AD Ports Group: record revenue

AD Ports Group: record revenue

AD Ports Group H1 revenue surges 21pc to $499m

01 November 2021

AD Ports Group, a leading global driver of trade and logistics in the UAE, has recorded a revenue of AED1.83 billion ($499 million) for the first half of the year,  up 21 per cent compared to AED1.52 billion ($413 million) last year, mainly driven by organic growth, diversification into new businesses, new leases and partnerships.

Announcing its financial results for the first six months ended June 30, 2021, AD Ports Group said its EBITDA rose 8 per cent year-on-year to AED770 million, up from AED714 million last year, with growth across most of the business clusters.

Group CEO Captain Mohamed Juma Al Shamsi said: “Our results demonstrate our resilience and the robust growth we have achieved across our business in line with our strategy. We are committed to driving development and diversification to Abu Dhabi and the UAE’s economy.”

“Our financial performance is underpinned by continued expansions and increased activity, with key partnerships and joint ventures being established that are expected to deliver reliable returns in the future,” he stated.

According to him, the underlying business witnessed cargo volumes growing from 15 million metric tonnes in H1 last year to 25 million metric tonnes in H1 2021, while container throughput grew from 1.57 million TEUs (twenty-foot equivalent units) to 1.59 million TEUs during the same period.

The industrial zones leased about 2.4 million sq. metres of land during H1 2021. n

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