Latest news with #AED1.33
Yahoo
30-04-2025
- Business
- Yahoo
Middle Eastern Dividend Stocks To Enhance Your Portfolio
As Gulf bourses experience gains driven by positive corporate earnings and easing tariff concerns, the Middle Eastern stock markets are capturing increased investor interest. In such a dynamic environment, dividend stocks can offer stability and income potential, making them an attractive choice for enhancing a diversified portfolio. Name Dividend Yield Dividend Rating Emaar Properties PJSC (DFM:EMAAR) 7.58% ★★★★★☆ National Bank of Ras Al-Khaimah (P.S.C.) (ADX:RAKBANK) 7.44% ★★★★★☆ Anadolu Hayat Emeklilik Anonim Sirketi (IBSE:ANHYT) 6.97% ★★★★★☆ Arab National Bank (SASE:1080) 6.00% ★★★★★☆ Saudi National Bank (SASE:1180) 5.62% ★★★★★☆ Riyad Bank (SASE:1010) 5.85% ★★★★★☆ Saudi Awwal Bank (SASE:1060) 5.68% ★★★★★☆ Emirates NBD Bank PJSC (DFM:EMIRATESNBD) 4.90% ★★★★★☆ Saudi Telecom (SASE:7010) 8.86% ★★★★★☆ Commercial Bank of Dubai PSC (DFM:CBD) 6.36% ★★★★★☆ Click here to see the full list of 69 stocks from our Top Middle Eastern Dividend Stocks screener. We'll examine a selection from our screener results. Simply Wall St Dividend Rating: ★★★★★☆ Overview: Commercial Bank of Dubai PSC offers commercial and retail banking services in the United Arab Emirates, with a market capitalization of AED23.82 billion. Operations: Commercial Bank of Dubai PSC generates revenue through its Personal Banking segment with AED1.97 billion, Corporate Banking at AED1.33 billion, and Institutional Banking contributing AED1.34 billion. Dividend Yield: 6.4% Commercial Bank of Dubai PSC has demonstrated stable and reliable dividend payments over the past decade, supported by a reasonable payout ratio of 50.1%. Despite a high level of bad loans at 5.1%, its dividends are well covered by earnings and expected to remain sustainable with a forecasted payout ratio of 44.1% in three years. Recent Q1 2025 results showed growth in net income to AED 828.11 million, indicating continued financial strength for dividend support. Dive into the specifics of Commercial Bank of Dubai PSC here with our thorough dividend report. The analysis detailed in our Commercial Bank of Dubai PSC valuation report hints at an inflated share price compared to its estimated value. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Indeks Bilgisayar Sistemleri Mühendislik Sanayi ve Ticaret Anonim Sirketi is a company that distributes IT products in Turkey, with a market cap of TRY5.05 billion. Operations: Indeks Bilgisayar Sistemleri Mühendislik Sanayi ve Ticaret Anonim Sirketi generates revenue from two main segments: Information Technologies and Telecom, which contributes TRY66.63 billion, and Logistics and Rental, which brings in TRY354.14 million. Dividend Yield: 5.2% Indeks Bilgisayar Sistemleri Mühendislik Sanayi ve Ticaret Anonim Sirketi offers a compelling dividend profile, with a payout ratio of 43% ensuring dividends are well covered by earnings. The dividend yield stands at 5.15%, placing it among the top 25% in Turkey. However, profit margins have declined to 0.5% from last year's 1%. Despite only four years of dividend history, payments have been stable and reliably covered by cash flows with a low cash payout ratio of 10.1%. Get an in-depth perspective on Indeks Bilgisayar Sistemleri Mühendislik Sanayi ve Ticaret Anonim Sirketi's performance by reading our dividend report here. In light of our recent valuation report, it seems possible that Indeks Bilgisayar Sistemleri Mühendislik Sanayi ve Ticaret Anonim Sirketi is trading behind its estimated value. Simply Wall St Dividend Rating: ★★★★☆☆ Overview: Yeni Gimat Gayrimenkul Yatirim Ortakligi A.S. operates in the real estate investment sector and has a market capitalization of TRY18.03 billion. Operations: Yeni Gimat Gayrimenkul Yatirim Ortakligi A.S. generates revenue primarily from the Ankamall Shopping Mall with TRY2.04 billion and the CP Ankara Hotel with TRY236.89 million, alongside a smaller contribution from its energy segment at TRY0.37 million. Dividend Yield: 4.1% Yeni Gimat Gayrimenkul Yatirim Ortakligi's dividend profile is supported by a low payout ratio of 36.3%, ensuring dividends are well covered by earnings, while a cash payout ratio of 68% indicates coverage by cash flows. The dividend yield at 4.14% ranks in the top 25% in Turkey, though the company has only a nine-year history of stable payments. Recent announcements include an annual dividend increase to TRY 7 per share amidst reporting a net loss for the previous year. Navigate through the intricacies of Yeni Gimat Gayrimenkul Yatirim Ortakligi with our comprehensive dividend report here. In light of our recent valuation report, it seems possible that Yeni Gimat Gayrimenkul Yatirim Ortakligi is trading beyond its estimated value. Investigate our full lineup of 69 Top Middle Eastern Dividend Stocks right here. Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up. Discover a world of investment opportunities with Simply Wall St's free app and access unparalleled stock analysis across all markets. Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. Find companies with promising cash flow potential yet trading below their fair value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include DFM:CBD IBSE:INDES and IBSE:YGGYO. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Emirates 24/7
18-02-2025
- Business
- Emirates 24/7
DIFC marks 20th anniversary with record annual performance
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA), has announced record financial results for 2024. The milestone coincides with DIFC's 20th anniversary, reinforcing Dubai's position as the region's financial services capital. The centre now houses 6,920 active companies, a 25 percent increase from 5,523 in 2023. DIFC also recorded 1,823 new registrations in 2024, the highest annual figure to date, reflecting historic 25 percent growth. DIFC's total revenue for 2024 reached AED1.78 billion (US$484 million), marking the largest annual increase since the centre's inception and a 37 percent rise from its record-breaking performance in 2023. Operating profit surged to AED1.33 billion ($363 million), up 55 percent. H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and President of DIFC, said, "DIFC's exceptional growth over the past 20 years reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to establish the emirate as the region's leading global financial centre. This success further cements Dubai's position as a world-class hub for financial services." Sheikh Maktoum affirmed that Dubai continues to achieve its ambitious aims of creating an advanced financial ecosystem that meets future requirements. The technology and innovation sector remained the fastest-growing in DIFC, driven by the launch of the Dubai AI Campus. The sector saw a 38 percent year-on-year increase, reaching 1,245 companies in 2024. Job creation from new and existing businesses expanded DIFC's workforce to 46,078, a 10 percent rise. In 2024, DIFC continued to lead the market in attracting new financial firms. Key new financial services registrations included Allfunds, ASK Wealth Advisors, Bank of Communications, Bluecrest, Blue Owl, Capricorn Fund Managers, China Taiping Insurance, CMB International Securities, Dymon Asia Capital, Edmond de Rothschild, Eisler Capital (DIFC) Ltd, Gavekal Wealth, Hamilton Lane, Hayfin, Investec Bank, JJJ Capital, Mahindra Insurance Brokers, Nexus Underwriting Limited, North of South Capital, Nuvama Private, Polen Capital Management, Rokstone Underwriting, State Street Global Advisors, Taula Capital, TCW Investments, Tudor Capital, Wellington Asset Management and Ziraat Bank. Essa Kazim, Governor of DIFC, commented, "Over the last 20 years, DIFC has played a leading role in transforming Dubai and the UAE's economic landscape, in line with the Dubai Economic Agenda, D33. DIFC's Strategy 2030 continues to position us as the region's top global financial centre and one of the world's leading financial hubs. "In line with the Dubai leadership's commitment to build strategic relationships with the international business community, DIFC will continue to forge new partnerships to further strengthen our reputation for driving the future of finance." Arif Amiri, Chief Executive Officer of DIFC Authority, said, "DIFC continues to strengthen its position as the region's leading global financial centre, welcoming organisations and talent that share our vision for shaping the future of finance. "Looking ahead, we will continue working closely with our clients and industry partners, advancing infrastructure, evolving regulations, and fostering innovation to further enhance Dubai's status as the region's top global financial centre." DIFC is home to the region's largest cluster of financial services companies. By the end of 2024, this included more than 260 banking and capital markets firms, 410 wealth and asset management companies—including 75 hedge funds—and 125 insurance and reinsurance firms, making it the region's only global hub for the sector. The ecosystem also includes over 70 brokerage firms. Highlighting the depth of DIFC's financial ecosystem, its client base now includes 27 of the world's 29 global systemically important banks (G-SIBs), eight of the top 10 global asset managers, five of the highest-ranked insurance brokers, and five of the world's 10 largest interdealer brokers by volume. By the end of 2024, the Dubai Financial Services Authority (DFSA), DIFC's independent regulator, supervised or regulated more than 900 entities operating within the centre. Dubai serves as a strategic hub for companies seeking access to the region's 40 sovereign wealth funds and is home to the highest concentration of private wealth in any Middle Eastern city. With significant capital inflows from millionaires, centi-millionaires, billionaires, family offices, and financiers, DIFC continues to experience exponential growth in the wealth and asset management sector. 410 firms have made DIFC their preferred financial hub in the region, reflecting a net increase of 60 firms and a 16 percent year-on-year growth. DIFC's Alternative Investment industry is expanding at a pace faster than the market, now encompassing 75 hedge funds—48 of which are part of the exclusive 'billion-dollar club.' The centre has secured its position among the world's top 10 hedge fund hubs and is on track to enter the top five in the coming years. DIFC announced the launch of a first-of-its-kind Funds Centre in 2024. Set to open in 2025, the facility will provide investment managers with a dedicated space to raise and deploy capital, manage investments, attract talent, and expand their networks. Since 2004, DIFC has played a key role in supporting family businesses to thrive. In 2024, growing trust in the centre led to exceptional expansion, with the number of family-owned businesses increasing from 600 to over 800—a 33 percent rise. By the end of 2024, DIFC reported that the top 120 families and high-net-worth individuals in its ecosystem were managing over $1.2 trillion in wealth. The adoption of Foundation structures saw a significant rise, reaching 671—a 51 percent increase. Emerging technologies and the convergence of AI and FinTech are contributing to the evolution of financial services and other future-focused industries. In 2024, DIFC introduced two signature initiatives under the Dubai Universal Blueprint for Artificial Intelligence. The Dubai AI Campus has already become the region's largest dedicated cluster of AI and Web3 companies. Following the success of the DIFC Innovation licence, the introduction of the Dubai AI licence captured the attention of the international tech community. More than 120 companies secured the new licence and joined the Campus in the initial six months of operations, substantially exceeding the first-year target of 75 firms. The first Dubai AI and Web3 Festival took place in October and attracted 6,800 delegates. As a testament to its success, the Festival will become the largest initiative to be included in the inaugural Dubai AI Week in 2025. The Dubai FinTech Summit, organised by DIFC, returned for its second edition in 2024, further cementing the city's status as a global hub for technology and innovation. Reflecting the sector's strong momentum, the Summit attracted over 8,000 delegates from 100 countries. As a key initiative under the Dubai Digital Economy Strategy, DIFC launched Ignyte, a platform designed to accelerate the growth of over 100,000 start-ups and entrepreneurs on a global scale. To provide more certainty to the market, DIFC enacted the world's first Digital Assets Law, to cater to the increasing numbers of companies and individuals using digital currencies. The Global Financial Centre Index continues to rank Dubai as the region's leading financial centre. The emirate is the only city in the Middle East, Africa and South Asia to be included in the top fifteen positions across multiple categories. Globally, Dubai has risen to sixth for FinTech, 11th for professional services, 12th for reputation, 13th for finance and 14th for infrastructure. DIFC's Decarbonisation Strategy has set new standards for environmental leadership. The centre has committed to achieve its Net Zero targets by 2045, five years ahead of the UAE's target, by reducing emissions in areas it directly controls relating to its operations, construction activities and supply chains. The Strategy will achieve 'true' Net Zero, without offsetting or trading carbon emissions. Commercial real estate occupancy remains high across the district, with DIFC-owned and managed properties operating at 99.8 percent occupancy. To meet growing demand, the centre will introduce more than 1.6 million sq. ft. of commercial space with the launches of DIFC Square, Innovation Two, and Immersive Tower by DIFC. Beyond finance, the centre is also a key cultural hub in the UAE, boasting a resplendent line-up of fine dining restaurants, retailers, and art galleries. Cultural experiences such as DIFC Art Nights and the Sculpture Park create a haven for artists and art enthusiasts. Additionally, Art Dubai, a DIFC investment, continues to be most significant global art gathering in the Middle East. For over 20 years, DIFC has attracted talent from around the world. The AI, FinTech, and Innovation workforce has grown to 4,243, a 43 percent increase from the previous year, reflecting the rising calibre of professionals entering the ecosystem. DIFC also stands out for its gender diversity, with 37 percent of its workforce being female, a ratio that surpasses many leading financial centres globally. Supporting talent through personal and professional development remains a key priority for DIFC. In 2024, 9,156 people graduated from DIFC Academy programmes, bringing the total to 41,456 learners since inception. Aligned with DIFC's commitment to educating 1 million people on sustainability, the Academy now offers 30 programmes focused on the subject. Reflecting the strong presence of professional services firms, including law firms, participation in DIFC legal programmes rose by 39 percent in 2024, bringing the total number of graduates to 321 since 2019. Follow Emirates 24|7 on Google News.
Zawya
18-02-2025
- Business
- Zawya
UAE: DIFC marks 20th anniversary with record annual performance
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA), has announced record financial results for 2024. The milestone coincides with DIFC's 20th anniversary, reinforcing Dubai's position as the region's financial services capital. The centre now houses 6,920 active companies, a 25 percent increase from 5,523 in 2023. DIFC also recorded 1,823 new registrations in 2024, the highest annual figure to date, reflecting historic 25 percent growth. DIFC's total revenue for 2024 reached AED1.78 billion (US$484 million), marking the largest annual increase since the centre's inception and a 37 percent rise from its record-breaking performance in 2023. Operating profit surged to AED1.33 billion ($363 million), up 55 percent. H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and President of DIFC, said, "DIFC's exceptional growth over the past 20 years reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to establish the emirate as the region's leading global financial centre. This success further cements Dubai's position as a world-class hub for financial services." Sheikh Maktoum affirmed that Dubai continues to achieve its ambitious aims of creating an advanced financial ecosystem that meets future requirements. The technology and innovation sector remained the fastest-growing in DIFC, driven by the launch of the Dubai AI Campus. The sector saw a 38 percent year-on-year increase, reaching 1,245 companies in 2024. Job creation from new and existing businesses expanded DIFC's workforce to 46,078, a 10 percent rise. In 2024, DIFC continued to lead the market in attracting new financial firms. Key new financial services registrations included Allfunds, ASK Wealth Advisors, Bank of Communications, Bluecrest, Blue Owl, Capricorn Fund Managers, China Taiping Insurance, CMB International Securities, Dymon Asia Capital, Edmond de Rothschild, Eisler Capital (DIFC) Ltd, Gavekal Wealth, Hamilton Lane, Hayfin, Investec Bank, JJJ Capital, Mahindra Insurance Brokers, Nexus Underwriting Limited, North of South Capital, Nuvama Private, Polen Capital Management, Rokstone Underwriting, State Street Global Advisors, Taula Capital, TCW Investments, Tudor Capital, Wellington Asset Management and Ziraat Bank. Essa Kazim, Governor of DIFC, commented, "Over the last 20 years, DIFC has played a leading role in transforming Dubai and the UAE's economic landscape, in line with the Dubai Economic Agenda, D33. DIFC's Strategy 2030 continues to position us as the region's top global financial centre and one of the world's leading financial hubs. "In line with the Dubai leadership's commitment to build strategic relationships with the international business community, DIFC will continue to forge new partnerships to further strengthen our reputation for driving the future of finance." Arif Amiri, Chief Executive Officer of DIFC Authority, said, "DIFC continues to strengthen its position as the region's leading global financial centre, welcoming organisations and talent that share our vision for shaping the future of finance. "Looking ahead, we will continue working closely with our clients and industry partners, advancing infrastructure, evolving regulations, and fostering innovation to further enhance Dubai's status as the region's top global financial centre." DIFC is home to the region's largest cluster of financial services companies. By the end of 2024, this included more than 260 banking and capital markets firms, 410 wealth and asset management companies—including 75 hedge funds—and 125 insurance and reinsurance firms, making it the region's only global hub for the sector. The ecosystem also includes over 70 brokerage firms. Highlighting the depth of DIFC's financial ecosystem, its client base now includes 27 of the world's 29 global systemically important banks (G-SIBs), eight of the top 10 global asset managers, five of the highest-ranked insurance brokers, and five of the world's 10 largest interdealer brokers by volume. By the end of 2024, the Dubai Financial Services Authority (DFSA), DIFC's independent regulator, supervised or regulated more than 900 entities operating within the centre. Dubai serves as a strategic hub for companies seeking access to the region's 40 sovereign wealth funds and is home to the highest concentration of private wealth in any Middle Eastern city. With significant capital inflows from millionaires, centi-millionaires, billionaires, family offices, and financiers, DIFC continues to experience exponential growth in the wealth and asset management sector. 410 firms have made DIFC their preferred financial hub in the region, reflecting a net increase of 60 firms and a 16 percent year-on-year growth. DIFC's Alternative Investment industry is expanding at a pace faster than the market, now encompassing 75 hedge funds—48 of which are part of the exclusive 'billion-dollar club.' The centre has secured its position among the world's top 10 hedge fund hubs and is on track to enter the top five in the coming years. DIFC announced the launch of a first-of-its-kind Funds Centre in 2024. Set to open in 2025, the facility will provide investment managers with a dedicated space to raise and deploy capital, manage investments, attract talent, and expand their networks. Since 2004, DIFC has played a key role in supporting family businesses to thrive. In 2024, growing trust in the centre led to exceptional expansion, with the number of family-owned businesses increasing from 600 to over 800—a 33 percent rise. By the end of 2024, DIFC reported that the top 120 families and high-net-worth individuals in its ecosystem were managing over $1.2 trillion in wealth. The adoption of Foundation structures saw a significant rise, reaching 671—a 51 percent increase. Emerging technologies and the convergence of AI and FinTech are contributing to the evolution of financial services and other future-focused industries. In 2024, DIFC introduced two signature initiatives under the Dubai Universal Blueprint for Artificial Intelligence. The Dubai AI Campus has already become the region's largest dedicated cluster of AI and Web3 companies. Following the success of the DIFC Innovation licence, the introduction of the Dubai AI licence captured the attention of the international tech community. More than 120 companies secured the new licence and joined the Campus in the initial six months of operations, substantially exceeding the first-year target of 75 firms. The first Dubai AI and Web3 Festival took place in October and attracted 6,800 delegates. As a testament to its success, the Festival will become the largest initiative to be included in the inaugural Dubai AI Week in 2025. The Dubai FinTech Summit, organised by DIFC, returned for its second edition in 2024, further cementing the city's status as a global hub for technology and innovation. Reflecting the sector's strong momentum, the Summit attracted over 8,000 delegates from 100 countries. As a key initiative under the Dubai Digital Economy Strategy, DIFC launched Ignyte, a platform designed to accelerate the growth of over 100,000 start-ups and entrepreneurs on a global scale. To provide more certainty to the market, DIFC enacted the world's first Digital Assets Law, to cater to the increasing numbers of companies and individuals using digital currencies. The Global Financial Centre Index continues to rank Dubai as the region's leading financial centre. The emirate is the only city in the Middle East, Africa and South Asia to be included in the top fifteen positions across multiple categories. Globally, Dubai has risen to sixth for FinTech, 11th for professional services, 12th for reputation, 13th for finance and 14th for infrastructure. DIFC's Decarbonisation Strategy has set new standards for environmental leadership. The centre has committed to achieve its Net Zero targets by 2045, five years ahead of the UAE's target, by reducing emissions in areas it directly controls relating to its operations, construction activities and supply chains. The Strategy will achieve 'true' Net Zero, without offsetting or trading carbon emissions. Commercial real estate occupancy remains high across the district, with DIFC-owned and managed properties operating at 99.8 percent occupancy. To meet growing demand, the centre will introduce more than 1.6 million sq. ft. of commercial space with the launches of DIFC Square, Innovation Two, and Immersive Tower by DIFC. Beyond finance, the centre is also a key cultural hub in the UAE, boasting a resplendent line-up of fine dining restaurants, retailers, and art galleries. Cultural experiences such as DIFC Art Nights and the Sculpture Park create a haven for artists and art enthusiasts. Additionally, Art Dubai, a DIFC investment, continues to be most significant global art gathering in the Middle East. For over 20 years, DIFC has attracted talent from around the world. The AI, FinTech, and Innovation workforce has grown to 4,243, a 43 percent increase from the previous year, reflecting the rising calibre of professionals entering the ecosystem. DIFC also stands out for its gender diversity, with 37 percent of its workforce being female, a ratio that surpasses many leading financial centres globally. Supporting talent through personal and professional development remains a key priority for DIFC. In 2024, 9,156 people graduated from DIFC Academy programmes, bringing the total to 41,456 learners since inception. Aligned with DIFC's commitment to educating 1 million people on sustainability, the Academy now offers 30 programmes focused on the subject. Reflecting the strong presence of professional services firms, including law firms, participation in DIFC legal programmes rose by 39 percent in 2024, bringing the total number of graduates to 321 since 2019.
Trade Arabia
16-02-2025
- Business
- Trade Arabia
AD Ports Group net profit up 31% to $484.6m
AD Ports Group, an enabler of integrated trade, transport and logistics solutions, said its profit before tax and minorities grew 45% YoY to AED2.04 billion ($555.4 million) in 2024, whereas group total net profit increased 31% YoY to AED1.78 billion ($484.62 million), implying a net profit margin of 10.3%. Revenue increased 48% YoY to AED17.29 billion fuelled by M&A contribution with healthy double-digit organic growth across the group's five business clusters ecosystem. AD Ports Group's bottom-line performance was strong despite the introduction of corporate income tax of 9% in the UAE in 2024, the group said. The year was characterised by solid organic growth operationally and financially, fuelled by inorganic growth primarily coming from Noatum and GFS, a strengthened balance sheet with lower leverage and a stronger liquidity position, and significantly improved cash flow generation with the group reaching positive Free Cash Flow to the Firm (FCFF) two quarters in a row in Q3 and Q4 2024, it said. Financial performance highlights for FY 2024 * EBITDA recorded an impressive 69% YoY growth to AED4.51 billion, implying an EBITDA margin of 26.1% (vs. 22.8% in 2023, +320 bps YoY). Strong operating performance was driven by the Maritime & Shipping, Ports, and Logistics Clusters. * Net profit attributable to owners grew 24% YoY to AED1.33 billion led by strong operating performance. * Balance Sheet: Total assets grew by 15% YoY to AED63.70 billion in 2024 while total equity increased 15% YoY to AED27.83 billion. Significant growth in operating profits together with plateauing debt levels led to a 110bps reduction in Net Debt/EBITDA ratio to 3.3x as of December 2024, down from 4.4x in 2023. AD Ports Group strengthened its liquidity position with a cash & equivalents balance of AED2.83 billion at end of 2024 driven by earnings growth and an additional liquidity booster through the refinancing and upsizing of its bank facilities. * Capital Expenditures: The group's organic Capital Expenditures (CapEx) declined for the third consecutive year, reaching AED4.1 billion in 2024, AED605 million or 13% lower than in 2023. * Cash Flow Statement: AD Ports Group was Free Cash Flow positive on a quarterly basis for the second time in a row in Q4 2024 on the back of strong EBITDA growth, high cash conversion and lower capital spending. Annual Cash Flow from Operations grew almost three-fold to AED3.91 billion in 2024, vs. AED1.47 billion in 2023. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, said: '2024 marked another year of record revenue and earnings with the Group delivering on its primary mission to enable trade. 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. "Our Group, in line with the vision of our wise leadership, grew more global and became more cohesive and profitable as we expanded our reach to more than 50 countries on five continents, while continued making large investments in our core infrastructure in Abu Dhabi, positioning it at the forefront of global trade and advancing the UAE's economic diversification and the growth of a green, sustainable economy. AD Ports Group enters 2025 with strong momentum, despite ongoing regional macroeconomic and geopolitical disruptions, as we continue our expansion and extract further value from the synergies of our group.' -
Zawya
14-02-2025
- Business
- Zawya
AD Ports Group reports net profit of $485mln in 2024
ABU DHABI - AD Ports Group today announced its preliminary unaudited financial results for the fourth quarter and full year ending 31st December 2024. The year was characterised by solid organic growth operationally and financially, fuelled by inorganic growth primarily coming from Noatum and GFS, a strengthened balance sheet with lower leverage and a stronger liquidity position, and significantly improved cash flow generation with the Group reaching positive Free Cash Flow to the Firm (FCFF) two quarters in a row in Q3 and Q4 2024. Revenue increased 48% YoY to AED17.29 billion fuelled by M&A contribution with healthy double-digit organic growth across the Group's five business clusters ecosystem. EBITDA recorded an impressive 69% YoY growth to AED4.51 billion, implying an EBITDA margin of 26.1% (vs. 22.8% in 2023, +320 bps YoY). Strong operating performance was driven by the Maritime & Shipping, Ports, and Logistics Clusters. Profit Before Tax and Minorities grew 45% YoY to AED2.04 billion in 2024, whereas Group Total Net Profit increased 31% YoY to AED1.78 billion, implying a Net Profit margin of 10.3%. AD Ports Group's bottom-line performance was strong despite the introduction of corporate income tax of 9% in the UAE in 2024. Net Profit Attributable to Owners grew 24% YoY to AED1.33 billion led by strong operating performance. Total Assets grew by 15% YoY to AED63.70 billion in 2024 while Total Equity increased 15% YoY to AED27.83 billion. Significant growth in operating profits together with plateauing debt levels led to a 110bps reduction in Net Debt/EBITDA ratio to 3.3x as of December 2024, down from 4.4x in 2023. AD Ports Group strengthened its liquidity position with a cash & equivalents balance of AED2.83 billion at end of 2024 driven by earnings growth and an additional liquidity booster through the refinancing and upsizing of its bank facilities. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, said, '2024 marked another year of record revenue and earnings with the Group delivering on its primary mission to enable trade. 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. Our Group, in line with the vision of our wise leadership, grew more global and became more cohesive and profitable as we expanded our reach to more than 50 countries on five continents, while continued making large investments in our core infrastructure in Abu Dhabi, positioning it at the forefront of global trade and advancing the UAE's economic diversification and the growth of a green, sustainable economy.'
