AD Ports Group records $4.7bn in revenue for 2024

03/04/2025 03:32 AST

AD Ports Group has achieved record-breaking results in 2024, with its revenues soaring to hit AED17.3 billion ($4.7 billion) and its ebitda (earnings before interest, taxes, depreciation and amortisation), reaching AED4.51 billion ($1.2 billion), thus marking a growth of 48% and 69% respectively when compared to 2023.

The Group's 2024 Annual Report highlighted a year of exceptional performance, during which it successfully integrated two major acquisitions and accelerated its international expansion strategy, boosting profitability.

The report shed light on AD Ports Group's continued expansion, including the integration of Noatum, a global logistics leader, and Global Feeder Shipping (GFS), a Dubai-based regional container shipping company.

Additionally, the Emirati group secured multi-purpose terminal concessions and intermodal logistics facilities in some of the world's fastest-growing trade corridors, including Egypt, Pakistan, Angola, Tanzania, and Georgia.

All of the Group's business segments - Ports, Economic Cities and Free Zones, Maritime and Shipping, Logistics, and Digital - contributed to the record-breaking revenue.

Mohamed Hassan Alsuwaidi, Minister of Investment and Chairman of AD Ports Group, said the Group achieved exceptional results, navigating challenges skillfully while leveraging opportunities to drive its comprehensive international expansion strategy.

AD Ports Group emerged as a key global player in 2024, achieving new levels of geographic reach, international recognition, and financial strength, all driven by the vision of the UAE's wise leadership, he stated.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said that 2024 was defined by success, as the Group pursued its mission to enable trade and support national leadership's vision.

"Through a flexible business strategy and expanding customer-centric solutions, AD Ports Group achieved organic growth and expanded internationally by adding new port terminals and maritime, digital, and logistics assets - opening new horizons for value-driven global expansion," he added.

The Group broadened its global footprint in 2024 through strategic acquisitions in Africa, Europe, and Central Asia, while enhancing its global network of ports and terminals through new concessions in Egypt, Pakistan, and Angola.

Its international operations were restructured under three new core brands: Noatum Ports, Noatum Maritime, and Noatum Logistics.

Highlighting the Group's growing global stature, Khalifa Port was ranked 19th among the world's top 20 container ports for the first time, according to Drewry Maritime Research.

The Group also received multiple international awards, recognising its financial strength, investment performance, investor relations, ESG programmes, workplace environment, and more.

AD Ports Group follows a targeted inorganic expansion strategy, acquiring logistics, maritime, and port assets that enhance its integrated business model, boost customer value, expand trade routes and logistics coverage, and reinforce connectivity - all anchored in Abu Dhabi's core assets.

The Group's growth in 2024 was not limited to international expansion but also became more profitable, thanks to synergies across its five business segments.

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