In recently released audited 2021 financial results for the 12 months ending December 31, AD Ports Group reported revenue growth of 14% year-on-year to AED 3.9 billion in 2021, compared with AED 3.4 billion in 2020, driven by volume growth, business diversification and new partnerships.
EBITDA increased to AED 1.6 billion during 2021, up from AED 1.5 billion in 2020, while net profits reached AED 853 million in 2021, up from AED 397 million in 2020.
General cargo volumes hit a new record level of 45 million metric tonnes in 2021, up from 30 million metric tonnes in 2020, and container throughput increased to 3.4 million TEU up from 3.2 million TEU in 2020, despite the ongoing supply chain constraints faced in the global shipping and container market.
There is every prospect of a further strengthening of the Group’s financial position in 2022. AD Ports has recently assumed control of a 22.32 per cent stake in logistics firm Aramex and a 10 per cent stake in UAE-based contractor National Marine Dredging Company. The combined market value of these stakes was approximately AED 2.5 billion at the time of transfer. AD Ports Group has also more recently acquired Divetech Marine Engineering Services, a UAE-based topside-subsea solutions provider.