Abu dhabi: ADNOC Gas plc and its subsidiaries have reported a net income of $1.1 billion for Q1 2026, highlighting strong operational performance and robust financial health. The Company successfully fulfilled domestic customer requirements while efficiently managing logistics, inventories, and supply chains to mitigate the impact of ongoing export disruptions.
According to Emirates News Agency, Fatema Al Nuaimi, Chief Executive Officer of ADNOC Gas, stated that the quarter faced exceptional external disruption. The Company's priorities were to protect its people and assets, maintain safe domestic supply, and protect shareholder value through disciplined execution. The Q1 results demonstrate resilience, supported by rigorous cost management and a solid balance sheet.
The Company is navigating disruption to maritime movements through the Strait of Hormuz. However, the long-term foundations of ADNOC Gas remain intact. Demand growth in the UAE, supported by continued industrial expansion and increased flexibility associated with the UAE's evolving production framework, reinforces confidence in ADNOC Gas' strategy and dividend commitment.
ADNOC Gas produced $572 million in free cash flow and closed the quarter with $4.2 billion in cash on its balance sheet. The strong financial position enables ongoing investment throughout market cycles, supporting its commitment to meet the 2026 dividend outlook and its policy of annual dividend growth at 5 percent until 2030.
The Board has approved a quarterly dividend of $941 million, set for payment in June 2026. ADNOC Gas' balance sheet strength and disciplined capital allocation continue to underpin the resilience of the business. The Company's long-term growth ambitions remain intact, with its targeted EBITDA growth of over 40 percent between 2023 and 2029 unchanged.
The Company remains optimistic about UAE economic growth, which is boosting domestic demand. This is highlighted by the TA'ZIZ $5 billion supply contract and ADNOC's $55 billion investment in local manufacturing under the Make it in the Emirates initiative. Growth in UAE domestic and industrial customers increases demand for ADNOC Gas, the country's largest energy supplier for power generation and the industrial sector.
ADNOC Gas experienced two security-related incidents at the Habshan site on 3rd and 8th April. This prompted activation of standard response and continuity protocols. The operations teams responded effectively, prioritizing safety and minimizing interruptions to customers. Within a short period, 60 percent of the complex's processing capacity was restored, and the Company is currently working towards achieving 80 percent restoration by the end of 2026, with full capacity restored in 2027.
A detailed technical assessment of the impact from these incidents is progressing amid a dynamic supply chain environment and is nearing completion.