The AD Ports Group has published its financial results for the three months ended June 30, 2026.
Group revenue in Q2 2026 rose 47 per cent year on year to AED7.08 billion (US$1.93 billion), driven by the strong operational and financial performance of the maritime and shipping, economic cities and free zones (EC&FZ), and logistics clusters.
Gross operating profit in Q2 2026 rose 49 per cent YOY to AED1.74 billion (US$0.47 billion), implying a gross operating profit margin of 24.5 per cent for the quarter vs. 24.2 per cent during the same period last year.
Total net profit in Q2 2026 almost doubled (up 88 per cent YOY) to AED836 million (US$228 million).
In Q2 2026, the AD Ports Group continued to fine-tune and ramp-up alternative multi-modal trade routes and operations across the UAE, minimising the impact of the Strait of Hormuz traffic disruptions for its customers and the wider UAE and GCC economic ecosystem.
The group said its operating presence across the entire supply chain, substantial landlord business model component in its domestic market, and operational flexibility have been instrumental in mitigating the negative effects of regional disruptions on its UAE operations, while proving critical in turning risks into differentiated opportunities, especially in the shipping business.
Continuity measures implemented since March include the rerouting of cargo operations and feeder services to Fujairah Terminals and Khor Fakkan Port, located outside the Strait of Hormuz on the Gulf of Oman, the deployment of new land and air bridges, and the establishment of additional warehousing and storage facilities.
The AD Ports Group also reinforced its regional feeder shipping services in Q2 2026 to maintain supply chain integrity, redeploying and scaling up its container and bulk cargo vessel fleet. These services connect with ports in India, Pakistan, and Oman, as well as Red Sea ports, and ports along the Upper Arabian Gulf region.
In total, a fleet of 27 of the group’s container vessels and five bulk vessels served the alternative shipping trade corridors to ensure uninterrupted cargo movement and supply chain continuity.
In maritime and shipping, the strong performance in Q2 2026 involved a mix of capacity increases and price adjustments, notably in container feeder shipping, Ro-Ro shipping, and tankers. Agency and commercial representation services were also a key driver as a result of strong business expansion in existing markets (Spain and Algeria), and entry into four new markets since the beginning of the year.
In the container feeder shipping business, the 11 per cent and 15 per cent quarter on quarter drop in Q2 2026 volumes to 740,000 TEUs was more than offset by the surge in rates. Average rates for Gulf/Indian Subcontinent services, which accounted for 30 per cent of total quarterly container feeder shipping volumes, soared 96 per cent YOY and 103 per cent QOQ while average rates for Red Sea services, which represented 24 per cent of quarterly volumes, increased 37 per cent YOY and 56 per cent QOQ.
The size of the bulk, multipurpose, and Ro-Ro vessel fleet reached 72 vessels as of Q2 2026, up from 36 in the prior-year period. Maritime and shipping cluster revenue, which represented 53 per cent of group revenue during Q2, soared 62 per cent YOY to AED3.82 billion (US$1.04 billion), while cluster gross operating profit increased 79 per cent YOY to AED1.03 billion (US$0.28 billion).
In EC&FZ, robust growth momentum continued in Q2 2026 – across warehouse leases, staff accommodation, and gas provisioning – with 1.2 square kilometres (net) of new industrial land leases added in KEZAD Abu Dhabi.
EC&FZ cluster revenue, representing 18 per cent of total group revenue in Q2, jumped 132 per cent YOY to AED1.29 billion (US$0.35 billion), while cluster gross operating profit doubled YOY to AED659 million (US$179 million). Excluding gains from the warehouse sale transaction, normalised gross operating profit for the cluster was AED365 million (US$99.4 million).
Ports cluster performance in the quarter remained resilient despite regional challenges. Quarterly UAE container throughput declined 65 per cent YOY to 573,000 TEUs, and UAE bulk and general cargo volumes fell 67 per cent YOY to 3.1 million tonnes due to ongoing disruptions in the Strait of Hormuz.
However, the group effectively mitigated domestic impacts through its landlord business model, expanding international operations, and alternative trade corridors established via Fujairah Terminals and Khor Fakkan Port. In the UAE, container capacity utilisation stood at 22 per cent, while international capacity utilisation reached 61 per cent.
Ports cluster Q2 2026 revenue, which accounted for eight per cent of quarterly group revenue, contracted 17 per cent YOY to AED609 million (US$166 million), while cluster gross operating profit decreased 23 per cent YOY to AED234 million (US$63.7 million).
In logistics, improved Q2 2026 performance was largely driven by proactive measures taken in the UAE and the GCC to mitigate the regional situation and maintain regional supply chain integrity. These efforts more than offset a 23 per cent YOY decline in the UAE quarterly polymer volumes.
Logistics cluster Q2 2026 revenue, which accounted for 20 per cent of quarterly group revenue, increased 30 per cent YOY to AED1.47 billion (US$0.4 billion), while cluster gross operating profit rose 154 per cent YOY to AED94 million (US$26 million).
