AD Ports launches trade routes to improve global trade connectivity
- Last updated: March 28, 2023 | 16:13
AD Ports Group on Tuesday released its 2022 Integrated Annual Report with the Abu Dhabi Securities Exchange (ADX), following a successful year that included a listing on the ADX which was heavily oversubscribed.
AD Ports Group continued to expand its global presence and service offerings, as well as launching new trade routes to improve global trade connectivity.
The Group reported strong operational and financial performance, with a revenue growth of 41 per cent year-on-year, reaching Dhs5.5 billion.
Additionally, as part of its ambitious growth strategy, the Group completed seven MandA transactions in 2022 with a total value of Dhs5.9 billion.
The vertically integrated business model of AD Ports Group, which includes Economic Cities and Free Zones, Ports, Maritime, Logistics, and Digital Clusters, has enabled the Group to contribute significantly to the non-oil GDP of the UAE and Abu Dhabi. According to Oxford Economics, the Group contributed 13 per cent of the UAE’s non-oil GDP and 24 per cent of Abu Dhabi’s non-oil GDP in 2022, and has created over 373,000 jobs in the UAE.
Falah Al Ahbabi, the Chairman of AD Ports Group, commented, “The AD Ports Group has firmly established itself as a leading international trade facilitator and a fully integrated provider of global trade logistics and transport solutions, due to its exceptional year of strategic, geographical, and financial expansion.”
Al Ahbabi added, “Moving forward, the Group is in an exceptionally strong position and well-prepared to expand its business globally, with plans to achieve substantial growth across all its divisions.”
“As part of the UAE’s visionary leaders’ socio-economic objectives, the Group is committed to maximising its contributions to national economic development, job creation, and its standing on the international stage, while also creating value for its shareholders.”
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, “The year 2022 marked a significant turning point for AD Ports Group as we delivered exceptional financial results and strengthened our position as a leading integrated supply chain solutions provider and gateway to Abu Dhabi and the region’s thriving economies. This outstanding performance during a time of unprecedented global uncertainty is a testament to the UAE’s wise and visionary leadership.” Al Shamisi added, “Moving forward into 2023, we plan to leverage the momentum of our accomplishments in 2022 to deliver continued value to our shareholders. Our strategic focus will be on expanding our global reach and enhancing our operations in vital shipping, logistics, and ports sectors.”
The AD Ports Group annual report highlights several significant accomplishments, acquisitions, and agreements made in 2022 that have extended the Group’s global reach.
Additionally, the Group’s shares have yielded over 80 per cent returns for shareholders in the past year, making it one of the top three performing stocks in the region.
AD Ports Group expanded its global footprint through various acquisitions, including a 70 per cent stake in Egypt’s Transmar and TCI, an 80 per cent stake in Global Feeder Shipping (GFS), and the 100 per cent acquisition of Noatum.
The Group also launched the KEZAD Group, a conglomerate of 12 economic zones that span 550 square kilometers, making it one of the largest economic zones in the world.
Khalifa Port also extended its area from 2.43 square kilometers to 8.63 square kilometers and increased its quay wall from 2.3 kilometers to 12.5 kilometers, making it one of the most advanced deep-water ports globally.
AD Ports Group strengthened its global presence by signing contracts with the Red Sea Ports Authority for port projects in Egypt and partnering with SEG to establish logistics and freight businesses in Central Asia.
The year’s financial highlights included a 41 per cent year-on-year revenue growth to Dhs5.5 billion (+23 per cent year-on-year to Dhs4.8 billion organically), a total net profit of Dhs1.3 billion in 2022 (+51 per cent year-on-year), and an increase in earnings per share (EPS) to Dhs0.25 for the full year in 2022, up from Dhs0.22 in 2021.
Meanwhile AD Ports Group on Saturday announced the launch of a new direct shipping service dedicated to Ro-Ro, between UAE’s Khalifa Port and Kuwait’s Shuwaikh Port.
The new service aims to improve commercial connectivity and facilitates trade with Kuwait.
Commenting on the launch of the new shipping service, Captain Ammar Mubarak Al Shaiba, Acting CEO of the Maritime Cluster and SAFEEN Group, AD Ports Group said: “As the region’s premier facilitator of logistics, industry, and trade, AD Ports Group is committed to utilising its integrated logistics capabilities to meet customers’ requirements, help grow their businesses, and facilitate their access to their target markets with competitive rates and reduced time through Khalifa Port, the strategic gateway to Abu Dhabi.”