Press releases, Reports & Disclosures for Abu Dhabi Ports Company PJSC

The Abu Dhabi Securities Exchange has been informed that the Board of Directors of Abu Dhabi Ports Company PJSC will hold a meeting via video conference at 4:00 p.m. on Thursday, 12 September 2024. The meeting will address general matters related to the company's activities and projects. This notification is signed by Emil Pellicer, the General Counsel, and a copy has been sent to the Securities and Commodities Authority.

Noatum, an AD Ports Group company, has acquired a majority stake in Safina B.V., a leading maritime agency and cargo services provider in Egypt and the Middle East. This acquisition, expected to close in Q3 2024, is a strategic move to expand Noatum Maritime's presence in the region. Safina, with its extensive network and expertise, will now have access to Noatum's international network, allowing it to serve a broader range of industries and strengthen its local presence. The acquisition aligns with AD Ports Group's broader strategy in Egypt, which includes recent agreements for managing various ports. Terry Gidlow, CEO of Noatum Maritime, highlighted that this move enhances their service offerings and supports sustainable growth by leveraging Safina's experience and local expertise.

AD Ports Group reported a 56% year-over-year (YoY) increase in EBITDA and a 42% growth in total net profit for Q2 2024. Revenue more than doubled to AED 4.18 billion, driven by organic growth in various clusters and acquisitions. Adjusted for mergers and acquisitions, revenue grew by 6% YoY. EBITDA reached AED 1.07 billion, with a margin of 25.6%. Total net profit was AED 439 million, a 42% YoY increase, and 55% YoY when adjusted for the introduction of corporate income tax in the UAE. Net profit after minorities rose by 16% YoY to AED 333 million.

On 12 August 2024, the Board of Directors of Abu Dhabi Ports Company PJSC held a meeting via video conference at 5:00 p.m. During this meeting, the Board approved the financial statements for the second quarter of the financial year 2024 and discussed general matters related to the company's activities and projects. The information was communicated by Emil Pellicer, the General Counsel, with a copy sent to the Securities and Commodities Authority.

The document is a review report and condensed consolidated financial information for Abu Dhabi Ports Company PJSC, covering the six-month period ending on June 30, 2024.

On 7 August 2024, the Market Operations & Surveillance section of the Abu Dhabi Securities Exchange received a notice from the Abu Dhabi Ports Company PJSC. The notice informed that the Board of Directors would hold a meeting via video conference at 5:00 p.m. on Monday, 12 August 2024. The agenda for the meeting includes discussing and approving the company's financial statements for the second quarter of the financial year 2024 and addressing general matters related to the company's activities and projects. The notice was signed by Emil Pellicer, the General Counsel, and a copy was sent to the Securities and Commodities Authority.

On 4 July 2024, the Board of Directors of Abu Dhabi Ports Company PJSC held a meeting via video conference at 11 a.m. During the meeting, the following resolutions were made: 1. H.E. Mohamed Hassan Alsuwaidi was elected as the Chairman of the Board of Directors. 2. The reconstitution of the Company's Board Committees was approved as follows: - Audit, Risk, and Compliance Committee: - Jasim Thabit (Chairperson) - Mohamed Al Hammadi (Member) - Renzo Bravo (Member) - Nomination and Remuneration Committee: - Mansour Al Mulla (Chairperson) - Najeeba Al Jabri (Member) - Renzo Bravo (Member)

The Board of Directors of Abu Dhabi Ports Company PJSC will hold a meeting via video conference at 11 a.m. on Thursday, 4 July 2024. The agenda includes electing a new Chairman of the Board, considering and approving the reconstitution of the Board's committees, and discussing general matters related to the company's activities and projects. The notice is signed by Emil Pellicer, General Counsel, and a copy has been sent to the Securities and Commodities Authority.

AD Ports Group has signed a definitive concession agreement with the Red Sea Ports Authority to develop, operate, and manage three cruise terminals at Safaga, Hurghada, and Sharm El Sheikh ports in Egypt. The group will invest USD 4.7 million over the next 15 years, with the terminals expected to be operational by 2025. This initiative aims to enhance cruise services, improve access for operators, and introduce new itineraries in the Red Sea region, thereby boosting cruise tourism and passenger experiences. Additionally, AD Ports Group has initialled two 30-year concession agreements with the General Authority of the Suez Canal Economic Zone for the development, management, and operation of a Ro-Ro terminal and a cruise terminal at Sokhna Port. The agreements were signed in Cairo with notable dignitaries in attendance, including Egypt’s Prime Minister and the UAE Ambassador to Egypt. The initiatives are part of AD Ports Group's commitment to enhancing the cruise tourism sector and strengthening UAE-Egypt bilateral ties.