ABU DHABI, 20th September, 2016 (WAM) -- Abu Dhabi Ports today announced results for the first half of 2016, demonstrating a 77 percent jump in net profit and 20 percent revenue growth.
The earnings before interest, tax, depreciation and amortisation, EBITDA, margin exceeded 40 percent, reflecting a 15 percent increase compared to H1, 2015.
At the Khalifa Port Container Terminal, KPCT, which is operated by Abu Dhabi Terminals, container volumes increased by 11 percent in H1, 2016.
Bolstered by rapid growth in polymer exports and trans-shipment activity across the Gulf, 699,776 twenty-foot equivalent units (TEUs), a shipping container measurement, were handled in H1, up from 629,941 TEUs in the same period last year. The port successfully completed the implementation of the Terminal Operating System, TOS, in Zayed and Musaffah Ports.
Abu Dhabi Ports saw an increase in Roll-on/roll-off (RoRo) volumes of 4 percent compared with the same period in 2015, with 58,000 vehicles passing through the ports, so far, in 2016.
The amount of new land leased in Khalifa Industrial Zone is over 1.5 million square metres, 50 percent up on this time last year. Industries in Khalifa Industrial Zone continued to expand with 82 Standard Musataha Agreements, SMAs, at an investment amount of over AED40 billion to date. The area has now leased 14.5 million square metres of land, 1.9 million square metres of which is in the trade and logistics zone. There has also been a 17 percent year-on-year increase in the number of investors since 2011, with a value exceeding AED22 billion.
10 facilities in logistics, warehousing, food, printing and packaging, aluminium, workshops, repairs and mixed use are already operational, while 13 more will be operational by December 31st, 2016.
Commenting on the results, Capt. Mohamed Juma Al Shamisi, Chief Executive Officer of Abu Dhabi Ports, said, "These results demonstrate the crucial role that Abu Dhabi Ports plays as the UAE’s regional and increasingly global maritime trade hub, especially for those seeking to access the US$7.8 trillion Middle East, Africa and South Asian region. We continue to invest and upgrade our offerings and facilities to support fast, inter-connected and efficient supply chains, while also reaffirming Abu Dhabi’s position as a centre of excellence in maritime trade.
"The positive role played by Abu Dhabi Ports’ suppliers, partners and employees is at the heart of this growth, in line with the wise vision of the UAE leadership, the Abu Dhabi Plan and Economic Vision 2030, " he added.
WAM/AAMIR/Moran