The Abu Dhabi Ports Group released its annual report for the year 2022, showcasing notable successes and a steady increase in subscription requests that exceeded market supply. The group expanded its geographical reach, enhanced services and offers for customers, and launched new navigation services aimed at enhancing global trade connectivity. The group’s revenues grew by 41% year-on-year to reach AED 5.5 billion, and it concluded seven merger and acquisition deals during 2022, with a total value of 5.9 billion dirhams. The group includes integrated business sectors, contributing 13% of the UAE’s non-oil GDP and providing more than 373,000 jobs in the UAE. The Abu Dhabi Ports Group plans to continue expanding globally and strengthening its operations across sectors like shipping, logistics, and ports. The group made significant acquisitions, including 70% of shares in Transmar and TCI, 80% of shares in Global Feeder Shipping (GFS), and 100% ownership of Noatum. Khalifa Port also achieved a quantum leap in expansion, becoming one of the most advanced deep water ports in the world. The group achieved significant financial growth, with revenues growing by 41% year-on-year, net profit amounting to 1.3 billion dirhams, an increase of +51% on an annual basis, and earnings per share increasing.
The Abu Dhabi Ports Group issued its integrated annual report for the year 2022 at the Abu Dhabi Securities Exchange, as the group witnessed notable successes during the year, and a steady increase in which subscription requests exceeded the market supply.
Powerful results
And the group stated that, during the year 2022, it expanded its geographical reach, enhanced the services and offers provided to customers, in addition to launching new navigation services aimed at enhancing global trade connectivity.
In the same year, the group recorded strong operating results and record financial results, with revenues growing by 41% year-on-year to reach AED 5.5 billion. It also concluded seven merger and acquisition deals during 2022, with a total value of 5.9 billion dirhams.
Business sectors
According to the report, the “Abu Dhabi Ports Group” includes integrated business sectors, including economic cities and free zones, ports, and the maritime, logistical, and digital sectors, which enabled it in 2022 to contribute 13% of the UAE’s non-oil GDP, or 24.1%. Of the non-oil GDP of the Emirate of Abu Dhabi, the group has also succeeded in providing more than 373,000 jobs in the UAE, according to the Oxford Economics report.
Exceptional growth
Falah Mohammed Al Ahbabi, Chairman of the Board of Directors of the Abu Dhabi Ports Group, said that the group has strengthened its position as a leading global trade engine, and an integrated provider of logistical and commercial services and transport solutions, thanks to the exceptional growth it achieved during the year 2022 on the strategic, geographical and financial levels, pointing to the achievement of financial and operational results. A record that enhanced the confidence of the new shareholders in the group’s performance.
He added, “As we look forward to the future of the group, we enjoy a strong and solid position that drives us to move steadily towards global expansion, and implement our plans aimed at achieving steady growth rates across our business sectors.”
Radical transformation
For his part, the Managing Director and CEO of Abu Dhabi Ports Group, Captain Mohamed Juma Al Shamsi, said: “The year 2022 represented a stage of radical transformation in the group, with our achievement of exceptional financial results, and the consolidation of our position as a leading provider of supply chain solutions, and Abu Dhabi’s gateway to trade with the booming economies in the region.” .
He added, “We look forward to 2023, and plan to build on the momentum of our achievements in 2022 to continue providing added value to our shareholders. Our strategic directions will also focus on expanding our reach globally and strengthening our operations across vital sectors that include shipping, logistics and ports.”
acquisitions
In its annual report, the Abu Dhabi Ports Group highlights a set of major achievements, acquisitions and agreements it signed over the course of 2022, which contributed to strengthening its global presence.
After a year of listing its shares on the Abu Dhabi Stock Exchange, the group’s shares achieved returns of more than 80% to its shareholders, becoming among the three best performing shares in the region during the year. The group has also made great strides in expanding its global presence, through huge acquisition deals, which included 70% of the shares of the Egyptian companies “Transmar” and “TCI”, and 80% of the shares of Global Feeder Shipping (GFS), and its acquisition 100% ownership of the company «Noatum».
Khalifa Port
Abu Dhabi Ports strengthened its position as a major player in the global economic scene through the launch of the “Kizad Group”, which includes 12 economic zones, extending over a vast area of 550 square kilometers, to become “Kizad” one of the largest economic zones in the world.
In turn, “Khalifa Port” achieved a quantum leap in its expansion journey that continued over the past ten years, as its area expanded from 2.43 square kilometers to reach 8.63 square kilometers, and the quay wall increased from 2.3 kilometers to reach 12.5 kilometers. As a result, Khalifa Port is now one of the most advanced deep water ports in the world.
The Abu Dhabi Ports Group also expanded its global presence by concluding contracts with the General Authority of Red Sea Ports to develop port projects in Egypt, and launched a joint venture with Uzbekistan’s SEG to establish shipping and logistics companies in the Central Asian region.
financial achievements
The most prominent financial achievements included the growth of the group’s revenues by 41% year-on-year to reach 5.5 billion dirhams, and the total net profit amounted to 1.3 billion dirhams in 2022, an increase of +51% on an annual basis, and the earnings per share increased over the course of 2022 to reach 0.25 dirhams , after it was 0.22 dirhams in 2021.
In conclusion, the Abu Dhabi Ports Group’s integrated annual report for the year 2022 showcased the notable successes and steady increase in subscriptions that exceeded market supply. The group expanded its geographical reach, enhanced services to clients and launched new navigation services aimed at enhancing global trade connectivity. The group recorded strong operating results and achieved record financial results, with revenues growing by 41% year-on-year to reach AED 5.5 billion. The group’s strategic, geographical and financial achievements enhanced the confidence of new shareholders in the group’s performance. Looking forward to the future, the group plans to build on its momentum to continue providing added value to its shareholders and expand its reach globally while strengthening operations across vital sectors. Abu Dhabi Ports Group is truly a leading global trade engine, providing integrated logistics, commercial services and transport solutions while creating enormous employment opportunities for the UAE.