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Established in 2006, Abu Dhabi (AD) Ports Group is an integrated trade, transport, logistics and industrial development company based in Abu Dhabi, operating under a charter approved by the Abu Dhabi Executive Council. The group has expanded rapidly in recent years and now operates in more than 50 countries across five continents.
AD Ports Group is organised into four main business clusters: ports, economic cities and free zones (EC & FZ), maritime and shipping and logistics- with digital services aligned with business requirements. Together, these platforms support the group’s vertically integrated approach to trade infrastructure, linking port operations, shipping services, logistics networks, and industrial zones. The company listed on the Abu Dhabi Securities Exchange (ADX) in 2022 after raising AED 4 billion in its initial public offering. It is 75% owned by ADQ, the UAE capital’s sovereign investment holding company.
As a key infrastructure gateway for Abu Dhabi and the wider UAE, AD Ports Group’s integrated operating model connects ports, shipping, logistics and industrial development. As of 2025, the group manages 34 port terminals in more than eight countries, including seven terminals in the UAE. It also operates a total fleet of 301 vessels. In Abu Dhabi, the group remains the exclusive owner, operator and developer of all non-oil and non-defence coastal infrastructure, including ports, docks, harbours, waterways, and related maritime facilities.
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Through the acquisition of Global Feeder Shipping (GFS), the group has built one of the world’s largest independent feeder shipping services by capacity, strengthening trade links across the Middle East, Asia, and Africa. Meanwhile, its economic cities and free zones cluster, led by KEZAD Group, oversees more than 550 square kilometres of industrial and economic zones in Abu Dhabi.
The company has also significantly expanded its global logistics footprint through the 2023 acquisition of Noatum, which strengthened its position in automotive logistics, freight forwarding, and supply chain management.
STRATEGIC GROWTH DRIVERS
AD Ports Group has entered a new phase of growth, with its latest financial results highlighting how it is positioning itself as a global trade and logistics platform rather than simply a regional port operator. The group reported record revenue of AED 20.76 billion in 2025, up 20% year on year, while net profit rose 16% to AED 2.07 billion, reflecting strong performance across its infrastructure and logistics businesses.
A major growth driver is the continued expansion of port capacity and cargo throughput. Container volumes handled across the group’s network increased 23% to 7.7 million twenty-foot equivalent units (TEUs) in 2025, while general cargo volumes reached nearly 60 million tonnes. The gains reflect rising trade flows through the UAE and the group’s investment in new terminal capacity, including the CMA CGM-operated facility at Khalifa Port, which began service in 2025 and handled over 1.3 million TEUs in its first year.
Meanwhile, the group’s container feeder shipping business recorded 38% volume growth in 2025, supported by strong demand along trade corridors linking the Gulf with India, the rest of Asia, and Africa. The expansion of feeder services allows AD Ports Group to capture value beyond port operations by connecting regional ports to global shipping networks.
Another important driver is the rapid development of industrial and logistics zones around Abu Dhabi. Through its economic cities and free zone clusters, the company is building large-scale manufacturing and logistical ecosystems that attract global investors and anchor cargo flows into its ports.
INVESTMENT OUTLOOK
Financially, the group’s outlook is supported by improving cash generation. In 2025, it reported positive free cash flow for the first time since its 2022 public listing, suggesting that earlier capital investments in infrastructure and acquisitions are beginning to translate into stronger operating returns.
AD Ports Group maintained a broadly stable capital structure, with net debt at AED 20.6 billion in 2025, compared with AED 18.6 billion in 2024, while net leverage remained steady at around 4.1x, broadly in line with the previous year.
Operational cash generation strengthened significantly during the year. Cash flow from operations rose 28% year on year to AED 5.05 billion, supported by steady growth in operating profit from core activities.
Despite a rise in organic capital expenditure to AED 5.5 billion, the group generated positive free cash flow to the firm (FCFF) for the first time since its 2022 listing, reaching this milestone ahead of earlier guidance that had targeted 2026.
Fitch Ratings affirmed AD Ports Group’s long-term issuer default rating at AA-, with a stable outlook, citing strong government support and proven experience of completing large-scale investment on time and on budget. S&P also affirmed its A+ rating for the company.
During 2025, the group also updated its ESG strategy, placing greater emphasis on decarbonisation and sustainability governance aligned with frameworks developed by the International Sustainability Standards Board (ISSB) and the Task Force on Climate-related Financial Disclosures (TCFD).
AD Ports Group’s strategy centres on expanding along key maritime trade routes while strengthening its vertically integrated logistics model. By combining ports, shipping, logistics, and industrial zones within a single platform, it aims to capture a larger share of global supply chains, thus positioning Abu Dhabi as a major hub linking Asia, Europe, and Africa.
