AD Ports posts strong Q1 results following busy quarter for M&A

Share

AD Ports Group has announced its financial results for the three months ending 31st March 2024, reporting strong operational and financial performance, with revenue more than doubling Year-on-Year (YoY) to AED 3.89 billion, +22% YoY on a Like-For-Like (LFL) basis after adjusting for the effect of mergers and acquisitions (M&A).

In Q1 2024, AD Ports Group completed the acquisition of APM Terminals Castellon in Spain, Sesé Auto Logistics in Europe, Karachi Gateway Terminal Multipurpose Limited (KGTML) in Pakistan, Dubai Technologies in the UAE, and GFS in the UAE.

Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “We are pleased to have continued the momentum of a successful 2023 through the first quarter of 2024, delivering strong financial and operational results more than doubling our year-on-year revenues and recording healthy profits. This performance highlights our unwavering commitment to excellence and growth as a top player in global trade and logistics.

“Guided by the vision of our wise leadership, the Group is well tructured and has built solid foundations to support the ongoing diversification of its port-centric logistics global footprint in light of the ongoing global geopolitical disruptions and polarisation. We are confident that with assets in Pakistan, Spain, Jordan, Egypt, Congo Brazzaville, Angola, Uzbekistan, Kazakhstan, Georgia, and the UAE, AD Ports Group is well placed to benefit in today’s challenging markets.”

logo