AD Ports Group delivers AED445 million net profit in Q3 2024

emirates7 - AD Ports Group announced record revenue and profit for Q3 2024, reporting AED 4.66 billion in revenue and AED 445 million in profit, driven by robust growth across its core operations.

The Q3 2024 revenue of AED 4.66 billion reflects a 10% year-on-year increase and a 60% rise when adjusted for vessel trading activities booked in Q3 2023.

On a like-for-like (LFL) basis, excluding the impact of mergers and acquisitions (M&A) and vessel trading activities, Q3 2024 revenue grew by 28% compared to the same period last year.

EBITDA reached AED 1.21 billion for Q3, showing a 60% year-on-year increase and a nearly 100% cash conversion rate.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO, commented, “Our record-breaking third-quarter performance highlights the strong health of our core businesses and the value-added impact of AD Ports Group’s ‘intelligent’ internationalization strategy.”