Abu Dhabi Ports Group (AD Ports Group) announced that in the third quarter of 2024, it recorded unprecedented records in terms of revenue (4.66 billion dirhams) and net profit (445 million dirhams).
Publish dateWednesday 13 November 2024 - 10:22
According to Amac News: Citing the report of Abu Dhabi Ports Group, this remarkable growth represents significant improvements in the group's main businesses.
AD Ports Group reported that the group's revenue reached 4.66 billion dirhams in Q3 2024, representing an increase of 10% year-on-year (YoY) and 60% when commercial vessel activities are normalized in Q3 2023.
Similarly, on a like-for-like (LFL) basis, which adjusts for the impact of mergers and acquisitions and vessel business activities, revenue for the third quarter of 2024 saw a 28% year-over-year growth.
Also, profit before interest, tax, depreciation and amortization (EBITDA) in this period reached 1.21 billion dirhams, which represents a 60% increase compared to last year and a cash conversion rate of nearly 100%.
AD Ports Group reported that the group's revenue reached 4.66 billion dirhams in Q3 2024, representing an increase of 10% year-on-year (YoY) and 60% when commercial vessel activities are normalized in Q3 2023.
Similarly, on a like-for-like (LFL) basis, which adjusts for the impact of mergers and acquisitions and vessel business activities, revenue for the third quarter of 2024 saw a 28% year-over-year growth.
Also, profit before interest, tax, depreciation and amortization (EBITDA) in this period reached 1.21 billion dirhams, which represents a 60% increase compared to last year and a cash conversion rate of nearly 100%.
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Source : news agency wam
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