Reports another year of record revenue and profit
AD Ports Group issued its 2024 Annual Report, which chronicled a year of record revenue and profit growth, as the Group consolidated two major acquisitions, and drove forward its profit-enhancing international expansion.
All of AD Ports Group’s vertically integrated business clusters – Ports, Economic Cities & Free Zones, Maritime & Shipping, Logistics, and Digital – contributed to record 2024 Group revenue of AED 17.29bn, and record Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of AED 4.51bn, up 48% and 69%, respectively, from 2023.
“In a year marked by geopolitical instabilities and evolving global trade routes, AD Ports Group achieved record results, adeptly navigating dynamically changing markets, and seizing new opportunities to advance its value-enhancing international expansion,” said Mohamed Hassan Alsuwaidi, Chairman, AD Ports Group.
Customer-centric
“Through its operational agility, and expanding range of efficient, customer-centric, end-to-end solutions, the Group grew organically and by selectively adding new port terminals, and maritime, digital, and logistics assets, thereby positioned itself for a new phase of value-adding international growth,” commented Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
Highlights included the December inauguration of CMA Terminals Khalifa Port, an AED 3.1bn (US$ 845mn) container terminal collaboration with strategic partner CMA CGM Group, which expanded the port’s capacity by 23%, securing Abu Dhabi’s position at the forefront of global trade, and underscoring the Group’s commitment to the Emirate and UAE.
Strategic direction
The Group is following a focused, inorganic expansion strategy to acquire complementary investments that add value and strengthen the overall AD Ports Group business ecosystem. Inorganic investments primarily involve logistics, maritime, and port assets, to enhance customer relationships, influence trade routes, improve connectivity, expand the logistics footprint, and build on the Group’s Abu Dhabi-based core assets.
Overview
2024 was a positive year for container, bulk, Ro-Ro, tanker, and offshore segments, which benefited AD Ports Group, operator of the world’s third-largest pure independent feeder shipping service, according to industry group Alphaliner.
