Revenue surged 25% YoY to AED 5.75 billion in Q1 2026, through pure organic growth, driven by the strong operational and financial performance of the Maritime & Shipping and Economic Cities & Free Zones (EC&FZ) Clusters

EBITDA growth momentum was even stronger during the quarter with an increase of 33% YoY to AED 1.52 billion, supported by improving profitability, as the EBITDA margin climbed to 26.4% in Q1 2026 vs. 24.7% during the same period a year earlier

Total Net Profit in Q1 2026 soared 41% YoY to AED 653 million as a result of operating leverage, lower finance costs, and stronger contribution from JVs and associates

Free Cash Flow (FCF) was negative AED 348 million in Q1 2026 due to timing effects

AD Ports Group maintains guidance for FY 2026 growth, profitability, CapEx, cash flow, and debt leverage, subject to the evolving regional situation

 AD Ports Group , a leading global enabler of integrated trade, industry, and logistics solutions,  reported strong revenue and net profit performance in the first quarter of 2026, demonstrating the resilience of its diversified and integrated trade ecosystem amidst the challenging and complex geopolitical and macroeconomic backdrop.

From a service offering and geographic perspective, AD Ports Group’s diversified operations, and vertically integrated business model based on long-term partnerships and contracts, focused strategy, and operational flexibility, have proven once again to be effective in turning risks into differentiated opportunities. Throughout the obvious challenges posed by the geopolitical situation in the Arabian Gulf, the Group has been able to maintain uninterrupted services, operating normally with precautionary business continuity protocols activated.

Continuity measures include the rerouting of cargo operations and feeder services to Fujairah Terminals and Khorfakkan Port, and deployment of new land and air bridges, complemented by additional warehousing and storage facilities. AD Ports Group launched new regional feeder shipping services to maintain supply chain integrity, redeploying and scaling up its container and bulk cargo vessels fleet, with plans to further increase fleet capacity. The new services connect with ports in India, Pakistan and Oman, as well as Red Sea ports, and ports along the Upper Arabian Gulf region.

The Group also established a land bridge to transport cargo from Fujairah and Khorfakkan through bonded customs corridors across the UAE to Khalifa Port, Jebel Ali Port, and Sharjah, using 800 trucks and four new daily rail services by Etihad Rail. These efforts were supported by the Group’s expanded warehousing and storage capacity for essential goods, currently exceeding 76,000 m², with plans to more than double to 188,000 m².

Leveraging its award-winning digital trade infrastructure, the Group also launched new freight management platforms that delivered visibility and resilience, enabling the efficient management of trade flows. By unifying and processing data across the Group’s global operations, these platforms have enabled the Group to act on real-time trade lane intelligence to strengthen supply chain integrity, whilst repurposing empty import containers for export along alternative high-volume corridors, which enhanced resilience and reduced time and cost for customers.

In Maritime & Shipping, the strong performance was a combination of volume and price effects, notably in container feeders, Ro-Ro, and tankers, as well as increased drydocking activities. Container feeder shipping volumes rose 20% YoY to 871K TEUs in Q1 2026, driven by increased services and capacity, whilst the bulk, multipurpose, and Ro-Ro vessel fleet reached 63, up from 41 in the same period a year earlier.

In the Economic Cities & Free Zones Cluster, growth momentum continued with 843,000 m² (net) new industrial land leases in KEZAD Abu Dhabi, generating strong demand for warehouses, staff accommodation, and utilities provision. KEZAD also completed the sale of a group of warehouses to MAIR Group for AED 295 million and sold a 1.0 km² mixed-use land plot to Danube Properties for AED 840 million, as part of the Group’s strategy to actively manage its asset portfolio across all business Clusters, and monetise real estate and non-core assets, when opportune.

In the Ports Cluster, UAE operations remained resilient in the face of challenging regional events, with quarterly container throughput declining 5% YoY and general cargo volumes dropping 23% YoY, which were largely offset by strong growth internationally of 17% YoY and 21% YoY, respectively. In the UAE, container capacity utilisation stood at 54% (57% at Khalifa Port), whilst internationally it reached 65%, up from 58% in Q1 2025.

In Logistics, the global freight environment remains challenging, with rising operational costs, and in the UAE quarterly polymer volumes declined 6% YoY as a result of the regional situation.

In Q1 2026, AD Ports Group continued expanding internationally with a trade corridor and region-focused strategy. The Middle East, Central Asia, Pakistan, Egypt, Sub-Saharan Africa, and Mediterranean regions remained in focus, as the Group continued to build operational scale and long-term partnerships. A 30-year concession was secured for a brownfield multipurpose port in Aqaba, Jordan, and a 30-year concession was signed for a new greenfield dry bulk terminal at Douala Port in Cameroon. In parallel, the Group has continued to interconnect its 38 port terminals with associated maritime and logistics services, increasing synergies and enhancing asset utilisation.

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO – AD Ports Group, said: “Faced with rapidly evolving regional developments with global macroeconomic and supply chain implications, AD Ports Group responded decisively in Q1 2026, demonstrating the agility, resilience, and forward-thinking that have underpinned our strong growth over the past two decades. Our Q1 performance was robust, with Group Revenue and Net Profit delivering strong double-digit year-on-year growth of 25% and 41%, respectively. We acted swiftly to mitigate disruption, elevating the ports in Fujairah and Khorfakkan as alternative gateways for the country and the region, launching contingency feeder shipping services, expanding warehousing capacity, and activating integrated land, rail, and air bridges that will sustain our growth into Q2 and beyond. Under the guidance of our wise leadership in the UAE, AD Ports Group will continue to anticipate and adapt to global developments, further strengthening the resilience of our UAE-based global supply chain network, while delivering sustained value creation and growth for our shareholders.”

In its Balance Sheet, AD Ports Group’s debt leverage continued to improve, with a Net Leverage of 3.9x, vs. 4.1x in Q1 2025, and 4.0x in Q4 2025.

Despite a low cash conversion ratio of 62%, Cash Flows from Operations reached AED 943 million in Q1 2026, +30% YoY, on steady growth in operating profit from core operations, and AED 74 million from the asset monetisation programme under a two-year payment plan for the sale of warehouses to MAIR Group.

With quarterly organic CapEx of AED 1.35 billion, the Group generated slightly negative Free Cash Flow to the Firm (FCFF) of AED 348 million but maintains annual guidance of positive FCFF going forward, subject to the evolving regional situation.

Q1 2026 Financial KPIs

• EBITDA is calculated by taking net profit and adding depreciation and amortization, finance costs, income tax expense, impairment of investment properties and subtracting government grants, fair value gain on pre-existing interest in a joint venture and finance income.