Over the first nine months of 2023, AD Ports Group experienced a remarkable 116% YoY revenue increase reaching US$2.2 billion with EBITDA growing by 30% YoY to nearly US$590 million and net profit rising by 14% YoY to approximately US$290 million.
The year also witnessed significant financial strides as AD Ports Group invested in future growth, securing a US$2 billion corporate facility with a syndicate of 13 banks in April 2023.
Additionally, the year commenced with the inauguration of the Aqaba Cruise Terminal, a pioneering facility in Jordan. It concluded with the finalization of a definitive concession agreement with the Red Sea Ports Authority (RSPA) for the establishment and operation of a versatile terminal at Safaga Sea Port.
Moreover, in 2023, AD Ports Group fortified its global footprint through strategic agreements and partnerships. In line with the Group’s Africa Strategy and its commitment to strategic development in emerging markets, it inked a 30-year extendable concession agreement to oversee a multipurpose terminal in Congo’s Pointe Noire Port.
“Our achievements are not merely a reflection of our strategy, but an example that traditional approaches no longer suffice in the fast-evolving global market,” stated Falah Mohammad Al Ahbabi, chairman of AD Ports Group.
According to a statement, a pivotal moment in the Group’s international expansion strategy was the landmark acquisition of 100% of Noatum, a globally integrated logistics services provider with a presence in all major markets and trade lanes.
This transformative acquisition brought together two major industry players, leveraging their strengths and capabilities to create a global powerhouse in the trade and logistics sector.
AD Ports Group’s commitment to investing in crucial maritime trade routes for the UAE, while replicating its integrated business model in regions offering long-term and sustainable growth prospects, was evident in signing a 50-year concession agreement with Karachi Port Trust to develop a state-of-the-art container terminal.
Under the terms of this concession, the Joint Venture will undertake substantial investments in infrastructure and superstructure over the next decade, with a major portion planned for 2026, aiming to stimulate growth, foster trade diversification, and enhance bilateral ties between the UAE and Pakistan.
“This year, AD Ports Group transformed into one of the leading global players in our industry, entering new markets and reshaping them to ensure positive impacts for our stakeholders and the communities in which we operate,” explained Mohamed Juma Al Shamisi, managing director and group CEO of AD Ports Group.
