ABU DHABI : AD Ports Group has achieved revenue growth of 14% year-on-year in 2021, reaching US$1.1 billion, which was mainly driven by volume growth, business diversification and new partnerships.
During the same period, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA), on a reported basis, rose to US$434 million compared to US$422 million in 2020, while its net profit reached US$230 million, over US$108 million during the previous year.
The total assets of the AD Ports stood at US$7.8 billion, while the equity increased to US$2.9 billion, according to the group’s data.
Furthermore, container throughput grew to 3.4 million TEU in 2021, increasing by 200,000 TEU from 2020.
“These excellent results demonstrate that AD Ports Group has consolidated our leadership position during a period where global trade and supply chains have experienced many challenges,” commented Falah Mohammed Al Ahbabi, chairman of AD Ports Group.
At the same time, general cargo volumes rose to the highest recorded annual levels achieved by the group, 45 million metric tonnes.
In January 2022, the group acquired stakes in two listed companies, including a 22.32% stake in logistics firm Aramex PJSC (Aramex) and a 10% stake in UAE-based contractor National Marine Dredging Company PJSC (NMDC). Additionally, in February 2022, the Group raised equity of US$1.1 billion through a pre-listing primary issuance.
Captain Mohamed Juma Al Shamsi, AD Ports Group CEO, stated, “We believe that the group is well-positioned to accelerate its local and international expansion plans in 2022 and beyond with transformational impact across a broad range of industries.”