AD Ports Group reported record financial results for the full year 2024, with a 69% year-over-year increase in EBITDA to AED 4.51 billion and a 31% year-over-year rise in total net profit to AED 1.78 billion.
The Group's strong performance was driven by solid organic growth across all five clusters, contributions from acquisitions (primarily Noatum and GFS), a strengthened balance sheet, and improved cash flow generation, according to the company's release. All five clusters achieved double-digit organic revenue growth, with EBITDA growth fueled by the Maritime & Shipping, Ports, and Logistics clusters.
"2024 marked another year of record revenue and earnings with the Group delivering on its primary mission to enable trade," said Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group. "Not only did we deploy an agile, effective business strategy that translated geopolitical uncertainty in some regions into record revenue and profit, but we also leveraged the integration of our recent acquisitions to attain a new level of efficiency, international significance, and to maximise the financial synergies from the consolidation of the acquired entities."
AD Ports Group reported strong financial results for FY 2024, with revenue of AED 17.29 billion (+48% YoY), EBITDA of AED 4.51 billion (+69% YoY), and net profit of AED 1.78 billion (+31% YoY).
AD Ports Group also made significant progress on strategic initiatives in 2024, including acquisitions in Spain, Pakistan, Georgia, Angola, and Egypt, as well as new terminal concessions and expansions.
The company refinanced and upsized its loan facilities, received credit rating upgrades, and continued to invest in core infrastructure.
AD Ports Group's key business developments in 2024 included acquisitions in Spain, Pakistan, Georgia, and Angola, cruise terminal concessions in Egypt, and expansion of Khalifa Port, while 2025 plans include a grain terminal in Kazakhstan, operations at Luanda Port in Angola, and a joint venture with CMA CGM in the Republic of Congo.
AD Ports Group is a leading provider of integrated trade, transport, and logistics solutions in the UAE and beyond.
Noatum is a global logistics provider acquired by AD Ports Group, offering maritime, ports, and logistics services.