ABU Dhabi Ports Group has reported revenue growth of 22 per cent for the first nine months of the year to AED2.791 billion (US$760 million) compared with AED2.295 billion (US$625 million) compared to the same period last year.
EBITDA rose 7 per cent to AED1.161 billion, up from AED1.081 billion during the same period in 2020, driven by volume growth, business diversification and new partnerships, reports Ventura, California (LA area).
General cargo volumes rose to 37 million metric tonnes in the nine-month period, up from 22 million metric tonnes in the same period in 2020. Industrial zones leased about 2.7 million square metres of land in this period, reflecting the wider global recovery from the impact of the Covid-19 pandemic, although some supply chain issues remain.
Container throughput grew to 2.47 million TEU in the first nine months of 2021, up from 2.42 million TEU in the same period in 2020, despite the ongoing supply constraints faced in the global shipping and container market.
Captain Mohamed Juma Al Shamsi, Group CEO, AD Ports Group, said: “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.”
Operational highlights from the period included the signing of a concession agreement with CMA CGM Group in July 2021 to establish a new terminal in Khalifa Port.
Martin Aarup, Group CFO, AD Ports Group, said: “We are beginning to realise returns from our new investments, joint ventures and partnerships across feedering, offshore and transshipment services as well as from our expansion of logistics services.
“Our invested capital increased to AED23 billion in the first nine months of 2021, up from AED19.9 billion in the same period in 2020, in line with our ongoing expansion programme.”