Group revenues record 3.9 billion dirhams, a growth of 14%
Abu Dhabi Ports’ profits grow 112% to 845 million dirhams in 2021
Abu Dhabi Ports attributed the growth to diversification in business sectors and the conclusion of new partnerships.
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Abu Dhabi Ports Group recorded during 2021 a growth in revenues of 14% compared to the same period in 2020, to reach 3.9 billion dirhams, compared to about 3.4 billion dirhams in 2020.
Abu Dhabi Ports attributed this rise to the growth in handling volumes, diversification in business sectors, and the conclusion of new partnerships.
According to the group, EBITDA increased during 2021 to reach 1.6 billion dirhams, an increase from the 1.5 billion dirhams recorded in 2020, according to the preliminary unaudited financial statements for the 12 months ending December 31, 2021.
The net profit amounted to 845 million dirhams in 2021, a growth of 112.8%, compared to 397 million dirhams in 2020.
In turn, the value of the group's assets by December 31, 2021 amounted to 28.5 billion dirhams, while the capital shares rose to 10.7 billion dirhams.
Abu Dhabi Ports pointed out that these figures do not reflect the last event in January 2022, which contributed to the increase in assets and capital shares, as the Holding Company (ADQ) transferred the ownership of the shares of two listed companies to the Abu Dhabi Ports Group to include 22.32%. Of the shares of the Logistics Services Company (Aramex), and 10% of the National Marine Dredging Company, which has a combined market value of about 2.4 billion dirhams, according to the closing price of the two companies’ shares on February 7, 2022, as well as the group’s attraction of 4.0 billion dirhams in an initial issuance before Listing its shares on the Abu Dhabi Securities Exchange.
The Abu Dhabi Ports Group stated that it was granted an (A+) rating with a “stable outlook” by S&P and Fitch rating agencies in 2021.
The Chairman of the Abu Dhabi Ports Group, Falah Mohammed Al Ahbabi, said that these distinguished results reinforce the position that the group enjoys during a period when trade and the global supply chain witnessed many challenges.
For his part, the Managing Director and CEO of Abu Dhabi Ports Group, Captain Mohamed Juma Al Shamsi, indicated that the group recorded significant growth during 2021, thanks to the outstanding performance achieved by its business.
Handling sizes
The volumes handled by “Abu Dhabi Ports Group” in 2021 recorded record annual levels of 45 million tons, an increase of 30 million tons over the year 2020. As for the container handling business, the volumes recorded a remarkable growth, reaching 3.4 million TEUs in 2021 in An increase from the previous figure of 3.2 million TEUs recorded in 2020, despite ongoing challenges and constraints on the global container shipping market and supply chain.
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