ADNOC Gas, listed on the Abu Dhabi Market, announced its preliminary unaudited financial results for the past year. The company achieved positive annual growth in all its main metrics (on an adjusted basis).
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.
