Growth supported by acquisitions, robust financial results and sustainable development
In a transformative year marked by unprecedented global expansion and strategic acquisitions, AD Ports Group has further cemented its position as one of the world’s leading facilitators of global trade and logistics. The year has been pivotal in enhancing the Group’s connectivity, capacity, and international presence, underscoring a commitment to drive sustainable innovation and excellence across the global trade and logistics sector.
The year also saw AD Ports Group take significant financial strides investing in future growth, including securing a US$ 2bn corporate facility with a syndicate of 13 banks in April 2023. The demand for the facility was overwhelming, demonstrating the confidence that the banking sector has in AD Ports Group’s financial health and future prospects.
During the nine months of 2023, the Group’s revenue grew by 116% YoY to AED 8.11bn, EBITDA grew 30% YoY to AED 2.14bn and net profit grew 14% YoY to AED 1.07bn.
A key milestone in the Group’s international expansion strategy was the landmark acquisition of 100% of Noatum, a global integrated logistics services provider with presence across all major global markets and trade lanes.
“As we forge ahead, aligned with our wise leaders’ vision, our commitment to sustainability, innovation, and global connectivity will continue to be the cornerstones of our journey,” remarked HE Falah Mohammad Al Ahbabi, Chairman, AD Ports Group.
“Our rapid expansion and diverse investments are vital steps towards charting a future where AD Ports Group is synonymous with global presence, innovation and resilience within the global trade and logistics landscape,” stated Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
Clusters’ achievements
Digital
Delivering on AD Ports Group’s transformative agenda over the course of 2023, the Digital Cluster began its transition from a business serving the Group and its Clusters, to a business aimed at leading the charge in UAE’s trade digitalisation.
The milestone year set the tone for the Digital Cluster’s ambitious 5-year plan, which includes transforming the Group’s foundational digital platform and implementing synergies for new acquisitions. Besides setting up its new headquarters and exploring international trade digitalisation opportunities, the Cluster embarked on an inorganic growth path – all the while, strengthening its core digital trade solutions.
“2023 has been an eventful year for the Digital Cluster. Our purpose has been redefined, and we are working together with other Clusters to transform our Group into a leading global trade facilitator. As we march forward on this new journey, we express our heartfelt gratitude to the wise leadership for their support and enablement,” said Dr. Noura Al Dhaheri, Chief Executive Officer, Digital Cluster, and CEO, Maqta Gateway, AD Ports Group.
Economic Cities & Free Zones
In 2023, KEZAD Group, which leads AD Ports Group’s Economic Cities and Free Zone Cluster, engaged in strategic investments and development projects, which significantly impacted various industrial sectors, delivering on AD Ports Group’s growth and expansion agenda.
In the technology and innovation sector, KEZAD began developing a facility for Emtelle under its built-to-suit service, with Emtelle committing AED 184mn on (US$ 50mn) to build one of the world’s largest facilities for fibre optic ducting solutions.
KEZAD also invested AED 55mn in upgrading the infrastructure of Musaffah (ICAD 1) and AED 42mn in landscaping works in KEZAD Al Ma’mourah, furthering sustainable development within the region. Furthermore, KEZAD invested AED 330mn in the primary infrastructure development, which will house major projects of national importance, such as the Abu Dhabi Food Hub and the Global Auto Hub.
“We are setting new benchmarks in industrial excellence, and, as we continue to innovate and invest, the Economic Cities & Free Zones Cluster remains dedicated to enhancing the industrial landscape and ensuring a sustainable, prosperous future for all,” remarked Abdullah Al Hameli, Chief Executive Officer, Economic Cities & Free Zones Cluster, AD Ports Group.
Logistics
2023 has been a major turning point in the development of the Logistics Cluster, which not only effectively navigated the ongoing supply chain disruptions caused by the pandemic and the geopolitical instability, but also successfully transformed itself from a regional to a global player in fully integrated end-to-end logistics. Its leadership has been focused on establishing the Cluster’s presence across all major global markets and trade lanes through a strategy that encompasses organic growth, acquisitions, joint ventures, and partnerships.
“Looking into 2024, we remain focused on delivering market-leading products and services that provide value and earn the trust of our customers to manage their entire supply chains from the point of production to the point of consumption,” said Antonio Campoy, Chief Executive Officer, Noatum, Logistics Cluster, AD Ports Group.
Maritime and shipping
The Maritime & Shipping Cluster has shown in 2023 exceptional growth with strategic vessel acquisitions, which has not only improved connectivity to vital trading markets but also seen the Cluster venture into new business areas including Ro-Ro and liquid bulk.
Another key development was the formation of SAFEEN Drydocks, a joint venture between AD Ports Group and Premier Marine Engineering Services. This venture, based at Khalifa Port, offers comprehensive services including drydocking, afloat repairs, shipbuilding, and refurbishment.
“As we move into 2024, the Cluster is well-positioned to continue its trajectory of success and innovation in the maritime world,” said Captain Ammar Al Shaiba, Chief Executive Officer, Maritime & Shipping Cluster, AD Ports Group.
Ports
2023 was a year of achievements and continued growth for the Ports Cluster with higher contribution to the overall revenue growth and profitability of AD Ports Group.
“With every passing day, we continue to grow and expand, surpassing the bounds of our present achievements and looking at a future far beyond the limits of our imagination,” commented Saif Al Mazrouei, CEO, Ports Cluster, AD Ports Group.
