Cargo and container volumes handled reached record highs of 45mn MT and 3.4mn TEUs respectively
AD Ports Group recently announced its 2021 financial results based on preliminary, unaudited financials for the 12 months ended December 31, 2021, reporting revenue growth of 14% year-on-year to AED 3.9bn (US$ 1.1bn) compared with AED 3.4bn (US$ 933mn) in 2020, driven by volume growth, business diversification and new partnerships.
Net profit reached AED 845mn (US$ 230mn) in 2021 from AED 397mn (US$ 108mn) in 2020. As of December 31, 2021, the total assets of the Group stood at AED 28.5bn (US$ 7.8bn), while the equity increased to AED 10.7bn (US$ 2.9bn).
“These excellent results demonstrate that AD Ports Group has consolidated our leadership position during a period where global trade and supply chains have experienced many challenges,” commented Falah Mohammed Al Ahbabi, Chairman, AD Ports Group.
“We believe that the Group is well positioned to accelerate its local and international expansion plans in 2022 and beyond with transformational impact across a broad range of industries,” remarked Captain Mohamed Juma Al Shamsi, Group CEO, AD Ports Group.
“AD Ports Group benefits from our well-balanced capital structure, investment-grade credit ratings, and stable long-term cash flows. This was evidenced by 14% Revenue growth compared to 2020,” said Martin Aarup, Group Chief Financial Officer, AD Ports Group. Container throughput grew to 3.4mn TEUs in 2021, up from 3.2mn TEUs in 2020, despite the ongoing supply constraints faced in the global shipping and container market.
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