ADNOC maintained in 2023 its position as the UAE’s most valuable brand for the fifth consecutive year, according to a new report from Brand Finance, the world’s leading independent brand valuation consultancy.
ADNOC’s brand value increased by 11% year-on-year to reach $14.2 billion in 2023, an ADNOC statement said on Wednesday.
ADNOC Brand Strength Index increased from 79.1 points to 79.4 points, maintaining its “AA+” rating. Globally amongst all brands, ADNOC climbed 28 places to 138th place from 167th in 2022.
Within the oil and gas industry, ADNOC rose one rank to 8th place.
In terms of brand strength, ADNOC is now the 10th strongest oil and gas brand globally, up two places from 12th in 2022.
The continuous growth of ADNOC’s brand value aligns with the leadership directives, the support of the company’s board of directors, and the efforts and dedication of its employees. ADNOC is committed to making today’s energy cleaner, while investing in the clean energies of tomorrow and the company continues to strengthen its position as a reliable and responsible global energy provider.
According to Brand Finance, brand value is the net economic benefit that a brand owner would achieve by licensing the brand in the open market. Brand value is determined through a balanced scorecard of factors, including marketing investment, stakeholder equity, and business performance.
e& named MEA’s most valuable portfolio
e& (formerly known as Etisalat Group) has consolidated its position as the most valuable portfolio of telecom brands in the Middle East and Africa (MEA), according to the 2023 Brand Finance Global 500 Report released at the World Economic Forum (WEF) in Davos.
Highlighting its transformation efforts into a global technology and investment conglomerate, e& has achieved remarkable business growth and unwavering stakeholder confidence in 2022, with its portfolio of brands now exceeding a total value of US$14 billion.
This reflects the success of the Group’s business strategy over the past year, which has introduced further improvements in customer service, more people-focused products and new digital services across its specialist business verticals.
etisalat by e&, the Group’s largest telecom brand, also retained its position as the strongest telecom brands across all categories in the MEA region, achieving a score of 89.1 out of 100 and an “AAA” rating, according to the report. It was also rated one of the top three telecom brands in the world, due to its market reach, operational capabilities, and outstanding customer service record.
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