AD Ports Group posts record net profit in Q3

AD Ports Group's third-quarter revenue rose 53 per cent on year-on-year basis to Dh1.466 billion, driven by strong growth in its maritime cluster and a robust performance of its economic cities and free zones (ECFZ) cluster, the company said on Tuesday.

Net profit soared 77 per cent year-on-year to reach Dh334 million in Q3 2022 ( the figure rose 58 per cent year-on-year to Dh941 million for the first nine months). Earnings per share increased 27 per cent on year-onyear basis to 0.19 for the first nine months of 2022.

EBITDA increased 52 per cent year-on-year to Dh594 million in Q3 2022. This figure stood at Dh1.65 billion, a growth of 42 per cent, for the first nine months.

The figures imply earnings for interest, tax, depreciation and amortisation (EBITDA) margin of 40.5 per cent in Q3 2022 and 43.9 per cent for the first nine months 2022. — wam

An aerial view of Khalifa Port in Abu Dhabi. AD Ports Group maintains a solid financial position and robust balance sheet. — reuters file