ADNOC Distribution Hosts Investor Suhoor in Abu Dhabi

ADNOC Distribution (ISIN: AEA006101017) (Symbol: ADNOCDIST), the UAE’s largest fuel and convenience retailer and a company listed on Abu Dhabi Securities Exchange (ADX), hosted a traditional Suhoor banquet for its investors and business associates in observance of the Holy Month of Ramadan. Held at the Ritz Carlton Hotel in Abu Dhabi, the event was part of an investor outreach program that included Capital Markets Days in London and New York and was designed to engage local and international stakeholders, informing them of the progress made since the December 2017 IPO and on future plans.

During the event, the management presented ADNOC Distribution’s achievements to date and its solid performance and strong growth trajectory underpinned by the company’s top-line growth in both its fuel and non-fuel business. ADNOC Distribution has also recently announced an EBITDA target in excess of US$1bn by 2023 while maintaining a robust cost optimization program, as well as the new progressive dividend policy earlier in April 2019.

ADNOC Distribution’s Acting CEO, Saeed Mubarak Al Rashdi, said: “We are delighted that our investors and business partners were able to join us for this gathering during the Holy Month of Ramadan. It was the perfect occasion to express our gratitude to the people who have been making fundamental contributions to our success as a listed company by sharing our vision and believing in ADNOC Distribution’s strong growth prospects. The event marked the spirit of togetherness and has also strengthened the relationships that we have with some of our most important stakeholders.”