Driven by the continuing success of its Ports, Economic Cities & Free Zones (EC&FZ), and Maritime & Shipping clusters, AD Ports Group reported impressive double-digit growth from top-line to bottom-line in its financial results for the first quarter (Q1) of 2025.
AD Ports Group reported an 18 per cent year-on-year (YoY) increase in revenue, reaching AED4.6 billion (US$1.25 billion), while total net profit grew 16 per cent to AED464 million (US$126.4 million).
Strong Q1 growth reported
EBITDA was up 9 per cent YoY to AED1.14 billion (US$310.6 million). This included a 17 per cent increase in Ports, a 10 per cent increase in Maritime & Shipping, and a 7 per cent increase in Economic Cities & Free Zones. Group EBITDA margin stood at 24.7 per cent for the reported quarter.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, commented: “The positive momentum from our record 2024 financial results continued into the first quarter of 2025, as our resilient and value-adding business ecosystem of interrelated trade, transport, and logistics businesses weathered prevailing macroeconomic and geopolitical uncertainties to drive strong, double-digit growth in revenue and net profit.
“The Q1 solid growth was driven by our Ports, Economic Cities & Free Zones, and Maritime & Shipping clusters, which continue to benefit from our agile response to ongoing geopolitical crises and our ongoing investments in core infrastructure amidst our international expansion.
“In line with the vision of our wise leadership in the UAE, we will continue to follow this prudent, profit-enhancing ‘intelligent internationalisation’ strategy this year as we carefully navigate the turbulence around us to maintain course and position of AD Ports Group, and Abu Dhabi, as world leaders in sustainable trade, transport, logistics, and economic development, drawing on the latest AI and technology innovations.”
There was a marginal increase in total debt, but AD Ports maintained a strong liquidity position, with net debt/EBITDA at a stable 3.4x, compared to 3.3x at the end of 2024.
Operating cash flow was slightly down, impacted by the timing of collections, which led to unfavourable working capital changes. It was at AED725 million (US$197.5 million) in Q1 2025, compared with AED781 million (US$212.8) in the same period in 2024.
While visibility on the global macroeconomic front continues to be challenging (Red Sea/US tariffs), AD Ports Group said it was “well positioned geographically and through its holistic five-cluster integrated business ecosystem, and its asset base and service offering, to deal with the ongoing unpredictable environment.
“The Red Sea disruptions continue to impact positively the Group’s container shipping business while the evolving US tariff policies have had (and are expected to have) an immaterial effect based on the announcements that have been made so far,” the company said in its filing with Abu Dhabi Securities Exchange (ADX).
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