Abu Dhabi-based AD Ports Group almost doubled second-quarter net profit despite a 65% plunge in UAE container throughput, as feeder rates on Gulf/Indian Subcontinent services surged 96% year on year and 103% quarter on quarter, according to [AD Ports Group.
Net profit rose 88% to AED 836m ($227.6m), while revenue climbed 47% to AED 7.08bn ($1.93bn) and EBITDA increased 49% to AED 1.74bn ($473.8m). Asset sales added AED 650m ($177m) to revenue and AED 294m ($80.1m) to EBITDA.
Container feeder volumes fell 11% year on year and 15% quarter on quarter to 740,000 TEU. Red Sea rates rose 37% year on year and 56% quarter on quarter. Maritime & Shipping revenue jumped 62% to AED 3.82bn ($1.04bn), with EBITDA up 79% to AED 1.03bn ($280.5m).
The group’s bulk, multipurpose and ro-ro fleet doubled to 72 vessels from 36 a year earlier. UAE container throughput fell to 573,000 TEU, while bulk and general cargo volumes dropped 67% to 3.1m tonnes. Ports revenue declined 17% to AED 609m ($165.8m) and EBITDA fell 23% to AED 234m ($63.7m).
AD Ports deployed 27 containerships and five bulk vessels on alternative shipping corridors, added 400 trucks and used six chartered aircraft. Warehousing and storage capacity exceeded 54,000 square metres.
Managing director and group chief executive Mohamed Juma Al Shamisi said the group had operated through “perhaps the most significant challenge in its 20-year history”.
Free cash flow to the firm was negative AED 1.03bn ($280.5m) after the $300m acquisition of an additional 30% of Global Feeder Shipping, raising AD Ports’ holding to 81%. Excluding the transaction, FCFF was positive AED 73m ($19.9m). Net debt stood at AED 22.73bn ($6.19bn), with net debt-to-EBITDA improving to 3.7x from 3.9x.
AD Ports has also agreed to acquire Brazil’s Corredor Logística e Infraestrutura for $835m, with closing expected at the end of Q3 2026, and Germany-based MBS Logistics for AED 300m ($81.7m), with closing expected in Q4 2026.
AD Ports Group is an Abu Dhabi-based integrated trade, industry and logistics group. Global Feeder Shipping is one of the group’s core strategic assets.