AD Ports Group reported net profit of AED836 million ($228 million) for the second quarter of 2026, up 88 per cent from the same period a year earlier.
Revenue increased 47 per cent to AED7.08 billion, supported by growth across its maritime and shipping, economic cities and free zones, and logistics divisions.
Earnings before interest, tax, depreciation and amortisation reached AED1.74 billion, with the margin rising to 24.5 per cent from 24.2 per cent in the prior-year period. Asset sales contributed AED650 million to revenue and AED294 million to earnings during the quarter.
Free cash flow to the firm was negative AED1.03 billion, reflecting the AED1.1 billion acquisition of an additional 30 per cent stake in Global Feeder Shipping completed on June 23. Excluding the transaction, free cash flow remained positive at AED73 million.
Total net debt increased by AED1.27 billion during the quarter to AED22.73 billion as of June 30, while the net debt-to-EBITDA ratio improved from 3.9 times to 3.7 times.
The group established alternative multimodal routes through Fujairah Terminals and Khor Fakkan Port to mitigate trade disruptions around the Strait of Hormuz. The arrangements involved 27 container vessels, five bulk vessels, 400 trucks and six chartered cargo aircraft.
AD Ports Group also agreed to acquire Brazilian port operator Corredor Logística e Infraestrutura for an enterprise value of AED3.1 billion. The transaction is expected to close by the end of the third quarter of 2026.
The group separately agreed to acquire Germany-based MBS Logistics for €70 million ($82 million), with completion expected in the fourth quarter.
Maritime and shipping revenue increased 62 per cent to AED3.82 billion, while economic cities and free zones revenue rose 132 per cent to AED1.29 billion.
“Our Q2 performance, given the circumstances, was outstanding,” said Managing Director and Group Chief Executive Officer Captain Mohamed Juma Al Shamisi.
