Abu Dhabi Ports Company PJSC

The Abu Dhabi Securities Exchange has issued a notice regarding a circular resolution by the Board of Directors of Abu Dhabi Ports Company PJSC. Following the resignation of H.E. Falah Mohammad Al Ahbabi from the Board, a resolution will be circulated at 6 PM on Tuesday, June 4, 2024, to appoint a new board member to fill the vacant position. The notice is signed by Emil Pellicer, General Counsel, and a copy has been sent to the Securities and Commodities Authority.

On May 30, 2024, Abu Dhabi Ports Company PJSC announced the resignation of non-executive, independent board member Falah Mohammed Al Ahbabi, effective the same day, due to personal reasons. The announcement was authorized by Group General Counsel Emil Pellicer.

AD Ports Group has appointed Al Ramz Capital as a liquidity provider for its shares listed on the Abu Dhabi Securities Exchange. The agreement aims to improve the trading of AD Ports Group shares by maintaining tight bid/ask spreads, enhancing traded volumes, reducing volatility and the overall illiquidity risk of the stock. Al Ramz Capital will begin trading AD Ports Group shares from 16th May 2024 following regulatory approvals.

AD Ports Group began 2024 with a notable financial and operational performance in Q1. The group's revenue more than doubled year-on-year (YoY) to AED 3.89 billion, and its EBITDA increased by 49% YoY to AED 1.04 billion. The EBITDA margin was 26.7%, and profit before tax and minorities reached AED 462 million, a 27% YoY increase. Total net profit was AED 400 million, up by 10% YoY, and net profit after minorities was AED 314 million, a 5% YoY decrease. The group spent AED 1.27 billion on growth capital expenditure (CapEx) in Q1 2024. Operating cash flow more than doubled to AED 781 million, but free cash flow remained negative at AED 2.01 billion due to payments for several mergers and acquisitions and organic growth CapEx. The group's revenue and EBITDA growth were driven by the Maritime & Shipping, Ports, Logistics, and Digital Clusters, as well as the effects of mergers and acquisitions.

The document provides a review report and summarized consolidated financial information for Abu Dhabi Ports Company PJSC. The data covers the first three months of the fiscal year, ending on 31 March 2024.

On 13th May 2024, the Board of Directors of Abu Dhabi Ports Company PJSC held a meeting via video conference. They approved the company's financial statements for the first quarter of the financial year 2024. The Board also discussed recent developments related to the company's activities and projects. The meeting was communicated by Emil Pellicer, the General Counsel, to the Disclosure & Compliance Section of the Market Operations & Surveillance at Abu Dhabi Securities Exchange.

The Board of Directors of Abu Dhabi Ports Company PJSC (Company) will hold a meeting via video conference at 5 p.m. on Monday 13 May 2024. The main points of discussion will be to consider and approve the Company’s financial statements for the first quarter of the current financial year 2024 and general matters relating to the activities of the Company and its projects. The information is disclosed by the Disclosure & Compliance Section of the Market Operations & Surveillance of the Abu Dhabi Securities Exchange.

AD Ports Group has signed a series of agreements with Unicargas, Multiparques, and the Luanda Port Authority to operate and upgrade the Luanda multipurpose port terminal in Angola for the next 20 years, with a possible 10-year extension. The Group has acquired an 81% stake in a joint venture to operate the terminal and a 90% stake in another to serve the facility and the wider Angolan logistics market. The company has committed to investing $251 million by 2026 to modernise the terminal and develop the logistics business, with the potential for this to increase to $379 million over the concession term. The Port of Luanda handles over 76% of Angola’s container and general cargo volumes and is poised for growth.