Subsidiaries of the government-controlled  Abu Dhabi National Oil Company (ADNOC) recorded strong performance in the first quarter of 2025, with their net profits growing by nearly 9 percent, the semi-official daily Alittihad reported on Friday.

The net earnings of six companies listed on the UAE bourse increased to nearly 8.53 billion UAE dirhams ($2.32 billion) in the first quarter of this year from about AED7.83 billion ($2.13 billion) in the first quarter of 2024, the report showed.

Their combined revenues also swelled by around 8.6 percent to AED42 billion ($11.44 billion) from AED38.65 billion ($10.53 billion) in the same period.

The report showed ADNOC Gas was the star performer in the first quarter of 2025, netting more than half the combined profits of the six firms.

Its net earnings grew by nearly 7 percent to AED4.664 billion ($1.27 billion) from around AED4.359 billion ($1.18 billion) during that period.

Borouge also recorded a 3.7 percent profit growth to around $281 million from $271 million while its revenues increased by nine percent to $1.42  billion from about $1.29 billion), the report showed.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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