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 3Q24 core attributable profit (adjusted for inventory gains and forex gains/losses) of AED595mn, down 2% YoY (+10 QoQ)</li><li>On reported basis, attributable profit came in 7% higher YoY at AED667mn</li><li>The marginal decline in YoY core profits is led mainly due to corporate taxes as the company booked a tax expense of AED74mn in 3Q24 versus AED11mn in 3Q23</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 3Q24 core attributable profit (adjusted for inventory gains and forex gains/losses) of AED595mn, down 2% YoY (+10 QoQ)On reported basis, attributable profit came in 7% higher YoY at AED667mnThe marginal decline in YoY core profits is led mainly due to corporate taxes as the company booked a tax expense of AED74mn in 3Q24 versus AED11mn in 3Q23Content 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 Result Review: 3Q24 Core Profit Down 2% YoY (+10% QoQ) To AED595mn