AD Ports Group issues 2022 Integrated Annual Report

AD Ports Group issues 2022 Integrated Annual Report

ABU DHABI, 28th March, 2023 (WAM) -- AD Ports Group on Tuesday released its 2022 Integrated Annual Report with the Abu Dhabi Securities Exchange (ADX), following a successful year that included a listing on the ADX which was heavily oversubscribed. AD Ports Group continued to expand its global presence and service offerings, as well as launching new trade routes to improve global trade connectivity.

The Group reported strong operational and financial performance, with a revenue growth of 41% year-on-year, reaching AED 5.5 billion. Additionally, as part of its ambitious growth strategy, the Group completed seven MandA transactions in 2022 with a total value of AED 5.9 billion.

The vertically integrated business model of AD Ports Group, which includes Economic Cities and Free Zones, Ports, Maritime, Logistics, and Digital Clusters, has enabled the Group to contribute significantly to the non-oil GDP of the UAE and Abu Dhabi. According to Oxford Economics, the Group contributed 13% of the UAE's non-oil GDP and 24% of Abu Dhabi's non-oil GDP in 2022, and has created over 373,000 jobs in the UAE.

Falah Al Ahbabi, the Chairman of AD Ports Group, commented, "The AD Ports Group has firmly established itself as a leading international trade facilitator and a