Abu Dhabi Ports Company (ADPORTS) investor relations material

Executive summary

• Achieved record quarterly net profit of AED 653 million in Q1 2026, up 41% year-over-year, with revenue rising 25% to AED 5.75 billion, driven by organic growth and resilience amid regional disruptions, especially in Maritime & Shipping and Economic Cities & Free Zones clusters.

• EBITDA rose 33% to AED 1.52 billion, with margin expanding to 26.4%; EPS up 43% year-on-year to AED 0.10.

• Maintained robust liquidity (AED 4.6 billion cash, AED 2.8 billion undrawn facilities), improved net debt/EBITDA to 3.9x, and no major debt maturities until 2029.

• Asset monetization advanced, with AED 6.4 billion transacted over six months, including major land and warehouse sales and divestment of non-core holdings.

• Demonstrated operational resilience and agility amid regional geopolitical challenges, maintaining uninterrupted services and activating business continuity protocols.

Financial highlights

• Revenue up 25% year-on-year to AED 5.75 billion; EBITDA up 33% to AED 1.52 billion; net profit up 41% to AED 653 million; EPS up 43% to AED 0.10.

• Operating cash flow at AED 943 million, up 30% year-on-year; free cash flow slightly negative due to elevated CapEx.

• CapEx at AED 1.35 billion, mainly for vessel acquisitions; CapEx intensity at 24% of revenue.

• International operations now 38% of Q1 revenue; could be 68% if all shipping is classified as non-UAE.

• Total assets grew to AED 73,998 million from AED 69,398 million at year-end 2025.

Outlook and guidance

• Reaffirmed medium-term guidance: revenue CAGR >10%, EBITDA CAGR 10–15%, PBT CAGR >15%, EBITDA margin 25–30%.

• Annual CapEx guidance of AED 4.5–5 billion for 2026 and 2027, with over 75% allocated to infrastructure assets; positive free cash flow expected for the year.

• Growth, profitability, and leverage targets unchanged, but subject to evolving regional situation; management confirms sufficient resources for continued operations for at least 12 months.