Latest news with #AED4.51
Trade Arabia
02-04-2025
- Business
- Trade Arabia
AD Ports Group records $4.7bn in revenue for 2024
AD Ports Group has achieved record-breaking results in 2024, with its revenues soaring to hit AED17.3 billion ($4.7 billion) and its ebitda (earnings before interest, taxes, depreciation and amortisation), reaching AED4.51 billion ($1.2 billion), thus marking a growth of 48% and 69% respectively when compared to 2023. The Group's 2024 Annual Report highlighted a year of exceptional performance, during which it successfully integrated two major acquisitions and accelerated its international expansion strategy, boosting profitability. The report shed light on AD Ports Group's continued expansion, including the integration of Noatum, a global logistics leader, and Global Feeder Shipping (GFS), a Dubai-based regional container shipping company. Additionally, the Emirati group secured multi-purpose terminal concessions and intermodal logistics facilities in some of the world's fastest-growing trade corridors, including Egypt, Pakistan, Angola, Tanzania, and Georgia. All of the Group's business segments - Ports, Economic Cities and Free Zones, Maritime and Shipping, Logistics, and Digital - contributed to the record-breaking revenue. Mohamed Hassan Alsuwaidi, Minister of Investment and Chairman of AD Ports Group, said the Group achieved exceptional results, navigating challenges skillfully while leveraging opportunities to drive its comprehensive international expansion strategy. AD Ports Group emerged as a key global player in 2024, achieving new levels of geographic reach, international recognition, and financial strength, all driven by the vision of the UAE's wise leadership, he stated. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said that 2024 was defined by success, as the Group pursued its mission to enable trade and support national leadership's vision. "Through a flexible business strategy and expanding customer-centric solutions, AD Ports Group achieved organic growth and expanded internationally by adding new port terminals and maritime, digital, and logistics assets — opening new horizons for value-driven global expansion," he added. The Group broadened its global footprint in 2024 through strategic acquisitions in Africa, Europe, and Central Asia, while enhancing its global network of ports and terminals through new concessions in Egypt, Pakistan, and Angola. Its international operations were restructured under three new core brands: Noatum Ports, Noatum Maritime, and Noatum Logistics. Highlighting the Group's growing global stature, Khalifa Port was ranked 19th among the world's top 20 container ports for the first time, according to Drewry Maritime Research. The Group also received multiple international awards, recognising its financial strength, investment performance, investor relations, ESG programmes, workplace environment, and more. AD Ports Group follows a targeted inorganic expansion strategy, acquiring logistics, maritime, and port assets that enhance its integrated business model, boost customer value, expand trade routes and logistics coverage, and reinforce connectivity — all anchored in Abu Dhabi's core assets.
Zawya
02-04-2025
- Business
- Zawya
AD Ports Group records $4.7bln in revenue for 2024
AD Ports Group achieved record-breaking results in 2024, with revenues reaching AED17.29 billion and EBITDA (earnings before interest, taxes, depreciation and amortisation), reaching AED4.51 billion, marking growth of 48 and 69 percent respectively compared to 2023. The Group's 2024 Annual Report highlighted a year of exceptional performance, during which it successfully integrated two major acquisitions and accelerated its international expansion strategy, boosting profitability. The report shed light on AD Ports Group's continued expansion, including the integration of Noatum, a global logistics leader, and Global Feeder Shipping (GFS), a Dubai-based regional container shipping company. Additionally, the Group secured multi-purpose terminal concessions and intermodal logistics facilities in some of the world's fastest-growing trade corridors, including Egypt, Pakistan, Angola, Tanzania, and Georgia. All of the Group's business segments — Ports, Economic Cities and Free Zones, Maritime and Shipping, Logistics, and Digital — contributed to the record-breaking revenue. Mohamed Hassan Alsuwaidi, Minister of Investment and Chairman of AD Ports Group, stated that the Group achieved exceptional results, navigating challenges skillfully while leveraging opportunities to drive its comprehensive international expansion strategy. He added that AD Ports Group emerged as a key global player in 2024, achieving new levels of geographic reach, international recognition, and financial strength, all driven by the vision of the UAE's wise leadership. Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said that 2024 was defined by success, as the Group pursued its mission to enable trade and support national leadership's vision. Through a flexible business strategy and expanding customer-centric solutions, AD Ports Group achieved organic growth and expanded internationally by adding new port terminals and maritime, digital, and logistics assets — opening new horizons for value-driven global expansion. The Group broadened its global footprint in 2024 through strategic acquisitions in Africa, Europe, and Central Asia, while enhancing its global network of ports and terminals through new concessions in Egypt, Pakistan, and Angola. Its international operations were restructured under three new core brands: Noatum Ports, Noatum Maritime, and Noatum Logistics. Highlighting the Group's growing global stature, Khalifa Port was ranked 19th among the world's top 20 container ports for the first time, according to Drewry Maritime Research. The Group also received multiple international awards, recognising its financial strength, investment performance, investor relations, ESG programmes, workplace environment, and more. AD Ports Group follows a targeted inorganic expansion strategy, acquiring logistics, maritime, and port assets that enhance its integrated business model, boost customer value, expand trade routes and logistics coverage, and reinforce connectivity — all anchored in Abu Dhabi's core assets. The Group's growth in 2024 was not limited to international expansion but also became more profitable, thanks to synergies across its five business segments.
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.'
