AD Ports Group announces record results for 2022
(Posted on 20/02/23)
AD Ports Group a global premier facilitator of logistics, industry and trade, has announced its financial results for the 12 months ended December 31, 2022, reporting strong operational and financial performance, with revenue growth of 41% year-on-year to AED 5.5 billion (+23% year-on-year to AED 4.8 billion organically).
The Group’s strong results were driven by the performance of its Maritime and Ports Clusters as well as acquisitions and new partnerships. EBITDA increased to AED 2.2 billion in 2022, +37% YoY (+24% YoY to AED 546 million in Q4 2022). Organically, EBITDA grew by 27% YoY to AED 2.0 billion. Total Net Profit reached AED 1.3 billion in 2022, +53% YoY (+42% YoY to AED 365 million in Q4 2022)
On a like-for-like (LFL) basis, general cargo volumes increased by 3% to reach 31.7 million tonnes in 2022, compared with 44.6 million tonnes in 2021, which included a one-off sand supply project of 14.7 million tonnes. Container throughput grew to 4.33 million TEUs (twenty-foot equivalent units) in 2022, +28% year-on-year (+27% year-on-year to 1.17 million TEUs in Q4 2022) as utilisation of the two existing container terminals continued to improve (51% in 2022 vs. 40% in 2021 and 55% in Q4 2022 vs. 43% in Q4 2021).
Ro-Ro and Cruise Passenger volumes also rebounded strongly on the back of the abated effect of the COVID-19 pandemic.
In the EC&FZ Cluster, 4.2 sq.km. of new leases (net) were signed in 2022.
In the Maritime Cluster, all operational indicators - vessel fleet, port calls, container feedering volumes, transhipment volumes, marine services activities - recorded strong growth.
In the Logistics Cluster, the key highlight in Q4 2022 was the acquisition announcement of 100% ownership of Noatum, a logistics services provider with presence in 26 countries across five continents, for an Enterprise Value of EUR 660 million. The value and earnings accretive acquisition, will, upon completion, significantly broaden AD Ports Group’s global footprint and position it among the leading logistics and freight forwarding companies in the world.
In September 2022, AD Ports Group also completed the acquisition of a 70% stake in International Associated Cargo Carrier (IACC) in Egypt, which fully owns Transmar and TCI, for an Enterprise Value of AED 514 million (USD 140 million).
In total, the Group inked seven M&A transactions in 2022 totalling AED 5.9 billion, with GFS, Noatum, and Eskan Al Jamae yet to be completed.
In terms of financial performance, EC&FZ Cluster recorded revenue increase of 6% year-on-year to reach AED 1,658 million in 2022, benefitting from previously signed land leases, higher utilities revenues, strong momentum in warehouses revenues, as well as positive revenue effect of previous contingent asset related to leases out of Razeen worker residential cities for COVID-19 isolation and quarantine purposes.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “2022 was an exceptional year for AD Ports Group with strong results reflecting the effectiveness of our ambitious growth strategy, and the focus on delivering on our promises to our shareholders and stakeholders, thanks to the continuous support of our wise leadership.
“The Group’s remarkable financial and operational performance was driven by our Maritime and Ports Clusters’ results, coupled with strategic investments, new joint ventures, partnerships and acquisitions that enabled us to expand our geographic footprint, our services and offerings as well as enhance our position as a major player in global trade and logistics. For 2023, we will be focusing on maximising returns and generating portfolio synergies, while providing our customers with superior end to end supply chain outcomes.”
Latest News
Rail freight is key competitive advantage for German seaports
(Posted on 23/12/25)With this year’s Rail Conference “Rail Freight Transport and Seaports”, a joint initiative... Read more
ABL Group and ICG announce the successful acquisition of SCF Containers
(Posted on 18/12/25)Asian Bulk Logistics (ABL Group) and ICG have jointly announced the successful completion of ABL&rsquo... Read more
AD Ports and AVESTO establish New Logistics JV in Tajikistan
(Posted on 18/12/25)Abu Dhabi based AD Ports Group, a leading global enabler of integrated trade, industry and logistics... Read more
Patrick Krawutschke appointed new Managing Director at HPC
(Posted on 18/12/25)The Executive Board of Hamburger Hafen und Logistik AG (HHLA) has appointed Patrick Krawutschke as Managing... Read more
Karachi Gateway agreement to develop clean bulk handling and storage facility
(Posted on 09/12/25)Abu Dhabi based AD Ports Group, a global enabler of integrated trade, transport, industry, and logistics... Read more
30 Years of DUKC at Port Hedland
(Posted on 04/12/25)This year marks a significant milestone in maritime innovation as Port Hedland, Australia, celebrates... Read more
Major capital investment programme for ABP’s South Wales ports
(Posted on 02/12/25)Associated British Ports (ABP), the UK’s leading port operator, has announced the latest tranche... Read more
Strategic partnership for Vietnam-Japan green supply chain
(Posted on 24/11/25)During the Investment, Labour, and Trade Promotion Programme in Japan (November 16–22, 2025),... Read more
AD Ports signs two KEZAD land Leases of over 500,000sqm with Indian firms
(Posted on 24/11/25)AD Ports Group subsidiary Khalifa Economic Zones Abu Dhabi - KEZAD Group, the largest operator of integrated... Read more
AD Ports reports record Q3 net profit of AED596M
(Posted on 15/11/25)Abu Dhabi based AD Ports Group, a global enabler of integrated trade, transport, industry, and logistics... Read more
