AD Ports Report Revenue of $4.71 Billion in 2024
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Global Business Magazine- 5 minutes read
AD Ports Group, a leading global enabler of trade, transport, industry, and logistics, on Wednesday announced that it has recorded revenue and profit growth, after it consolidated two major acquisitions, and drove forward its profit-enhancing international expansion.
In its annual report for 2024, AD Ports said that as part of the ongoing expansion of the Group, it has 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 a record revenue of $4.71 billion, and Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) of $1.28 billion, up 48% and 69%, respectively, from 2023.
AD Ports Group Chairman Mohamed Hassan Alsuwaidi said that the company has 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, he said.
The Group’s Managing Director and CEO Captain Mohamed Juma Al Shamisi said that the company 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 Group grew organically and by selectively adding new port terminals, and maritime, digital, and logistics assets, thereby positioned itself for a new phase of value-adding international growth, he added.
Some of the achievements included the inauguration of $845 million CMA Terminals Khalifa Port in December in collaboration with 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.
Market Overview
Last year was a positive year for container, bulk, Ro-Ro, tanker, and offshore segments, which benefited AD Ports Group, operator of the world’s third-largest pure independent feeder shipping service, according to industry group Alphaliner.
The 2.2% growth in global seaborne trade volumes coupled with Red Sea disruptions that elevated container shipping rates, and diverted Ro-Ro volumes to Autoterminal Khalifa Port, helped drive the Group’s record revenue and earnings.
While global cargo demand may soften slightly in 2025, a new series of expected UAE bilateral trade deals, and a government strategy to double cumulative Foreign Direct Investment (FDI) by 2031, are seen as sustaining demand.
According to the company, 2024 was a strong year across most cargo segments, as China remained a key driver of the world economy. General cargo volumes were up about 40% y-o-y, supported by the Group’s Karachi Bulk Terminal, which commenced operations in early 2024.
