Impressive Financial Growth: Abu Dhabi Ports Group’s Revenue Soars to AED 11.68 Billion

Abu Dhabi Ports Group announced today its preliminary financial results for the 12 months ending December 31, 2023. The company reported strong operational and financial performance, with revenues more than doubling on an annual basis to reach AED 11.68 billion. This represents a year-on-year increase of over 58%, excluding the impact of mergers and acquisitions, compared to AED 8.71 billion in the previous year.

In the fourth quarter of 2023, the Group’s revenues increased by 105% on an annual basis, reaching AED 3.57 billion (+41% compared to the previous quarter at AED 2.45 billion). Revenues for the full year of 2023 increased by 112% on an annual basis, reaching AED 11.68 billion (+105% in the fourth quarter of 2023 on an annual basis at AED 3.57 billion).

These impressive financial results highlight Abu Dhabi Ports Group’s strong performance and growth in the past year. The significant increase in revenues demonstrates the successful implementation of the company’s strategic initiatives and the positive impact of its operations in the port industry.

Abu Dhabi Ports Group is a key player in the regional maritime sector, overseeing the management and development of ports and industrial zones in Abu Dhabi. The company operates a diverse portfolio of assets, including Khalifa Port, one of the largest container terminals in the Middle East, and KIZAD, a leading industrial zone.

The strong financial performance is a result of increased volumes and improved operational efficiency across the Group’s portfolio. The company has continued to attract new customers and expand its services, enhancing its position as a preferred partner for global trade and logistics.

Commenting on the results, the CEO of Abu Dhabi Ports Group, said, “We are pleased with the strong financial performance achieved in 2023. These results reflect our commitment to delivering value to our customers and stakeholders, as well as our ability to adapt and thrive in a challenging market environment.”

He further added, “We will continue to invest in our infrastructure, technology, and human capital to further enhance our capabilities and drive sustainable growth in the years to come.”

Abu Dhabi Ports Group’s robust financial results indicate a positive outlook for the company and reaffirm its position as a leading player in the maritime and logistics sector. With a strong focus on innovation and customer-centric solutions, the company is well-positioned to seize new opportunities and contribute to the economic growth of the UAE.

WAM