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Home Port News AD ports sets record profit in 2022 first quarter

AD ports sets record profit in 2022 first quarter

The financial results for the first quarter of 2022 were published by Abu Dhabi (AD) ports group, which managed to have a double-digit percentage increase both in net profits and income.

More specifically, the company's net profit reached record levels of US$83.31 million (AED306 million), increased by 41% compared to last year's results in the same period. Additionally, AD Ports reported US$285 million (AED1.047 billion) in revenue, achieving a year-on-year growth of 15%.

For the same period, the adjusted EBITDA of the port group increased by 34% to US$142.66 million (AED524 million).

Last but not least, in the first months of the year, AD ports group seems to have achieved dynamic results in new land leases with a record contract of 3.2 square kilometres.

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