AD Ports Group, a leading global enabler of integrated trade, industry, and logistics solutions, today reported its strongest quarterly results on record for the third quarter of 2026, confirming the resilience of its diversified and integrated trade ecosystem amidst the ongoing volatile geopolitical and macroeconomic backdrop.
Highlights:
- Revenue in Q3 2026 rose 48% YoY to AED 7.99 billion, with double-digit top-line growth across the four core business clusters, led by a sharp QoQ rebound in the Ports Cluster, strong gains in Maritime & Shipping and Logistics, and continued steady growth in Economic Cities & Free Zones (EC&FZ).
- EBITDA in Q3 2026 grew at an even faster rate of 63% YoY to AED 1.97 billion, as the EBITDA margin improved to 24.6% vs. 22.3% during the same period a year earlier.
- Total Net Profit in Q3 2026 soared 64% YoY to AED 975 million, setting a new record quarterly performance amidst a continued challenging backdrop.
- Free Cash Flow to the Firm (FCFF) was negative AED 691 million in Q3 2026 as funding and cash outflow of CLI’s acquisition took place during the quarter. Adjusted for the transaction, FCFF would have been positive at AED 1.17 billion.
In Q3 2026, AD Ports Group further consolidated alternative multimodal trade routes and operations across the United Arab Emirates (UAE) under the National Programme to Strengthen Supply Chain Resilience, minimising the impact of Strait of Hormuz traffic disruptions on customers and the wider UAE and GCC economic ecosystems. The Group maintained its record-setting expansion course by drawing on its end-to-end operating presence across the entire supply chain, its substantial landlord business model component in the domestic market, and its operational flexibility and agility, to mitigate the negative effects of regional disruptions on UAE operations, especially in the shipping business.
Continuity measures implemented since March include the rerouting of cargo operations and feeder shipping services to Fujairah Terminals and Khor Fakkan Port, located outside the Strait of Hormuz on the Gulf of Oman, the deployment of new land and air bridges, and the establishment of additional warehousing and storage facilities.
During Q3 2026, AD Ports Group continued to push ahead with its diversification, market expansion, and upscaling strategy.
Also during the quarter, the Group funded the acquisition of Corredor Logística e Infraestrutura (CLI) Group, Brazil’s leading independent agri-bulk port terminal operator, with completion on 1st October 2026.
The acquisition of MBS Logistics, a Germany-based global integrated logistics services provider is progressing well.
Cluster Performance Highlights
Ports Cluster performance rebounded strongly despite regional challenges. Quarterly UAE container throughput declined 57% YoY to 751K TEUs but rebounded over 30% QoQ, while UAE bulk and general cargo volumes fell 54% YoY to 4.5 million tonnes but rebounded 48% QoQ. In the UAE, container capacity utilisation stood at 29% (up from 22% in Q2 2026), while international capacity utilisation reached 73% (up from 61% in Q2 2026). Overall, the Group continued to mitigate the impact on its UAE ports through the stabilising nature of its landlord business model, expanding international operations, and alternative trade corridors via Fujairah Terminals and Khor Fakkan Port.
Ports Cluster Q3 2026 revenue, which accounted for 10% of quarterly Group revenue, increased 12% YoY to AED 798 million, while cluster EBITDA grew 8% YoY to AED 388 million, implying a quarterly EBITDA margin of 48.7%.
In Economic Cities & Free Zones (EC&FZ), robust growth momentum continued in Q3 2026, with 1.2 km² (net) new industrial land leases added in KEZAD Abu Dhabi (net additions of 3.2 km2 since the beginning of the year), plus strong staff accommodation utilisation and healthy gas provisioning.
Economic Cities & Free Zones Cluster revenue rose 15% YoY to AED 690 million, representing 8% of total Group revenue in Q3, while EBITDA grew 6% YoY to AED 398 million, implying a quarterly EBITDA margin of 57.7%.
In Maritime & Shipping, the strong performance in Q3 2026 continued to be driven by a mix of capacity increases and the high-rate environment, notably in container feeder shipping, Ro-Ro shipping, and tankers. In the container feeder shipping business, Q3 2026 volumes were flat YoY but increased 22% QoQ to 900K TEUs, while rates continued to appreciate both YoY and QoQ.
The size of the bulk, multipurpose, and Ro-Ro vessel fleet reached 76 vessels as of Q3 2026, up from 48 in the prior-year period.
Maritime & Shipping Cluster revenue, which represented 58% of Group revenue during Q3, soared 56% YoY to AED 4.74 billion, while cluster EBITDA more than doubled YoY to AED 1.23 billion, implying a quarterly EBITDA margin of 26.0%.
In Logistics, continued performance improvement in Q3 2026 was largely driven by the proactive measures taken in the UAE and across the GCC to mitigate the regional situation and maintain regional supply chain integrity. These efforts more than offset a 36% YoY decline in UAE quarterly polymer volumes, although there was a 14% QoQ rebound.
Logistics Cluster Q3 2026 revenue, which accounted for 24% of quarterly Group revenue, increased 76% YoY to AED 1.96 billion, while cluster EBITDA rose 246% YoY to AED 116 million, implying a quarterly EBITDA margin of 5.9%.
Dr. Afif Saif Al Yafei, Group Chief Executive Officer – AD Ports Group, said:
“In one of the most challenging periods in its 20-year history, AD Ports Group achieved record results during Q3, a testimony to the Group’s operational resilience, integrity, and its real time-relevant range of unique, customer-centric end-to-end solutions, which overcame macroeconomic and geopolitical uncertainty to reach new levels of income and revenue growth. In parallel, we have also concluded our largest-ever acquisition of CLI, Brazil’s leading independent agri-bulk terminal operator, which was completed 1st October 2026, and will give our business a strong, new international dimension.
By leveraging our trademark operational agility, we delivered double-digit, top-line growth during Q3 across our four core business clusters. Led by the sharp QoQ recovery of our Ports Cluster, which leveraged newly consolidated alternative multimodal trade routes and operations that we established across the United Arab Emirates as part of a national effort to strengthen supply chain resilience, and the timely expansions of our Maritime & Shipping and Logistics businesses, which demonstrated our commitment to customers in the challenging Gulf environment, AD Ports Group delivered exceptional results for shareholders, customers, and the people of the UAE.”