WOOD Flash – ADNOC Distribution: 2028 strategy update
ADNOC Distribution announced its updated strategy for 2028E on 26 February. The main focus is to lever its existing business, to generate higher throughputs and additional revenues, while growing the underlying business steadily. Management expects to add about 30 retail sites per year, to reach about 1,000 by the end of 2028E. Growth in convenience stores will also be steady, rising 25% by the end of the period, but transactions should grow more rapidly, by 50%, while the share of more profitable product lines should also increase. Although management expects growth in fuel demand, it aims to multiply the number of fast chargers at its sites by at least 10x. There is no target for EBITDA growth over the period, but we believe that it could be in the range of 35-40% higher, based on these plans. The dividend policy has been set for the period at USD 700m, or 75% of the net income, whichever is higher.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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