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AD Ports Group, the sole developer and regulator of Abu Dhabi Ports, has posted strong operational and record financial results for 2022, with revenue up 41% year-on-year to AED5.5 billion (US$1.5 billion).
The group expanded its global footprint and services, signing seven M&A deals in 2022 totaling AED5.9 billion, in addition to launching new trade routes aimed at enhancing global trade connectivity.
AD Ports Group’s vertically integrated business model, including economic cities and free zones, ports, maritime, logistics and digital clusters, enables the group to contribute 13% of the UAE’s non-oil GDP and 24% of Abu Dhabi’s non-oil GDP in 2022 , according to Oxford Economics. The group has also created more than 373,000 jobs in the UAE.
Falah Al Ahbabi, Chairman of AD Ports Group, said: “AD Ports Group has strengthened its position as a leading international trade facilitator and integrated provider of global trade logistics and transportation solutions, thanks to its extraordinary strategic, geographical and financial Growth. The Group’s unwavering determination, vision and commitment have delivered excellent financial and operational results, reinforcing new shareholders’ confidence in our performance.”
Al Ahbabi continued: “Looking ahead, the Group is now in a very solid position and is well-positioned for global expansion, with plans for significant growth across its various businesses. Economic goals, the group is committed to maximizing its contribution to the country’s economic development, job creation and standing on the international stage, as well as creating maximum value for shareholders.”
Capt Mohamed Juma Al Shamisi, Managing Director and Group Chief Executive Officer, AD Ports Group, said: “2022 is an important inflection point for AD Ports Group as we deliver strong financial results and strengthen our position as a leading integrated supply Its status as a blockchain solutions provider and gateway to the thriving economy of Abu Dhabi and the region. The outstanding performance achieved during a time of unprecedented global uncertainty is a testament to the wisdom and vision of the UAE leadership.”
“Looking ahead to 2023, we plan to build on the momentum of our achievements in 2022 to create continued value for our shareholders. Our strategic focus will be on expanding our global reach and strengthening our presence in the key shipping, logistics and ports sectors operations. With cutting-edge infrastructure and a state-of-the-art fleet, we are well-positioned for dynamic growth regionally and internationally. We aim to further enhance our service portfolio and deliver an exceptional customer experience globally, ’ he added.
The AD Ports Group Annual Report details some of the key achievements, as well as acquisitions and agreements signed in 2022, which expand AD Ports Group’s global reach.
One year after listing on the ADX, shares of AD Ports Group have returned more than 80% to its shareholders and were among the top three performing stocks in the region during the same 12-month period. The group has also made impressive progress in expanding its global footprint, including a 70% stake in Transmar and TCI in Egypt, an 80% stake in Global Feeder Shipping (GFS) and a 100% acquisition of Noatum.
In addition, AD Ports Group consolidated its dominant position in the global economic landscape through the establishment of KEZAD Group. Consisting of 12 economic zones covering an area of ​​550 square kilometers, KEZAD has become one of the largest economic zones in the world.
Khalifa Port has made major achievements in its ten-year expansion journey, expanding its area from 2.43 square kilometers to 8.63 square kilometers and increasing the quay wall from 2.3 kilometers to 12.5 kilometers. As a result, Khalifa Port is now one of the most advanced deep-water ports in the world.
AD Ports Group is also expanding its global reach with a contract with the Red Sea Ports Authority for an Egyptian port project and partnering with SEG to establish a logistics and freight business in Central Asia.
Key financial highlights for the year include net profit of AED 1.3 billion in 2022, up 51% year-on-year, and full-year earnings per share (EPS) of AED 0.25 in 2022, up from AED 0.22 in 2021. – trade arab news agency
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