Tue 26-01-2021 09:02 AM
ABU DHABI, 26th January, 2021 (WAM) -- ADNOC maintained in 2021 its position as the UAE’s most valuable brand for the third consecutive year, according to a new report from Brand Finance, the world’s leading independent branded business valuation consultancy.
ADNOC’s US$10.8 billion (AED39.7 billion) 2021 brand value, a triple-digit percentage increase since the launch of its transformation strategy in 2016, makes it the second most valuable brand in the Middle East and among the top ten most valuable brands in the Oil &Gas (O&G) sector.
Brand Finance also ranked ADNOC Group CEO, Dr. Sultan Ahmed Al Jaber, number one across all O&G CEOs globally and all Middle East CEOs for brand stewardship. Across all sectors, Dr. Al Jaber was ranked thirteenth globally, the highest ranking achieved for a UAE National to date.
Dr. Sultan bin Ahmed Al Jaber, who is also the Minister of Industry and Advanced Technology, said, "The resilience of ADNOC’s brand value, despite the COVID-19 pandemic, is a testament to the vision of our wise leadership throughout ADNOC’s unification and transformation, helping to secure the Group’s position as a responsible and sustainable driver of economic growth in the UAE now and for many generations to come.
"These accolades are, at the same time, reflective of the significant collective efforts of ADNOC’s workforce, which has shown extraordinary strength, commitment and resilience in maximising our contributions to Abu Dhabi and the UAE. Today, ADNOC still has much to achieve, and I am grateful for the opportunity to lead this extraordinary organisation through its next phase of growth."
According to Brand Finance, brand value is understood as 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.