Abu Dhabi Ports… acquisitions and agreements that enhance its global presence in 46 countries

Today, Abu Dhabi Ports Group issued its annual report for the year 2023. The report highlighted the group’s achievements, especially with the completion of the acquisition of Nuatom Company, which has a presence in 27 countries, in addition to a series of agreements concluded in Jordan, Egypt, Pakistan, the Republic of the Congo, Kazakhstan and Uzbekistan, which contributed to In doubling the group’s revenues and expanding its global reach in 46 countries. Abu Dhabi Ports Group includes integrated business sectors, including the ports sector, the economic cities sector, free zones, the maritime and shipping sector, and the logistics and digital sector, which enabled it in 2023 to emerge as one of the fastest growing companies and continue its path in Providing trade, industry and logistics services, as its integrated and synergistic business portfolio contributes to leading global trade through innovative and comprehensive supply chain solutions, world-class infrastructure, and intelligent entry into new trade routes to keep pace with global changes. His Excellency Falah Mohammed Al Ahbabi, Chairman of the Board of Directors of Abu Dhabi Ports Group, said: “Abu Dhabi Ports Group witnessed a remarkable transformation during the year 2023, which represented the consolidation of its position as a global provider of trade and logistics services through thoughtful acquisition deals that achieved exceptional value, and strategic expansions in the Gulf region, the Red Sea and the Caspian Sea.” “And in Africa and around the world, this comes in line with the group's efforts to achieve the vision of our wise leadership in diversifying our national economy. In a year that witnessed the worsening state of uncertainty in the global market, the record revenues and profits achieved by the group once again confirmed its flexibility, strength, and value to shareholders. “For his part, Captain Mohammed Juma Al Shamsi, Managing Director and CEO of Abu Dhabi Ports Group, said: “During 2023, Abu Dhabi Ports Group achieved unprecedented qualitative growth in its history.” Al Shamsi added: “Starting from 2024, we plan to continue providing real value to our customers, shareholders, and the communities in which they live.” We are working on it. Following the approach of our wise leadership, we will direct our strategic focus on taking advantage of our world-class infrastructure and advanced fleet to achieve further growth at the regional and global levels.” Abu Dhabi Ports Group began the year 2023 with the opening of the Aqaba Cruise Terminal, the first facility of its kind in Jordan, and concluded the year by signing a final 30-year concession agreement with the General Authority of Red Sea Ports to develop and operate a multi-purpose terminal in the Egyptian port of Safaga, which enjoys a strategic location on… Red Sea Coast. Within the framework of the group’s strategy in Africa and to enhance its efforts in supplying emerging markets, a concession agreement was signed for a period of 30 years, subject to extension, to manage and operate a multi-purpose terminal in the port of “Pointe Noire” in the Republic of the Congo. Within the framework of simulating the integrated business system adopted by the group in regions with sustainable and long-term growth prospects, a 50-year concession agreement was signed with the Karachi Port Fund to develop a modern and advanced container terminal, in a step that contributes to driving growth, enhancing trade diversification, and consolidating bilateral relations between… UAE and Pakistan. In response to the growing demand in the global offshore oil and gas market, ten vessels were purchased to enhance offshore operations in the Middle East and Southeast Asia regions. The year also witnessed significant cooperation with the Kazakh national shipping company “Kazmor Transflot”, which resulted in the acquisition of two advanced ships to transport Kazakh oil across the Caspian Sea. Today, the group includes more than 250 vessels operating across all maritime service lines. The most prominent financial achievements for the year 2023 included achieving strong operational and financial performance during the twelve months ending on December 31, 2023, as the group’s revenues increased by 112% on an annual basis to reach 11.7 billion dirhams, and earnings before interest, taxes, depreciation and amortization increased by 23% on an annual basis. Annually, it reached 2.67 billion dirhams, and the total net profits reached 1.4 billion dirhams in 2023, an increase of more than 6% on an annual basis.