Abu Dhabi Ports Company (ADPORTS) investor relations material

Executive summary

• Achieved record Q2 2026 results with net profit up 88% year-on-year to AED 836 million and revenue up 47% to AED 7.08 billion, driven by organic growth, diversification, and resilience amid regional disruptions.

• H1 2026 revenue reached AED 12.83 billion (+36% year-on-year), net profit AED 1.49 billion (+64%), and EBITDA AED 3.25 billion (+41%).

• EBITDA rose 49% year-on-year to AED 1.74 billion in Q2, with margin at 24.5%; EPS increased 86% to AED 0.12.

• Growth momentum continued into July, supported by business and geographic diversification, and limited negative impact on ports offset by strong Maritime & Shipping and Logistics performance.

• Strategic expansion included major acquisitions in Brazil (CLI), Germany (MBS Logistics), and increased stake in GFS.

Financial highlights

• H1 2026 revenue reached AED 12.83 billion (+36% year-on-year), EBITDA AED 3.25 billion (+41%), and net profit AED 1.49 billion (+64%).

• Net debt to EBITDA improved to 3.7x from 4.1x a year ago; liquidity remains strong with AED 3.36 billion in cash and AED 5.89 billion undrawn facilities.

• Operating cash flow in Q2 was AED 2.14 billion, more than double Q2 last year; free cash flow positive at AED 73 million excluding GFS acquisition.

• CapEx for H1 was AED 2.8 billion, with full-year guidance maintained at AED 4.5–5 billion.

• Total assets grew to AED 75.78 billion, and total equity stood at AED 30.07 billion.

Outlook and guidance

• Medium-term guidance for growth, profitability, cash flow, and leverage reaffirmed, with EBITDA margin target of 25–30%.

• Q2 performance seen as the new norm for the remainder of 2026 due to ongoing regional volatility.

• Focus remains on integrating recent M&A, disciplined CapEx, and cash generation.

• CLI acquisition in Brazil expected to close by end of Q3 2026; MBS Logistics deal to close in Q4 2026.

• Management affirms sufficient resources for continued operations for at least 12 months.