ADNOC L&S Delivers 20% Net Profit Growth in Q1 and Raises 2026 Guidance in International Shipping News 15/05/2026 ADNOC Logistics and Services plc, delivered a resilient performance in the first quarter of 2026, reflecting the strength of its diversified business model and global scale. ADNOC L&S recorded EBITDA of $368 million (AED 1,353 million) for the first three months of 2026, up 7% Year-on-Year (YoY). The EBITDA margin expanded to 34%, up 5 percentage points YoY. Net profit rose 20% YoY to $222 million (AED 816 million). Revenue for the quarter stood at $1,083 million (AED 3,976 million) with the 10% YoY decline reflecting the scheduled runoff of project revenues following the delivery of Al Omairah Island mega project to ADNOC Offshore in Q4 2025. Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said: “ADNOC Logistics & Services delivered firstquarter results growth in a challenging market environment. Despite disruption to maritime traffic through the Strait of Hormuz, our diversified business model continued to perform as expected. Our global scale, longterm contracted revenue base and integrated portfolio underpinned our resilience.” Abdulkareem Al Masabi CEO Higher global shipping rates helped offset the impact of disruptions to international shipping through the Strait of Hormuz. The business continues to benefit from long-term contracted revenue representing approximately 60% of the combined revenue of ADNOC L&S and its AW Shipping joint venture. This provides strong earnings and cash flow visibility. ADNOC L&S has upgraded its full-year 2026 financial guidance, reflecting actual performance through April 2026 and an improved outlook on shipping market fundamentals. The updated assumptions from May onwards reflect supportive demand-supply dynamics while maintaining a prudent and conservative approach relative to prevailing market rates. Offshore contracting guidance also remains conservative, assuming minimum activity levels ami