Today's Edition
ABU DHABI (WAM)
AD Ports Group today announced its financial results for the first quarter ending 31st March 2025. Building on the momentum of 2024’s record financial performance, the Group started 2025 with impressive double-digit growth from top-line to bottom-line, driven by the Ports, Economic Cities and Free Zones (EC&FZ), and Maritime and Shipping clusters.
In the first quarter of 2025, AD Ports Group recorded revenue of Dh4.60 billion, marking an 18 percent year-on-year increase, driven by strong performance in Ports, Economic Cities and Free Zones, and Maritime and Shipping clusters.
Group EBITDA amounted to Dh1.14 billion in Q1 2025, translating into a 9 percent YoY growth, driven by a 17 percent YoY increase in Ports, 10 percent YoY in Maritime and Shipping, and 7 percent YoY in Economic Cities and Free Zones (Group EBITDA Margin stood at 24.7 percent in Q1 2025).
Moreover, total net profit soared 16 percent YoY to Dh464 million, mainly driven by the operating performance. Earnings Per Share (EPS) for the quarter stood at Dh0.07, implying a 14% YoY increase.
Capital expenditures (CapEx) for the first quarter of the year reached Dh954 million, with majority of cash outlays going into Economic Cities and Free Zones, Ports (including Dh182 million going into new and renewal of ports concessions), and Maritime and Shipping assets. Capex intensity continued to decline, reaching 21 percent of Group revenue in Q1 2025, vs. 33 percent in Q1 2024.
Operating Cash Flow, which amounted to Dh725 million in Q1 2025 compared with Dh781 million in the same period in 2024, was primarily impacted by the timing of collections, and thus unfavourable working capital changes. As a result, Free Cash Flow to the Firm (FCFF) was slightly negative for the quarter at Dh -173 million.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, said, “The positive momentum from our record 2024 financial results continued into the first quarter of 2025, as our resilient and value-adding business ecosystem of interrelated trade, transport, and logistics businesses weathered prevailing macroeconomic and geopolitical uncertainties to drive strong, double-digit growth in revenue and net profit.
The Q1 solid growth was driven by our Ports, Economic Cities and Free Zones, and Maritime and Shipping clusters, which continue to benefit from our agile response to ongoing geopolitical crises and our ongoing investments in core infrastructure amidst our international expansion.”
He added, “In line with the vision of our wise leadership in the UAE, we will continue to follow this prudent, profit-enhancing ‘intelligent internationalisation’ strategy this year as we carefully navigate the turbulence around us to maintain course and position of AD Ports Group, and Abu Dhabi, as world leaders in sustainable trade, transport, logistics, and economic development, drawing on the latest AI and technology innovations.”
