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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

AD Ports Group net profit up 6%

AD Ports upsized its existing Revolving Credit Facility (RCF) from US$1 billion to US$2.125 billion.
  • The Group said it more than doubled year-on-year to AED11.68 billion, up 58% YoY to AED 8.71 billion on a like-for-like basis.
  • General cargo volumes rose by 26 percent YoY to reach 40 million tons in 2023, compared with 31.7 million tons in 2022, 13 percent YoY on an LFL basis.

Abu Dhabi, UAE — AD Ports Group has reported AED 1.36 billion ($370 million) in net profit for 2023, up 6 percent year-on-year.

The Group said it more than doubled year-on-year to AED11.68 billion, up 58% YoY to AED 8.71 billion on a like-for-like (LFL) basis after adjusting for the effect of mergers and acquisitions (M&A).

Revenue growth was driven by the Maritime & Shipping, Ports, Logistics, and Digital Clusters, as well as M&A effect, particularly the completion of the Noatum acquisition on 30th June 2023 (six-month impact), according to a company statement.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, “Navigating the continually evolving, and at times unpredictable, landscape of global trade, our strategic investments have positioned AD Ports Group at the forefront of innovation and growth.”

The Maritime & Shipping Cluster also booked pass-through vessel trading revenues in Q3 & Q4 2023, with no associated profits. Adjusting for vessel trading activities, Group revenue would have increased by 77 percent YoY in 2023, up 23 percent YoY on a LFL basis.

EBITDA was impacted by a notable non-cash exceptional one-off impairment charge of AED 139 million related to an investment in a listed associate in Q4 2023. Adjusting for the negative impact of this one-off, EBITDA would have increased by 29 percent YoY in 2023.

General cargo volumes rose by 26 percent YoY to reach 40 million tons in 2023, compared with 31.7 million tons in 2022, 13 percent YoY on an LFL basis.