General cargo volumes hit record highs of 45 million metric tons in 2021.
AD Ports Group released its audited 2021 financial results for the 12 months ended December 31, 2021 on Thursday, following the announcement of its preliminary financial results in February 2022.
The group recorded revenue growth of 14% year-on-year to reach MAD 3.9 billion in 2021, compared to MAD 3.4 billion in 2020, driven by volume growth, business diversification and new partnerships.
Earnings before interest, taxes, depreciation and amortization (Ebitda) increased to Dhs 1.6 billion in 2021 from Dhs 1.5 billion in 2020.
Net profit reached 853 million Dhs in 2021, compared to 397 million Dhs in 2020.
As of December 31, 2021, the group’s total assets amounted to MAD 28.1 billion, while shareholders’ equity increased to MAD 10.7 billion.
General cargo volumes reached record highs of 45 million metric tons in 2021, compared to 30 million metric tons in 2020, while economic cities and free zones leased 3.0 million m² of land during the the period, reflecting the broader economic recovery from the impact of the COVID -19 pandemic.
Container throughput increased to 3.4 million TEUs (twenty-foot equivalent units) in 2021 from 3.2 million TEUs in 2020, despite continued supply chain constraints facing the global market shipping and containers.
In January 2022, ADQ transferred ownership of two listed companies to AD Ports Group, including a 22.32% stake in logistics company Aramex (Aramex) and a 10% stake in the Emirates-based contractor United Arab National Marine Dredging Company (NMDC). The combined market value of these holdings was approximately Dhs 2.5 billion at the time of the transfer.
In February 2022, AD Ports Group announced that it had acquired Divetech Marine Engineering Services, a UAE-based subsea surface solutions provider. In addition, in February 2022, the Group raised equity of MAD 4.0 billion through a pre-listing primary issue.
AD Ports Group’s A+ credit rating was reaffirmed by S&P and Fitch after listing.
The shares of the Group began trading on the primary market of the Abu Dhabi Stock Exchange (ADX) on February 8, 2022, under the symbol “ADPORTS”.
Established in 2006, AD Ports Group is today the region’s premier facilitator of logistics, industry and trade, as well as a bridge connecting Abu Dhabi to the world. Listed on the Abu Dhabi Stock Exchange, AD Ports Group’s vertically integrated business approach has proven instrumental in the emirate’s economic development over the past decade.
Operating multiple clusters spanning ports, economic cities and free zones, maritime, logistics and digital, AD Ports Group’s portfolio includes 10 ports and terminals, and over 550 square kilometers of economic zones within Kizad and ZonesCorp, the largest integrated trading, logistics, and industrial cluster in the Middle East.
AD Ports Group is rated A+ by S&P and A+’ Affirmed – Outlook Stable by Fitch.
Abu Dhabi Ports Group, the operator of ports, industrial towns and free zones in Abu Dhabi announced earlier that it has partnered with Metal Park Investment to establish an integrated metal hub in Kizad.
The 450,000 square meter facility will cater to all industry verticals and provide flexibility of scale for metal suppliers, processors and fabricators in the Emirates.
“Kizad Metal Park will create an ecosystem that will help metal service providers grow their business and adapt quickly and effectively to market trends and conditions, so they can plan for the future without constraints,” said said Abdullah Al Hameli, head of economic and free cities. zone cluster to the AD port group.
“The metallurgical industry provides crucial commodities for the development of buildings, automobiles, household appliances and tool manufacturing, making it an essential sector for the continued growth and prosperity of the UAE,” said said Mr. Al Hameli.