Abu Dhabi, UAE–2 April2025: AD Ports Group (ADPORTS:ADX), a leading global enabler of trade, transport, industry, and logistics, issued its 2024 Annual Report, which chronicled a year of record revenue and profit growth, as the Group consolidated two major acquisitions, and drove forward its profit-enhancing international expansion.
The report highlights the ongoing expansion of the Group, as it consolidated Noatum, a leading global logistics company, and Global Feeder Shipping (GFS), a Dubai-based regional container feeder shipping company, while securing multipurpose terminal concessions and intermodal facilities along some of the world’s fastest-growing trade corridors in Egypt, Pakistan, Angola, Tanzania, and Georgia.
All of AD Ports Group’s vertically integrated business clusters – Ports, Economic Cities & Free Zones, Maritime & Shipping, Logistics, and Digital – contributed to record 2024 Grouprevenue of AED 17.29 billion, and record Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of AED 4.51 billion, up 48% and 69%, respectively, from 2023.
Revenue has risen five-fold and EBITDA nearly three-fold, since 2020, amid the Group’s “intelligent internationalisation’’ expansion strategy and its significant investments at home to support Abu Dhabi’s development into an international trade and industrial hub.
H.E. Mohamed Hassan Alsuwaidi, Chairman of AD Ports Group, said: “In a year marked by geopolitical instabilities and evolving global trade routes, AD Ports Group achieved record results, adeptly navigating dynamically changing markets, and seizing new opportunities to advance its value-enhancing international expansion.The integrated trade, transport, and logistics group, under the guidance of our wise leadership in the UAE, emerged as a truly global player in 2024, achieving a new level of geographic reach, international recognition, and financial strength.”
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, said: “In 2024, AD Ports Group delivered on its primary mission to enable trade, supporting the vision of our wise leadership in the UAE. Through its operational agility, and expanding range of efficient, customer-centric, end-to-end solutions, the Groupgrew organically and byselectively adding new portterminals, and maritime, digital, and logistics assets,thereby positioned itself for a new phase of value-adding international growth.’’
Highlights included the December inauguration of CMA Terminals Khalifa Port, an AED 3.1 billion (USD 845 million) container terminal collaboration with strategic partner CMA CGM Group, which expanded the port’s capacity by 23%, securing Abu Dhabi’s position at the forefront of global trade, and underscoring the Group’s commitment to the Emirate and UAE.
During the year, the Group expanded through strategic acquisitions in Africa, Europe, and Central Asia, and added to its global ports and terminals network with new terminal concessions in Egypt, Pakistan, and Angola, as it restructured its growing global business around three new core brands – Noatum Ports, Noatum Maritime, and Noatum Logistics.
Reflecting the Group’s enhanced global role, Khalifa Port was ranked for the first time in the top 20 (position 19) of the world’s largest container ports by Drewry International. The Group also received prestigious international awards for its financial strength and performance, investor relations, employee workplace environment, and ESG programmes, among others.
Strategic Direction
The Group is following a focused, inorganic expansion strategyto acquire complementaryinvestments that add value and strengthen the overall AD Ports Group business ecosystem. Inorganic investments primarily involve logistics, maritime, and port assets, to enhance customer relationships, influence trade routes, improve connectivity,expand the logistics footprint, and build on the Group’s Abu Dhabi-based core assets.
Most investments are currently made in Abu Dhabi, which continues to anchor the global business and drive the Group’s expansion abroad. The growth strategy is intricately linked to leveraging Abu Dhabi’s international standing as a global trading hub. The international opportunities that are being added to the Group offer additional scale, and strong and stable management, while contributing to the Group’s bottom line.
Not only did the Group’s global footprint grow bigger and more diverse in 2024, but it also became more profitable as the five core business clusters leveraged the synergies of their expanding complementary portfolio.With multimodal global connectivity across sea, road, and, for the first time at KhalifaPort, rail, the Group’s multi-cluster business ecosystem delivered on its mission to enableincreasing levels of trade in the Middle East and across its global footprint.
Market Overview
2024 was a positive year for container,bulk, Ro-Ro, tanker, and offshoresegments, which benefited AD Ports Group, operatorof the world’s third-largest pure independent feeder shipping service, according to industry group Alphaliner.The 2.2% growth in global seabornetrade volumes, according toClarkson’s Research, coupled with Red Sea disruptions that elevatedcontainer shipping rates, and diverted Ro-Rovolumes to Autoterminal Khalifa Port, helped drive the Group’srecord revenue and earnings.
While globalcargo demand may soften slightly in 2025, anew series of expected UAE bilateral trade deals, and agovernment strategy to double cumulativeForeign Direct Investment (FDI) by 2031, areseen as sustaining demand.
The UAE economy, boosted by higheroil production and rising exports,continued to outperform the globaleconomy.The UAE economy grew 3.8% annually inthe first nine months of 2024 from a year earlier, according to the UAEMinistry of Economy, with the pace expected to accelerate to 4% to 5% in 2025, amidincreasing oil and non-oil based GDP growth.
2024 was a strong year across most cargosegments, as China remained a key driver ofthe world economy. General cargo volumeswere up about 40% year-on-year, supportedby the Group’s Karachi Bulk Terminal, whichcommenced operations in early 2024.
Keys to growth in 2024 were the full integration of Noatum and GFS, which transformed the Group’sreach and connectivity, generating savings and creating new cross-market routes,
products, and end-to-end solutions, which drove record results.
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