AD Ports Annual Report Highlights Strong Revenue and Net Profit Growth in 2021

As the first annual report since AD ​​Ports Group listed on the ADX in February 2022, it highlights a remarkable year for the company, which has seen AD Ports Group achieve strong revenue growth. business and net profit, emerging as a major distributor of COVID-19 vaccines in the United Arab Emirates and a supplier to more than 60 countries around the world.

AD Ports Group has evolved into a vertically integrated business ecosystem that includes economic cities and free zones, ports, logistics, maritime and digital services.

As a strategic gateway to Abu Dhabi, AD Ports Group generated 21% of all non-oil GDP in the emirate, according to Oxford Economics, and the company created more than 212,000 jobs in the UAE.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “2021 has been a transformational year for AD Ports Group as we delivered strong financial results and strengthened our position as a gateway” to the global financial community. to invest in the fastest growing economy in the Gulf.

“Group revenue grew for the 14th consecutive year to reach AED3.9 billion (from AED3.4 billion in 2020), and we managed to leverage synergies between our five business segments to achieve a record net profit of AED 853 million (vs. AED 397 million in 2020) and earnings per share of AED 0.22 (vs. AED 0.10 in 2020).

The annual report details some of the key agreements signed in 2021 that have extended AD Ports Group’s global reach, including its 35-year concession agreement with CMA CGM for a new AED570 million terminal at Khalifa Port, which will will position itself as a global hub for three of the world’s four major shipping companies.

The year also saw the signing of several strategic agreements between AD Ports Group and Aqaba Development Corporation, which are now working closely together to boost the development of tourism, logistics, transport and digital infrastructure in the Jordanian port city.

Other key achievements include a joint venture with Chinese group Shandong Ports to build a 150,000 m2 tire storage and distribution town in KIZAD; an agreement with Australia’s Lepidico’s to build a new lithium battery plant at KIZAD that will boost production of electric cars in the GCC; and a contract with Helios Industry to develop a AED3.67 billion hydrogen production facility to make green ammonia using an 800 MW solar power plant.

In the United Arab Emirates, AD Port Group’s OFCO joint venture has won the subsea wiring business of Abu Dhabi National Oil Company (ADNOC) and the company has signed an agreement to ship five million tonnes of steel every year for Emirates Steel.

Key financial highlights of the year include AD Ports Group’s successful inaugural $1 billion 10-year bond issue, which listed on ADX and London Stock Exchange (LSE), as well as preparing for its successful listing of ADX shares in February 2022, which raised AED 4 billion for organic growth and acquisitions.