AD Ports Group closes ‘transformative’ 2024 with strong growth, solidifying its global position in trade and logistics

AD Ports Group has solidified its position as a leading facilitator of global trade and logistics through unprecedented global expansion and strategic investments in 2024. The Group’s enhanced connectivity, capacity, and international presence demonstrate its commitment to sustainable innovation and excellence in the global trade and logistics sector. This transformative year has been marked by significant milestones that reflect the Group’s strategic vision and operational prowess.

AD Ports Group delivered record levels of revenue and net profit in 9M 2024 of AED 12.72 billion and AED 1.29 billion, respectively, driven by strong growth across its core businesses: +13% YoY for Ports, +46% YoY for Maritime & Shipping, +11% YoY for Economic Cities and Free Zones, +26% YoY for Logistics, and +4% YoY for Digital.

AD Ports Group recently received an initial A1 credit rating with a stable outlook from Moody’s Ratings (Moody’s), the international credit ratings agency, reflecting the Group’s strong financial performance and liquidity position as well as its robust growth prospects.

Khalifa Port’s new container terminal capacity by 23%, bringing unprecedented opportunities for Abu Dhabi and the UAE. In addition, the inauguration marks a major milestone in the development of Khalifa Port, which since its inception in 2012 has become one of the world’s fastest-growing and most efficient commercial ports.

Autoterminal Khalifa Port has also witnessed a surge of 30% in vehicle traffic in the first half of the year, which was made possible by construction in record time of 90,000 square metres of additional yard storage capacity. This expansion ensures business continuity for its customers and absorbs the uptick in automotive trade.

The integration of Noatum’s logistics assets into AD Ports Group’s structure has been another major milestone. This restructuring leverages Noatum’s international brand equity and solidifies AD Ports Group’s corporate structure while pursuing its international expansion strategy. The integration has led to operating efficiencies that support the Group’s international growth, and the introduction of new products, solutions and entry into new geographies, with enhanced synergies that bolster AD Ports Group’s position as a leader in maritime and logistics solutions and as a leading enabler of trade.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “In 2024, AD Ports Group has strengthened its leading position in global trade and logistics through significant expansions and strategic investments. We’ve recently welcomed His Highness Sheikh Khaled bin Mohamed Al Nahyan, the Crown Prince of Abu Dhabi, to inaugurate CMA Terminals Khalifa Port, the latest infrastructure addition to Khalifa port, which will significantly boost Abu Dhabi’s connectivity. Furthermore, we’ve successfully integrated Noatum, our biggest-ever acquisition, broadening the economic horizons of our Group.”

Al Shamisi added: “Our efforts are reflected in the Group’s climb for the first time into the global top 20 ranks of world container port operators in a survey by Drewry International. We’ve witnessed growing expansion into global markets in 2024, enabled by ventures in Angola, Egypt, Tanzania, Pakistan and Georgia. These successes highlight the robust health of our core businesses and the benefits of our intelligent internationalisation strategy, guided by the vision of our wise leadership.”

Throughout 2024, AD Ports Group expanded its global presence, through securing a 25-year concession at Karachi Port in Pakistan to develop, operate and manage the Bulk and General Cargo terminal berths 11-17, with a planned investment of USD 75 million in the first two years.

In addition, the Group further expanded its presence in Egypt by signing agreements with the Red Sea Ports Authority to develop, operate, and manage three cruise terminals in Safaga, Hurghada, and Sharm El Sheikh. These strategic moves strengthen AD Ports Group’s cruise business in the region, by complementing the Cruise Terminal in Aqaba, Jordan, and supporting increased cruise passenger volumes and experiences across the region.

The acquisition of Egypt’s Safina B.V. in 2024 expands the Group’s route network to 15 Egyptian ports and provides transit services through the Suez Canal. These efforts complement previous acquisitions of Transmar and TCI, and the concession to build, operate, and manage a multipurpose terminal in Safaga, driving revenue and profit growth through cross-cluster synergies.

The Group was also awarded a concession to operate, develop, and manage a multipurpose terminal in Port of Luanda, Angola, and to establish a logistics company with local partners Multiparques and Unicargas. The Port of Luanda handles over 76% of Angola’s container and general cargo volumes, and also serves as a key transhipment hub for Central-West Africa, facilitating maritime trade access to land-locked countries such as the Democratic Republic of Congo and Zambia.

AD Ports Group and Adani together acquired Tanzania International Container Terminal Services (TICTS), which operates berths 8-11 at Dar es Salaam port in Tanzania.

In Central Asia, AD Ports Group acquired a 60% stake in Tbilisi Dry Port, an intermodal logistics facility in Georgia along the Middle Corridor route, linking manufacturing centres in Asia to consumer markets in Europe, and efficiently leveraging a network of sea and dry ports across Kazakhstan, Azerbaijan, Armenia, Georgia, and Türkiye.

Other 2024 highlights include SAFEEN Subsea, a joint venture between AD Ports Group and NMDC Group, launching ‘SAFEEN Green’, a state-of-the-art remotely operated unmanned vessel (USV) designed to revolutionise marine surveys and inspections.

In addition, SAFEEN Group, alongside venture partner Damen Shipyards Group, achieved a Guinness World Record™️ for operating the world’s Most Powerful Electric Tugboat, the ‘Bu Tinah’, the first of its kind in the Middle East, which helped reduce the Group’s carbon footprint from marine activities thanks to its zero emissions from “Tank to Propeller”.

The Group’s success was also supported once again by KEZAD Group, the cornerstone of the Group’s Economic Cities & Free Zones Cluster, the largest operator of integrated and purpose-built economic zones in the region, which had a remarkable year with several key developments.

The Group’s Digital Cluster, which was originally established to lead the digitalisation of the Group, also evolved during the year into an outward facing, standalone profit centre. A highlight for the Cluster in 2024 was AD Ports Group’s acquisition of a 60% equity stake in Dubai Technologies, a trade and transportation solutions developer headquartered in Dubai.

Dubai Technologies has developed a leading intelligent ports’ operations management platform used by many international port operators, based on coveted advanced digital twin technology. Recognising the Cluster’s evolution, AD Ports Group rebranded its core Maqta Gateway identity to Maqta Technologies Group, aligned with its strategic focus of facilitating global trade through digitalisation.

The agreement with Jordan’s Aqaba Development Corporation (ADC) to devise a Port Community System (PCS) for Aqaba’s port operations through the Maqta Ayla joint venture was the Cluster’s first-ever export of Abu Dhabi’s key port digitalisation solution.

AD Ports Group says these technology-driven initiatives underscore its commitment to leading the growth and digital transformation of the trade and logistics sectors.