announced Abu Dhabi Ports Group, Saturday, On the financial results for the first half of the year ending on June 30, 2021, where it recorded a growth rate in revenues of 21% compared to the same period last year, to reach 1,832 million dirhams – equivalent to 499 million dollars, as it was during the first half of 2020 about 1,517 million dirhams – The equivalent of $413 million, and this rise is due to organic growth in productivity and sales, diversification into new business sectors, leasing additional space, and concluding new partnerships.
EBITDA also recorded a growth rate of 8% compared to the same period last year, reaching 770 million dirhams – equivalent to 210 million dollars, an increase from the figure recorded in the first half of 2020 of 714 million dirhams – equivalent to 195 million dirhams. million dollars, thanks to the tangible growth in the majority of the business of the group’s sectors.
و .شار Captain Mohamed Juma Al Shamsi, CEO – Abu Dhabi Ports Group The results achieved by the group highlight the flexibility it enjoys, and the growth that has been recorded throughout its business in line with its strategy. He said: “We are committed to developing and diversifying the economy of the Emirate of Abu Dhabi and the United Arab Emirates in line with the directives of the wise leadership. This outstanding financial performance came as a result of the continuous expansion and diversification of our activities, the conclusion of major partnerships and the launch of joint projects that are expected to contribute to achieving reliable future returns.”
He added, “We will continue to focus on expanding our customer base in all our business sectors, as long-term contracts are the most prominent component of our knowledge that ensures stable and sustainable revenue.”
In terms of cargo, the volumes handled increased from 15 million tons during the first half of 2020 to 25 million tons in the first half of 2021, while the number of containers handled increased from 1.57 million to 1.59 million TEUs during the period. The same, the industrial zones witnessed the leasing of areas amounting to about 2.4 million square meters during the first half of 2021.
On the capital front, Abu Dhabi Ports succeeded during the period in issuing bonds (with a credit rating of (+ .).A) with a stable outlook by “S&P” and “Fitch”) at a value of 3.67 billion dirhams – equivalent to one billion dollars at the lowest value of bond coupons achieved by a government authority in Abu Dhabi to that date, and its listing on the London Stock Exchange (LSE) and the Abu Dhabi Securities Exchange (ADX) in May 2021.
Notable achievements during the said period included the official opening of the expansion of the container terminal in the Port of Fujairah in June 2021.
For his part, he said Martin Arup, Chief Financial Officer – Abu Dhabi Ports Group: “Our business model is based on long-term contracts that generate guaranteed cash flow, allowing us to plan and invest effectively. In the wake of the (Covid-19) pandemic, we are focused on achieving tangible returns and managing the group’s capital effectively, and in this context, the capital invested has witnessed The group has an increase from 19.4 billion dirhams – equivalent to 5.3 billion dollars, to 22.4 billion dirhams – equivalent to 6.1 billion dollars in 2021, in line with our expansion strategy.”
During the period, the group witnessed a slight decline in returns on invested capital to reach 5.04%, due to the increase in capital that was invested throughout the group’s portfolio, especially in ports and industrial areas, which will achieve growing returns in the coming period.