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A record year for AD Ports
Photo: AD Ports
AD Ports Group has reported strong operational and financial performance for 2023, with revenue more than doubling year-on-year to AED 11.68 billion (USD 3.2 billion). Ebitda rose 23% year-on-year to AED 2.67 billion (USD 0.73 billion), with net profit increasing 6% to AED 1.4 billion (USD 0.38 billion).
The growth was driven by the maritime & shipping, ports, logistics, and digital clusters, as well as mergers and acquisitions, particularly the completion of the Noatum takeover.
Container throughput reached 4.91 million teu, general cargo volumes rose to 40.0 million t, and ro-ro volumes jumped almost fourfold to 777,000 vehicles. The group says it will continue its growth strategy, with recent acquisitions and expansions contributing to its positive performance. (pb)