AD Ports Group, one of the region’s leading logistics, industry, and trade facilitators, announced that revenue for the second quarter increased 35% year on year to AED1.24 billion ($337.5 million), with revenue increasing 25% year on year in H1 2022, achieving record results for H1 growth primarily driven by the Maritime and Economic Cities & Free Zones (EC&FZ) Clusters, and to a lesser extent by the Digital Cluster. Despite the worldwide issues that continue to affect the shipping sector, AD Ports Group’s creative and integrated business model, as well as its ability to develop alliances and revenue stability, allowed it to grow.
With the continuous ramp-up of operations across all clusters, and barring one-time negative consequences, the Group’s Ebitda performance should be backed by increased operating leverage in the future, according to an AD Ports statement.
In Q2 2022, the 22.32% share in Aramex transferred to AD Ports Group provided AED12 million to EBITDA and Net Profit (AED23 million in H1 2022).
EBITDA grew 41% year on year to AED532 million in Q2 2022 (+37% year on year in H1 2022), with EBITDA margin increasing by over 200 basis points to 42.8%. With continuing operations ramp-up across all clusters, and barring one-time negative impacts, the Group’s EBITDA performance should be underpinned by stronger operating leverage in the future.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, said: “The momentum of our growth journey has accelerated throughout the first half of the year, and we anticipate continuing to deliver on our performance for the remainder of the year. The Group’s core businesses have continued to rebound from the severe supply chain disruptions of last year while our new ventures, enhanced service offering, and diversification strategy into synergistic new businesses have been yielding positive results.”
