Etihad Energy Holding PJSC has unveiled its consolidated financial results for the first quarter of 2026, marking a transformative period following the acquisition of Brooge Energy. The company's revenue surged to AED 109.7 million, a 64% increase compared to the previous year's Q1 figures, and an impressive 325% higher than Gulf Navigation's AED 25.8 million revenue during the same period last year.

This substantial growth is attributed to the strategic acquisition completed in November 2025, which has significantly enhanced the company's financial and operational performance. The gross profit for Q1 2026 reached AED 62.5 million, with a gross profit margin of 57%, a dramatic improvement from AED 4.6 million and an 18.1% margin recorded in Q1 2025.

Moreover, Etihad Energy's adjusted EBITDA soared to AED 76.9 million, with a margin of 70%, compared to AED 10.3 million and a margin of 40% in the prior year. The company also reported a net profit of AED 19.8 million, a stark contrast to the net loss of AED 6.9 million in Q1 2025.

The acquisition of Brooge Energy has not only strengthened Etihad Energy's financial standing but also aligns with its strategic growth plans. The company is set to double its existing storage capacity with the third expansion phase, while the naphtha-to-gasoline refinery project is advancing with the award of a detailed engineering design contract.

Investors and stakeholders should note that the company's transformation is ongoing, with the regulatory name change process and amendment of the Dubai Financial Market trading symbol expected soon. Given the company's robust financial performance and strategic initiatives, the current recommendation for investors is to hold their position in Etihad Energy Holding PJSC.