Containers, cargo and profits up for AD Ports

AD Ports has reported growth in cargo and container volumes alongside revenues of AED 2.791 billion (US$ 760 million) for the first nine months of the year.

AD Ports owns and operates 10 ports and terminals in the UAE. The rises it reports reflect many other international ports.

Revenue grew 22% year-on-year driven by volume growth, business diversification and new partnerships, according to the group. EBITDA was up 7% to AED 1.161 billion (US$316 million), up from AED 1.081 billion (USD 295million) during the same period in 2020.

General cargo volumes rose to 37 million metric tonnes in the first nine months of 2021, up from 22 million metric tonnes in the same period in 2020.

Container throughput rose to 2.47 million TEUs (20-foor equivalent units), up from 2.42 million in the same period in 2020.

Captain Mohamed Juma Al Shamsi, Group CEO, AD Ports Group, said: “We reported solid results for the nine months ended September 30, 2021, due to continuing growth in our core businesses and incremental returns from new investments. We are well-positioned for sustained growth as the world economy recovers from the impact of the global pandemic and as we take an active role in helping to resolve global supply chain issues. Our commitment to contribute to Abu Dhabi’s and the UAE’s economic development is stronger than ever.”

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