AD Ports Group records strong revenue of AED3.9 billion in 2021

AD Ports Group records strong revenue of AED3.9 billion in 2021

ABU DHABI, 8th February, 2022 (WAM) -- AD Ports Group today announced its 2021 financial results based on preliminary, unaudited financials for the 12 months ended 31st December 2021, reporting revenue growth of 14 percent year-on-year to AED3.9 billion compared with AED3.4 billion in 2020, driven by volume growth, business diversification and new partnerships.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA), on a reported basis, rose to AED1.6 billion during 2021, up from AED1.5 billion in 2020.

Net Profit reached AED845 million in 2021 from AED397 million in 2020.

As of 31st December 2021, the Total Assets of the Group stood at AED28.5 billion, while the equity increased to AED10.7 billion. These do not reflect recent events in 2022 that increased total assets and equity. In January 2022, the Group received ownership stakes from ADQ in two listed companies comprising a 22.32 percent stake in logistics firm Aramex PJSC (Aramex) and a 10 percent stake in UAE-based contractor National Marine Dredging Company PJSC (NMDC).

The combined market value of these stakes was approximately AED2.4 billion based on the closing price of Aramex and NMDC shares on 7th February 2022. Additionally, in February 2022, the Group raised equity of AED4.0 billion through