statement on the Abu Dhabi Financial Market website, that the company’s unaudited adjusted revenue for the fiscal year amounted to $24.7 billion (about 90.7 billion dirhams), an increase of $5.2 billion, or 27 percent, compared to $19.5 billion (71.6 billion dirhams) recorded. As revenue for fiscal year 2021.
ADNOC Gas explained that this increase was driven by strong market conditions that supported an improved pricing environment and an increase of approximately 3 percent in sales volume during the period.
Unaudited adjusted EBITDA grew to $8.7 billion, up $2.1 billion, or 32 percent, compared to $6.6 billion for fiscal 2021.
The focus on raising operational efficiencies contributed to increasing the adjusted profit margin before interest, tax, depreciation, and amortization to 35 percent, compared to 34 percent for fiscal year 2021. The indicative free cash flow for fiscal year 2022 increased by 35 percent, from about $4 billion in fiscal year 2021 to about 5.2 billion. dollars, benefiting from higher interest-adjusted earnings, tax, depreciation, and amortization, and lower capital expenditures during the same year.
As a result, the unaudited adjusted net income for the fiscal year 2022 amounted to about $4.9 billion, which represents an increase of approximately 37 percent compared to the adjusted unaudited net income for the fiscal year 2021 of about $3.6 billion (13.2 billion dirhams).
It is worth noting that the IPO of ADNOC Gas is the largest initial public offering in the world so far during 2023, and the largest listing ever on the Abu Dhabi Stock Exchange, as the volume of the offering amounted to about $2.5 billion after setting the final share price at 2.37. dirhams ($0.645), and the company’s market value is about $50 billion.
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