External broker reports(aggregated public sources), International Securities

International Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>ADNOC Distribution posted 2Q24 core attributable profit (adjusted for inventory gains and forex losses) of AED486mn, up 2% YoY (flat QoQ), in line with our estimates</li><li>On reported basis, attributable profit came in 15% higher YoY at AED979mn</li><li>Retail volumes clocked in at 2,481mn liters in 2Q24, lower by 2% QoQ owing to impact of poor weather and floods in UAE</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

ADNOC Distribution posted 2Q24 core attributable profit (adjusted for inventory gains and forex losses) of AED486mn, up 2% YoY (flat QoQ), in line with our estimatesOn reported basis, attributable profit came in 15% higher YoY at AED979mnRetail volumes clocked in at 2,481mn liters in 2Q24, lower by 2% QoQ owing to impact of poor weather and floods in UAEContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

ADNOC Distribution - 2Q24 Core Profit up 2% YoY (Flat QoQ) To AED486mn