AD Ports Group records revenue growth of $499mn in H1 2021

AD Ports Group records revenue growth of $499mn in H1 2021

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AD Ports Group has released its financial results for the first half of the year ended 30 June 2021, reporting revenue of $499 million, up 21 percent year on year from $413 million in the first half (H1) of 2020.

The company achieved this result through organic growth, diversification into new businesses, new leases and partnerships. Its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose 8 percent year-on-year to $210 million, up from $195 million in the first half of 2020, with growth across most of the business clusters.

The underlying business witnessed cargo volumes growing from 15 million metric tons in H1 2020 to 25 million metric tons in H1 2021, while container throughput grew from 1.57 million twenty-foot equivalent units (TEU) to 1.59 million TEUs during the same period. The industrial zones leased about 2.4 million square meters of land during H1 2021.

AD Ports Group successfully issued a $1 billion bond in May 2021, which was dual-listed on the London Stock Exchange (LSE) and the Abu Dhabi Securities Exchange (ADX), earning the lowest coupon rate for an Abu Dhabi government-related entity at the time.

Mohamed Juma Al ShamisiGroup CEO – AD Ports

“Our results demonstrate our resilience and the robust