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AD Ports Group boasts record 2021 profits

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AD Ports Group has issued its 2021 Annual Report with the Abu Dhabi Securities Exchange (ADX), registering record numbers in net profit and earnings per share.

The group revenue has increased for the 14th consecutive year to AED 3.9 billion ($1.06 billion) compared to AED 3.4 billion ($925 million) in 2020. Net profit rose to AED 853 million ($232 million) and earnings per share to AED 0.22 ($0.060).

This is the first Annual Report since AD Ports became listed on the ADX in February 2022.

The news follows the release of the group’s audited financial results for 2021.

AD Ports Group Annual Report 2021

Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “2021 was a transformative year for AD Ports Group, as we delivered robust financial results and strengthened our position as the global financial community’s ‘port of entry’ to invest in the Gulf’s fastest-growing economy.”

The Annual Report shares some of the major agreements signed in 2021, including a 35-year concession agreement with CMA CGM for a new AED 570 million ($155 million) terminal at Khalifa Port.

Amongst other achievements, AD Ports Group partnered up with the Aqaba Development Corporation to drive the development of tourism, logistics, transport, and digital infrastructure within the Jordanian port city.

AD Ports has generated 21 per cent of all non-oil related GDP in the Emirate, according to the report, and empowered more than 212,000 jobs in the United Arab Emirates.

The group also emerged as one of the major distributors of COVID-19 vaccines in the UAE and as a supplier to more than 60 countries worldwide.

Earlier last week, AD Ports signed a Memorandum of Understanding with the Egyptian Group for Multipurpose Stations Company to oversee the development and operation of the Ain Sokhna Port in Egypt.

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