AD Ports 9M revenue up by 22 percent

AD Ports Group said on Sunday its revenue rose by 22 percent, reaching AED2.791 billion ($760 million), during the first nine months of 2021 compared to AED2.295 billion during the same period last year.
The growth was driven by volume growth, business diversification and new partnerships, the company said in a statement.
EBITDA rose 7 percent year-on-year to AED1.161 billion during this period, up from AED 1.081 billion during the same period in 2020, with growth across most of the business clusters.
General cargo volumes rose to 37 million metric tonnes in year-to-date September 2021, up from 22 million metric tonnes in the same period in 2020 while industrial zones leased about 2.7 million sq. meters of land in this period, reflecting the wider global recovery from the impact of the COVID-19 pandemic, although some supply chain issues remain, the statement said.
Container throughput grew to 2.47 million TEUs (twenty-foot equivalent units) in the first nine months of 2021, up from 2.42 million TEUs in the same period in 2020, despite the ongoing supply constraints faced in the global shipping and container market.
Captain Mohamed Juma Al Shamsi, Group CEO, AD Ports Group, said, “We are well-positioned for sustained growth as the world economy recovers from the impact of the global pandemic and as we take an active role in helping to resolve global supply chain issues.”
The company signed a concession agreement with CMA CGM Group in July 2021 to establish a new terminal in Khalifa Port.
It also signed a Heads of Terms agreement with Aqaba Development Corporation to build and operate a new cruise terminal at the Port of Aqaba, Jordan, the first of its kind in the country and AD Ports Group’s first cruise facility outside the UAE.
In addition, the Group signed a preliminary agreement with the General Company for Ports of Iraq (GCPI), to explore potential opportunities in the transportation and maritime sectors.