400 million dirhams, net profit of “ADNOC Distribution” during the first quarter – Economy – Local

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“ADNOC Distribution” company announced yesterday its financial results for the first quarter of this year, recording a growth in basic profits before interest, tax, depreciation and amortization by 4.7%, to reach 629 million dirhams, compared to the same period last year, while net profit amounted to 400 One million dirhams, while the company has the ability to achieve cash flows through free cash flows, which amounted to 533 million dirhams.

“ADNOC Distribution” stressed the continued response in an effective and flexible manner to the conditions and challenges accompanying the spread of the “Corona” epidemic, with a focus on the health and safety of its employees, customers and the communities that serve it, based on this outstanding performance and strong budget, and its continued implementation of its strategy for smart growth, including the opening of seven New stations during the first quarter of 2020.

The company stated in a statement that it has accelerated reliance on the application of digital technology in its activities, in response to the current situation, by providing a smooth digital experience for customers in order to enhance its position as a world-class retail fuel distributor, as encouraging the use of mobile phones and technology that allows refueling and payment without touching anyone He founded the company’s strategy to support the uses of digital technology, which resulted in an increase in the number of users of ADNOC’s smart wallet, which contains the option to pay by phone and “the ADNOC Rewards Program”, by more than 100,000 customers during the first quarter of this year, bringing the total count D portfolio users to more than 730 thousand customers.

The liquidity enjoyed by the company on March 31, 2020 amounted to eight billion dirhams, including 5.2 billion dirhams in cash and cash equivalents, and 2.8 billion dirhams in the form of unutilized credit facilities.

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