On 14 August 2026, AD Ports Group (Abu Dhabi's largest port and logistics holding, listed on the Abu Dhabi Securities Exchange) reported the strongest quarterly results in its 20-year history: net profit of AED 836 million (+88% YoY), revenue of AED 7.08 billion (+47%), and adjusted EBITDA of AED 1.74 billion (+49%). First-half 2026 was also a record. Growth drivers include diversified trade corridors, the integrated operating model, and international M&A.
Q2 highlights
From the AD Ports Group release dated 14.08.2026:
- Q2 2026 net profit — AED 836 million, +88% YoY;
- revenue — AED 7.08 billion, +47%;
- adjusted EBITDA — AED 1.74 billion, +49%;
- EBITDA margin — 24.5% (vs 24.2% a year earlier);
- operating cash flow — AED 2.14 billion, +88%;
- net debt — AED 22.73 billion;
- net leverage — 3.7x (vs 4.1x in Q2 2025 and 3.9x in Q1 2026 — improved).
This is the best quarter in the group's 20-year history — a formulation the report itself uses.
First half 2026
- revenue — AED 12.83 billion, +36%;
- net profit — AED 1.49 billion, +64%;
- EBITDA — AED 3.25 billion, +41%.
Cluster breakdown
The group reports across four operating clusters. Q2 2026 figures:
- Maritime & Shipping. Revenue AED 3.82 billion (+62% YoY), 53% of group. EBITDA AED 1.03 billion (+79%). The ro-ro fleet grew to 72 vessels (36 a year earlier). Feeder rates were up 96% YoY on Gulf/Indian Subcontinent services and 37% on Red Sea services.
- Economic Cities & Free Zones. Revenue AED 1.29 billion, more than double YoY, 18% of group. A one-off — the AED 650 million KEZAD Abu Dhabi warehouse sale; underlying organic growth ex-sale — 15%. EBITDA AED 659 million (+100%).
- Logistics. Revenue AED 1.47 billion (+30%), 20% of group. EBITDA AED 94 million (+154%) — the fastest growth rate among clusters.
- Ports. Revenue AED 609 million, 8% of group; the segment saw an expected decline in the quarter as container flows were temporarily reallocated inside the group's integrated network — toward Arabian and Oman Gulf terminals.
Diversified corridors strategy
Management's central message is the resilience of an integrated trade ecosystem: the model lets cargo be shifted across group assets when the region experiences volatility, without eroding consolidated holding revenue.
How it was executed in Q2:
- the Fujairah and Khor Fakkan terminals (Gulf of Oman) were activated as alternative entry/exit points;
- a new bonded transit scheme was rolled out between Fujairah/Khor Fakkan and Khalifa, Jebel Ali and Sharjah ports;
- overland: +400 trucks in Q2, plus increased frequency of Etihad Rail services;
- route warehousing footprint above 54,000 m²;
- for critical commodities the group deployed 6 chartered aircraft;
- a separate AED 84 million berth-enhancement investment at Khalifa Port with Emirates Global Aluminium.
International M&A and capital programme
Major deals announced or closed during the quarter:
- Corredor Logística e Infraestrutura (CLI, Brazil) — strategic agri-bulk operator with 17 million tonnes of capacity; AED 3.1 billion (~$835 million) enterprise value; closing Q3 2026;
- Global Feeder Shipping (GFS) — stake increased to 81% (AED 1.1 billion for an additional 30%), closed on 23 June 2026;
- MBS Logistics (Germany) — AED 300 million (~EUR 70 million) EV, closing Q4 2026;
- Safeen Drydocks vessel construction contracts — AED 1.3 billion (~$354 million) in aggregate;
- refinancing of a $2.5 billion syndicated loan with maturity extended to March 2029;
- quarterly organic capex — AED 1.45 billion;
- undrawn credit facilities — AED 5.89 billion.
Management view
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group: «AD Ports Group delivered a record financial performance in Q2 despite operating through perhaps the most significant challenge in its 20-year history». Resilience, in his words, was underpinned by the group's diversified trade routes, international footprint and integrated business model.
What this means for business and investors in the UAE
Three practical implications for the local audience.
1. UAE logistical resilience as a jurisdiction argument. The country's ability to sustain and grow cargo throughput amid regional volatility is an operational-level argument for the UAE as a hub for regional supply chains and as a base of registration for trading, logistics and manufacturing companies. See a practical treatment in the guide to setting up a logistics centre in the UAE.
2. Free zones as a revenue engine. The Economic Cities & Free Zones cluster doubled revenue YoY: KEZAD and adjacent sites continue to attract industrial, warehousing and agri-industrial tenants. For new operations, that is confirmation of tenant and industrial-property demand.
3. An ADX issuer with record numbers. For local portfolios AD Ports Group's ADX ticker showed verified momentum: +88% in net profit QoQ, leverage improved to 3.7x, operating cash flow up 88%. For the broader UAE 2026 macro backdrop see the UAE economic outlook.
What's next
Watch over the coming quarters: (1) closing of the CLI (Brazil, Q3) and MBS Logistics (Germany, Q4) deals and their contribution to consolidated revenue; (2) whether the integrated cross-border scheme Fujairah/Khor Fakkan ↔ Khalifa/Jebel Ali/Sharjah moves into a steady multi-quarter phase; (3) the contribution of the expanded ro-ro fleet and feeder services to the maritime cluster margin; (4) the pace at which the Ports cluster recovers revenue as the regional trade picture normalises.
This material is informational and does not constitute investment advice. See the official AD Ports Group press release and the Q2/H1 2026 investor presentation at ir.adports.ae for exact figures.
