ADNOC Logistics & Services (ADNOC L&S) has sharply upgraded its financial outlook for 2026, pointing to significantly stronger profitability than previously anticipated as demand across its shipping operations continues to outperform expectations.
The Abu Dhabi-listed logistics and maritime company now expects net profit to climb in the high-60% range this year, a substantial improvement from its earlier forecast of mid-to-high teens growth. EBITDA projections have also been revised higher, with the company now targeting high-20% growth, replacing its previous estimate of mid-to-high single-digit gains.
Revenue expectations have also turned more optimistic. Instead of the low-to-mid single-digit decline projected earlier, ADNOC L&S now anticipates revenue will register low single-digit growth for the full year.
According to the company, the upgraded guidance reflects its robust performance during the first half of the year, coupled with expectations that favorable market conditions will continue through the remainder of 2026. The shipping business has been identified as the primary driver behind the stronger forecast.
Beyond shipping, the company’s Offshore Contracting division has also delivered improved results. Higher material-handling activity across its Integrated Logistics Services Platform (ILSP) has provided additional support to earnings, while expectations for the performance of its jack-up barge fleet remain unchanged.
Despite the stronger earnings outlook, ADNOC L&S said there are no changes to its broader financial strategy. Capital expenditure plans, leverage targets and dividend policy continue to follow the company’s existing capital allocation framework.
ADNOC L&S, which is majority-owned by Abu Dhabi National Oil Company (ADNOC), is scheduled to release its second-quarter 2026 financial results on August 11. The company noted that its full-year performance will continue to depend on developments across regional markets.
