AD Ports Group registers record Dhs17.29b in revenue for 2024

AD Ports Group achieved record-breaking results in 2024, with revenues reaching Dhs17.29 billion and EBITDA (earnings before interest, taxes, depreciation and amortisation), reaching Dhs4.51 billion, marking growth of 48 and 69 per cent 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.

Last week, AD Ports Group announced the signing of a 50-year agreement with Oylz Terminals, a UAE-based oil supply and distribution provider, to develop a world-class clean petroleum storage facility in Khalifa Port.

The agreement will see Olyz Terminals develop a state-of-the-art 600,000 cbm tank storage facility at Khalifa Port Logistics Hub in two phases, further enhancing the port’s capabilities and reinforcing its position as a key energy storage and trading hub in the region.

The first phase of the facility is expected to commence operations in mid-2027.

A day earlier, AD Ports Group and Columbia Group, a leading global integrated maritime, logistics, leisure and energy platform, have formed a joint venture (JV) to optimise third party vessel operations, and that of AD Ports Group’s state-of-the-art fleet management systems.

The newly formed entity, Noatum — CSM Limited, combines Columbia Group’s expertise in advanced fleet management systems and AI-driven performance analytics, with AD Ports Group’s diverse fleet and extensive ship management experience, both globally and regionally.

Also, by integrating ship management into AD Ports Group’s Maritime and Shipping Cluster service portfolio, this strategic alliance offers the benefits of a world-class ship management system and team to third parties.

The JV will benefit from immediate access to Columbia Group’s Performance Optimisation Control Room (POCR), an advanced digital platform designed to catalyse fleet performance enhancement, predictive maintenance, and regulatory compliance. This platform provides continuous live monitoring and comprehensive decision support tools to optimise voyages, speed, bunker usage, and emissions.

WAM