Abu Dhabi Ports Company PJSC

AD Ports Group has announced the signing of a purchase agreement with Inveco LLC to acquire a 60% stake in the Tbilisi Dry Port, a new rail-connected logistics hub in Georgia. The group will initially invest AED 61 million ($16.5 million) in the project, which is expected to be operational by Q4 2024. The port is a key logistics hub along the Middle Corridor, a trade lane linking Western Asia to Eastern Europe. The project will include facilities such as a container freight station, warehouses, and a car storage park. It will offer significant intermodal logistics capabilities, and will be developed in three phases.

The text pertains to the consolidated financial statements and reports of the Abu Dhabi Ports Company PJSC for the fiscal year ending on 31 December 2023.

On 11 March 2024, the Board of Directors of Abu Dhabi Ports Company PJSC held a meeting via video conference. During the meeting, they approved the company's audited annual financial statements for the financial year that ended on 31 December 2023. The board also invited the company's annual general assembly to convene on 18 April 2024 or any other date agreed by the Securities and Commodities Authority (SCA). The company will publish the agenda for the annual general assembly meeting after obtaining SCA's approval. The board also discussed recent developments related to the company's activities and projects.

The Board of Directors of Abu Dhabi Ports Company PJSC will hold a meeting via video conference on Monday 11 March 2024 at 3 p.m. The agenda includes reviewing the company's audited annual financial statements for the financial year ended 31 December 2023, and discussing general matters related to the company's activities and projects. The information was disclosed by the Market Operations & Surveillance of Abu Dhabi Securities Exchange and the message was signed by Emil Pellicer, the company's General Counsel. A copy of the notice was sent to the Securities and Commodities Authority.

Abu Dhabi Ports Company PJSC has released its preliminary, unaudited results for the fiscal year ending December 31, 2023. The company, established on March 4, 2006, has a paid, subscribed, and authorized capital of 5,090,000,000 ordinary shares of AED 1 each. The Chairman of the Board is H.E. Falah Mohammed Falah Jaber Al Ahbabi and the CEO is Captain Mohamed Juma Al Shamisi. The external audit was conducted by Deloitte & Touche (M.E.). The company can be contacted through their mailing address, telephone, fax, or email.

The preliminary unaudited results for the fiscal year ending December 31, 2023, have been released by Abu Dhabi Ports Company PJSC. The company, established on March 4, 2006, has a paid-up, subscribed, and authorized capital of 5,090,000,000 ordinary shares of AED 1 each. The Chairman of the Board is H.E. Falah Mohammed Falah Jaber Al Ahbabi, and the CEO is Captain Mohamed Juma Al Shamisi. The company's external auditor is Deloitte & Touche (M.E.). The company can be contacted via post at P.O. Box 54477, Abu Dhabi, UAE, by phone at +97126952000, by fax at +97126952177, or by email at investors@adports.ae.

AD Ports Group reported record full-year 2023 revenue of AED 11.7 billion, a 112% increase from the previous year. EBITDA rose by 23% to AED 2.7 billion, and net profit grew by 6% to AED 1.4 billion. However, Q4 2023 results were impacted by extraordinary one-off items, leading to a flat EBITDA performance and a decrease in profit before tax and total net profit. The company also spent AED 4.57 billion on capital expenditure in 2023, AED 945 million lower than 2022, as part of its plan to invest around AED 15 billion between 2023 and 2027. The company's free cash flow remained negative due to ongoing capital expenditure and acquisitions. The revenue growth was driven by the Maritime & Shipping, Ports, Logistics, and Digital Clusters, as well as mergers and acquisitions, particularly the acquisition of Noatum.

The Board of Directors of Abu Dhabi Ports Company PJSC held a meeting via video conference on 14th February 2024. During the meeting, they approved the Company’s unaudited annual financial statements for the financial year ended 31st December 2023. They also decided to invite the Company’s annual general assembly to convene on 28th March 2024 or any other date approved by the Securities and Commodities Authority (SCA). The agenda for the annual general assembly meeting will be published after obtaining SCA’s approval. The Board also discussed recent developments related to the Company’s activities and projects.

Titan Lithium, a UAE-based company, has signed a 50-year land lease agreement with Khalifa Economic Zones Abu Dhabi (KEZAD) to set up a AED 5 billion lithium processing plant in the Khalifa Industrial Area. The plant, which will be developed in three stages, is set to process battery-grade lithium for electric vehicles. The facility will span over 290,000 square meters and will import approximately 150,000 tonnes of lithium annually from Titan Lithium's mines in Zimbabwe. The project aligns with the UAE's goals of innovation and sustainable development and is expected to contribute significantly to the country's strategic vision of diversifying its economy.

Resolution No. 287 of 2024 announces the temporary suspension of trading on the shares of Abu Dhabi Ports Company PJSC. This suspension is due to the company's Board of Directors meeting scheduled for 11:00 on February 14, 2024, which coincides with the trading session at ADX. Trading will be suspended from 09:00 on February 14, 2024, until the meeting results are received by ADX. All department heads at ADX are required to execute this resolution in their respective fields. The resolution is to be circulated to the Securities and Commodities Authority (SCA), the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was issued on February 12, 2024.