Abu Dhabi, UAE– AD Ports Group has reported a net profit of AED1.3 billion ($353 million) in 2022, a 53 percent increase over the previous year.
The Group reported a 41 percent year-on-year growth in revenue to AED5.5 billion, attributing the strong results to the performance of its Maritime and Ports Clusters as well as acquisitions and new partnerships.
EBITDA (Earnings before interest, taxes, depreciation and amortization) increased to AED2.2 billion in 2022, up 37 percent YoY.
Operationally, in the Ports Cluster, container throughput grew to 4.33 million TEUs (twenty-foot equivalent units) in 2022, up 28 percent year-on-year as utilization of the two existing container terminals continued to improve.
On a like-for-like (LFL) basis, general cargo volumes increased by 3 percent to reach 31.7 million tons in 2022, compared with 44.6 million tons in 2021.