Industry, Logistics & Shipping

AD Ports Group revenue soars 41% to $1.5bn in 2022

AD Ports Group, the exclusive developer and regulator of ports in Abu Dhabi, reported strong operational and record financial performance in 2022, with revenue growth of 41% year-on-year to AED5.5 billion ($1.5 billion).

The Group expanded its global footprint and service offering, in addition to launching new trade routes aiming to enhance global trade connectivity, while also signing seven M&A transactions in 2022 totalling AED5.9 billion.

AD Ports Group’s vertically integrated business model, including Economic Cities & Free Zones, Ports, Maritime, Logistics and Digital Clusters has enabled the Group to contribute 13% of UAE’s non-oil GDP and 24% of Abu Dhabi’s non-oil GDP in 2022, according to Oxford Economics. The Group has also empowered over 373,000 jobs in the UAE.

Falah Al Ahbabi, Chairman of AD Ports Group, said: “AD Ports Group has solidified its position as a leading international trade facilitator and a fully integrated provider of global trade logistics and transport solutions, thanks to its remarkable year of strategic, geographic, and financial growth. The Group's unwavering determination, foresight, and commitment have led to outstanding financial and operational results that have bolstered the confidence of new shareholders in our performance.”

Al Ahbabi continued: “Looking ahead, the Group is now in an exceptionally robust position and well-equipped to expand globally, with plans to achieve remarkable growth across its businesses. In line with the socio-economic objectives set by the UAE's visionary leaders, the Group is committed to maximising its contributions to national economic development, job creation, and its place on the international stage as well as to maximising value creation for its shareholders.”

Capt Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “The year 2022 marked a significant turning point for AD Ports Group as we delivered exceptional financial results and strengthened our position as a leading integrated supply chain solutions provider and gateway to Abu Dhabi and the region's thriving economies. This outstanding performance during a time of unprecedented global uncertainty is a testament to the UAE's wise and visionary leadership.”

“Moving forward into 2023, we plan to leverage the momentum of our accomplishments in 2022 to deliver continued value to our shareholders. Our strategic focus will be on expanding our global reach and enhancing our operations in vital shipping, logistics, and ports sectors. With cutting-edge infrastructure and advanced fleets, we are well-positioned for dynamic growth, both regionally and internationally. Our goal is to further enhance our services portfolio and deliver exceptional customer experiences worldwide,” he added.

AD Ports Group annual report details some of the major achievements, as well as acquisitions and agreements signed in 2022, that have extended AD Ports Group’s global reach.

After one year listed on ADX, AD Ports Group’s shares yielded over 80% returns for its shareholders and is among the top three performing stocks in the region over the same 12-month period. The Group has also made impressive strides in expanding its global footprint, with notable acquisitions such as the 70% stake in Egypt's Transmar and TCI, the 80% stake in Global Feeder Shipping (GFS), and the 100% acquisition of Noatum.

Furthermore, AD Ports Group fortified its position as a dominant player in the global economic landscape by launching the KEZAD Group. Comprising 12 economic zones, spanning across a vast area of 550 square kilometres, KEZAD has transformed into one of the largest economic zones in the world.

Khalifa Port achieved a major feat in its ten-year expansion journey, extending its area from 2.43 square kilometres to 8.63 square kilometres and increasing its quay wall from 2.3 km to 12.5 km. As a result, Khalifa Port is now one of the world's most advanced deep-water ports.

AD Ports Group also expanded its global presence by signing contracts with the Red Sea Ports Authority for port projects in Egypt and partnered with SEG to establish logistics and freight businesses in Central Asia.

Key financial highlights of the year included a net profit of AED1.3 billion in 2022, up 51% year-on-year, and earnings per share (EPS) of AED0.25 for the full year in 2022, up from AED0.22 in 2021. – TradeArabia News Service