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  • AD Ports Group revenue up 22% to USD 760 million in September 2021
  • 2021 November 15 17:26

    AD Ports Group revenue up 22% to USD 760 million in September 2021

    AD Ports Group has announced its financial results for the nine months ended September 30, 2021, reporting revenue growth of 22% year-on-year to AED 2.791 billion (USD 760 million) compared with AED 2.295 billion (USD 625 million) in the same period last year, driven by volume growth, business diversification and new partnerships, according to the company's release.

    EBITDA rose 7% year-on-year to AED 1.161 billion (USD 316 million) during this period, up from AED 1.081 billion (USD 295 million) during the same period in 2020, with growth across most of the business clusters.

    General cargo volumes rose to 37 million metric tonnes in year-to-date September 2021, up from 22 million metric tonnes in the same period in 2020 while industrial zones leased about 2.7 million sq. metres of land in this period, reflecting the wider global recovery from the impact of the COVID-19 pandemic, although some supply chain issues remain.

    Container throughput grew to 2.47 million TEUs (twenty-foot equivalent units) in the first nine months of 2021, up from 2.42 million TEUs in the same period in 2020, despite the ongoing supply constraints faced in the global shipping and container market.

    Operational highlights from the period included the signing of a concession agreement with CMA CGM Group in July 2021 to establish a new terminal in Khalifa Port. AD Ports Group also signed a Heads of Terms agreement with Aqaba Development Corporation to build and operate a new cruise terminal at the Port of Aqaba, Jordan, the first of its kind in the country and AD Ports Group’s first cruise facility outside the UAE. In addition, the Group signed a preliminary agreement with the General Company for Ports of Iraq (GCPI), to explore potential opportunities in the transportation and maritime sectors.


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