ABU DHABI – The year 2023 was not just a year of growth and expansion for AD Ports Group; it was a year in which the Group strived to redefine the boundaries of the maritime and logistics industry, said AD Ports Group Chairman Falah Mohammad Al Ahbabi.
“Our achievements are not just a reflection of our strategy, but they also demonstrate that traditional approaches no longer suffice in the rapidly evolving global market,” he added. “We have embraced change, not just to lead but to revolutionize the industry. As we forge ahead, aligned with our wise leaders’ vision, our commitment to sustainability, innovation, and global connectivity will continue to be the cornerstones of our journey.”
In a transformative year marked by unprecedented global expansion and strategic acquisitions, AD Ports Group has further cemented its position as one of the world’s leading facilitators of global trade and logistics. This year has been pivotal in enhancing the Group’s connectivity, capacity, and international presence, underscoring a commitment to driving sustainable innovation and excellence across the global trade and logistics sector.
The year began with the inauguration of the Aqaba Cruise Terminal, the first-of-its-kind facility in Jordan, and concluded with the signing of a definitive concession agreement with the Red Sea Ports Authority (RSPA) for the development and operation of a multi-purpose terminal at Safaga Sea Port.
Moreover, 2023 saw AD Ports Group strengthen its global footprint through strategic agreements and partnerships. As part of the Group’s Africa Strategy and commitment to strategic development within emerging markets, it signed a 30-year extendable concession agreement to manage and operate a multipurpose terminal in Congo’s Pointe Noire Port.
The year also saw AD Ports Group make significant financial strides in investing in future growth, including securing a US$2 billion corporate facility with a syndicate of 13 banks in April 2023. The demand for the facility was overwhelming, demonstrating the banking sector’s confidence in AD Ports Group’s financial health and prospects.
During the first nine months of 2023, the Group’s revenue grew by 116 percent year-over-year to AED 8.11 billion, EBITDA grew by 30 percent year-over-year to AED 2.14 billion, and Net Profit grew by 14 percent year-over-year to AED 1.07 billion.
A key milestone in the Group’s international expansion strategy was the landmark acquisition of 100 percent of Noatum, a global integrated logistics services provider with a presence in all major global markets and trade lanes. This transformative acquisition united two major industry players, each with its own strengths and capabilities, to create a global powerhouse in the trade and logistics space.
AD Ports Group’s focus on investing in key maritime trade routes for the UAE, while replicating the company’s integrated business model in regions offering long-term and sustainable growth prospects, was evident in the signing of a 50-year concession agreement with the Karachi Port Trust. This agreement involves the development of a state-of-the-art container terminal. Under the terms of the 50-year concession, the Joint Venture will undertake significant investments in infrastructure and superstructure over the next 10 years, with the majority planned for 2026. This initiative aims to drive growth, promote trade diversification, and strengthen bilateral ties between the UAE and Pakistan.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, commented, “This year, AD Ports Group transformed into one of the leading global players in our industry, entering new markets and reshaping them to ensure positive impacts for our stakeholders and the communities we serve. As we have navigated uncertainties in the industry due to geopolitical headwinds, our approach has remained bold and forward-thinking, guided by the UAE’s wise leadership. Our rapid expansion and diverse investments are crucial steps towards charting a future where AD Ports Group is synonymous with global presence, innovation, and resilience in the global trade and logistics landscape.”
The Group’s efforts in addressing climate change, aligned with the UAE’s net-zero strategy, have been recognized and celebrated with several global awards this year. Notably, the Group received the Best Sustainability Initiative Award at the ADSG Awards 2023.
The recognition emphasizes AD Ports Group’s innovative and strategic approach to preserving and enhancing the Ras Ghanada Coral Reef, a cornerstone of marine biodiversity in the UAE and the Gulf region.
Additionally, KEZAD Group, a part of AD Ports Group, earned the prestigious United Nations Investment Promotion Award 2023, acknowledging its significant role in attracting investment in renewable energy and clean technologies.
In terms of major recognitions and accolades, the Group’s flagship port, Khalifa Port, received widespread acclaim. It was voted Port of the Year by the Maritime Standard Awards, achieved a Guinness World Record™ title for the largest shipping container logo, and was ranked the 3rd most efficient container port globally on the 2022 Container Port Performance Index.
Furthermore, the Abu Dhabi Cruise Terminal, located at Zayed Port, was named both the World’s and the Middle East’s Best Cruise Terminal by the World Cruise Awards. These accolades further solidify Abu Dhabi’s status as a premier cruise destination and highlight Zayed Port’s world-class facilities and hospitality.
In October, AD Ports Group hosted the 2023 edition of the IAPH World Ports Conference, a landmark event marking its first occurrence within the MENA region. Themed “Reinventing Ports,” the conference brought together major players in the ports sector to discuss opportunities and challenges for sustainable growth, given the sector’s role as the backbone of the global economy.
Additionally, on the sidelines of the IAPH conference, the Group hosted the 61st annual meeting of the Arab Sea Ports Federation. Chaired by Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, this meeting confirmed Abu Dhabi’s pivotal role in the industry, both regionally and internationally.