AD Ports Group on Friday reported its preliminary unaudited financial performance of the full year ending December 31, 2025, with revenue of AED20.8 billion, up 20 percent year-on-year, and net profit of AED2.1 billion, up 17 percent.
The earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 12 percent to AED5.1 billion, having a margin of 24.4 percent. Fourth-quarter net profit also grew 18 percent YoY Compared to AED584 million.
Operationally, the robust growth was influenced by the throughput of container terminals, both in the domestic and international markets, the 3.3 km2 of net new leases of industrial land under Khalifa Economic Zones – Abu Dhabi (KEZAD), and the consequent continued high demand for warehouses, staff accommodation, and gas supply.
Other notable statistics of the group were that all maritime businesses, Shipping, Offshore and Subsea, Marine Services, and Drydocking and Shipbuilding were at high levels, as well as the introduction of the Ro-Ro shipping JV, UGR.
Ports and Economic Cities and Free Zones will still be the staple of the infrastructure-based growth strategy of the group in 2026, with Maritime and Shipping and Logistics still upgrading scale to bring all the assets of infrastructure together and provide customers with end-to-end solutions.
Captain Mohamed Juma Al Shamisi, the Managing Director and Group CEO of AD Ports Group, stated that 2025 was another year of record-level financial performance that was enabled by operational growth and the further establishment of the integrated business model of the group.
He said, “Since the group’s listing in 2022, we have consistently translated growth in volumes, assets, and geographic reach into stronger earnings, cash generation, and capital efficiency.”
Al Shamisi added, “During the year, we strengthened our core infrastructure platforms, advanced our corridor-focused international strategy, and, for the first time since listing, generated positive free cash flow for the full year ahead of guidance, which is a key benchmark of our financial development as an integrated global trade, transport, logistics, and industrial development business.”
He reported that the group is in a good position as it enters 2026 to persevere through market volatility, the need to support the UAE economic diversification agenda, continuing to create end-to-end customer solutions, and the ability to provide sustainable long-term shareholder value.
The performance of the underlying operations of the AD Ports Group in 2025 had been good across Ports, Economic Cities & Free Zones, and Maritime and Shipping Clusters.
The Group simplified and streamlined its corporate organization by converting its Digital Cluster to a federated structure to be more compatible with its growth leadership, efficiency, and performance, especially accelerating AI initiatives and deployment of Agentic AI in all its core operations.
The vertically integrated and synergistic model is now designed to be based on four Clusters: Ports, Economic Cities and Free Zones (EC&FZ), Maritime and Shipping, and Logistics, with the digital services being improved to suit the needs of the businesses and the capacity to cater to the external customers and adapt quickly to the volatile market conditions.
On the balance sheet side, the capital structure of AD Ports Group was quite stable, and the net debt is AED20.6 billion compared to AED18.6 billion in 2024, whereas the net leverage is 4.1x (stable versus 2024).
Operation cash flows rose sharply to AED5.05 billion in 2025, which is more than 28 percent YoY, on a continued increase in operating profit due to core operations and the asset monetization transactions, suggesting an adjusted cash conversion ratio of higher than 80 percent.
Although the annual organic CapEx increased to AED5.5 billion, the group shifted Free Cash Flow to the Firm (FCFF) to positive values for the first time since its listing in 2022, ahead of its projections in 2026.
