Abu Dhabi - Mubasher: The revenues of Abu Dhabi Ports Group rose by 21% to AED 1.832 billion ($499 million) during the first half (H1) of 2021, compared to AED 1.517 billion ($413 million) in the year-ago period.

Higher revenues are attributed to organic growth, diversification into new businesses, new leases, and partnerships, according to a recent press release.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached AED 770 million ($210 million) in H1-21, up 8% from AED 714 million ($195 million) in the year-ago period.

In the meantime, the group recorded cargo volumes of 25 million metric tonnes in the first six months of 2021, compared to 15 million metric tonnes in the corresponding period of 2020.

Container throughput rose to 1.59 million TEUs in H1-21 from 1.57 million TEUs (twenty-foot equivalent units).

The Group CEO of AD Ports Group, Mohamed Juma Al Shamsi, remarked: "Our financial performance is underpinned by continued expansions and increased activity, with key partnerships and joint ventures being established that are expected to deliver reliable returns in the future."

Meanwhile, the Group Chief Financial Officer of AD Ports Group, Martin Aarup, said: "Our invested capital increased from AED 19.4 billion (USD 5.3 billion) in 2020 to AED 22.4 billion (USD 6.1 billion) in 2021 in line with our ongoing expansion program."