Key Points
- Third-quarter net profit rose 64% to AED 975 million, with revenue up 48%.
- Maritime and shipping generated 58% of group revenue, growing 56% year on year.
- Results landed as Hormuz tensions forced rerouting of services to alternative UAE ports.
The latest:
AD Ports Group posted a 64% jump in third-quarter 2026 net profit to AED 975 million ($265.5 million), from AED 596 million ($162.3 million) a year earlier, as revenue climbed 48% to AED 7.99 billion ($2.17 billion). EBITDA rose 63% to AED 1.97 billion ($536.4 million), with margin widening to 24.6% from 22.3% in the same quarter of 2025.
Details:
- Maritime lead: Maritime and shipping services was the single largest contributor to growth, with revenue up 56% to AED 4.74 billion ($1.29 billion). The unit accounted for 58% of total group revenue in the quarter, making the group’s quarterly performance heavily dependent on one segment.
- Logistics: Logistics posted the fastest percentage growth of any segment, rising 76% to AED 1.96 billion ($533.7 million). That expansion came alongside the group widening its storage and warehousing capacity in response to regional shipping disruption.
- Ports and zones: The ports segment grew 12% to AED 798 million ($217.3 million), while economic cities and free zones rose 15% to AED 690 million ($187.9 million) — both well behind the double-digit multiples recorded by the maritime and logistics arms.
- Nine-month figures: For the first nine months of 2026, revenue increased 41% to AED 20.83 billion ($5.67 billion) and total net profit rose 64% to AED 2.46 billion ($669.8 million) against the same period last year, matching the quarterly profit growth rate.
- Hormuz disruption: Regional navigation faced disruption tied to tensions around the Strait of Hormuz. The group rerouted shipping services to Fujairah and Khor Fakkan ports, drew on alternative trade corridors, and shifted volumes onto land and air transport.
- CEO framing: Group CEO Saif Al Yafei said growth across all four business segments reflected operational resilience and speed of response to regional challenges, adding that record results coincided with financing “the largest acquisition in the group’s history.”
- Brazil deal: AD Ports completed its acquisition of Infraestrutura e Logística Corredor (ILC) on 1 October 2026. ILC is an independent operator of agricultural bulk cargo terminals in Brazil. A separate acquisition of German logistics firm SPM is still proceeding.
- Group footprint: The group operates across logistics, trade, industry and free zones in more than 50 countries, with a portfolio exceeding 570 square kilometres of economic zones under KEZAD.
- Prior divestment: In 2025 the group sold its 9.77% stake in NMDC Group to Alpha Dhabi Holding for $436 million, a disposal that preceded the current expansion cycle in Brazil and Germany.
Between the lines:
The margin expansion to 24.6% suggests the rerouting to Fujairah and Khor Fakkan did not come at a profitability cost this quarter. But with maritime and shipping supplying 58% of revenue, the group’s headline numbers now track closely with one segment’s exposure to regional shipping conditions — the same conditions that forced the rerouting in the first place.
What’s next
Watch for completion of the SPM Logistics acquisition in Germany, the first full-quarter contribution from Brazil’s ILC terminals, and whether maritime margins hold if Hormuz disruption eases or deepens.
