AD PORTS-<\/p>\n
<\/strong>Abu<\/strong> Dhabi-based port operator AD Ports Group saw an increase of 73% y-o-y in <\/strong>net <\/strong>income in 4Q 2024 to record AED 494 mn<\/strong>, according to a preliminary earnings release (pdf)<\/a>. The company\u2019s revenues rose 28% y-o-y to AED 4.66 bn for the same period.<\/p>\n On an annual basis: <\/strong>AD Ports Group\u2019s bottom line for FY 2024 grew 31% y-o-y to AED 1.78 bn, while overall revenues jumped 48% y-o-y to AED 17.29 bn. The strong returns were driven by solid double-digit growth in the company\u2019s five business segments \u2014 logistics, ports, maritime & shipping, economic cities and free zones, and digital. It also cited contributions from recent mergers and acquisitions, including Dubai-based Global Feeder Shipping (GFS), Karachi Multipurpose Terminal, Dubai Technologies, TTEK, Noatum & KGTL.<\/p>\n Raising the stakes globally: <\/strong>AD Ports undertook a number of acquisitions in FY2024, as it acquired 100% of APM Terminals Castell\u00f3n<\/a>, obtained 81% ownership in a JV set to run Angola\u2019s Luanda Multiport Terminal<\/a>, and secured a majority stake in Egypt\u2019s Safina<\/a>, and Tbilisi Dry Port<\/a>. <\/p>\n \n TALABAT- <\/p>\n Delivery Hero\u2019s Middle East unit Talabat saw its net income jump 54% y-o-y to US<\/strong>D 138 mn in 4Q 2024<\/strong>, while management revenues rose 32% y-o-y to USD 824 mn, according to its earnings release (pdf)<\/a>. Growth was driven by higher gross merchandise volume (GMV), fueled by strong consumer demand, new customer acquisitions, and increased order frequency, alongside margin expansion across both GCC and non-GCC markets, the company said. Improved monetization in non-commission revenue, delivery and service fees, and the tMart business, along with operating efficiencies, also contributed.<\/p>\n On a yearly basis:<\/strong> Talabat\u2019s net income jumped up 64% y-o-y to USD 346 mn in FY 2024, while its revenues grew 32% y-o-y to USD 2.8 bn. <\/p>\n Growth areas: <\/strong>The firm saw its general merchandise value (GMV) increase 23% y-o-y to USD 7.4 bn, driven by sales growth from non-GCC markets (Egypt, Jordan, and Iraq). The company\u2019s average monthly active customers also surged by 25%. <\/p>\n Looking ahead<\/strong>, the company forecasts GMV growth of 17-18% y-o-y, revenue growth of 18-20% y-o-y, and net income margin expansion of 5-5.5%.<\/p>\n REMEMBER-<\/strong> Talabat raised AED 7.5 bn (c. USD 2 bn) back in December<\/a> from its IPO on the<\/a>DFM<\/a> after pricing the offering at the top of the range. The IPO, which saw double-digit oversubscription, marked the largest tech listing globally and the biggest IPO in the GCC in 2024. It is also the DFM's first-ever tech IPO.<\/p>\n ICYMI- <\/strong>Proceeds from Talabat\u2019s USD 2 bn IPO will help pay for some of Delivery Hero\u2019s USD 3.8 bn in convertible bonds, Delivery Hero CEO Niklas \u00d6stberg said last week<\/a>.<\/p>\n \n MARSA MAROC- <\/p>\n Morocco\u2019s <\/strong>leading port operator Marsa Maroc saw its top line surge 18% y-o-y to MAD 1.29 bn in 4Q 2024<\/strong>, driven by increased operations, according to an earnings release (pdf)<\/a>. The firm\u2019s overall revenues also saw a 16% y-o-y increase to just over MAD 5 bn in FY 2024.<\/p>\n Behind <\/strong>the numbers:<\/strong> Marsa Maroc\u2019s container traffic increased 13% y-o-y to 2.9 mn TEUs by the end of 2024. Transshipment operations were up 12% y-o-y to around 1. 7 mn TEUs, while domestic traffic rose 14% y-o-y to 1.2 mn TEUs. Of this, solid bulk and general cargo handling rose 9% y-o-y to 21.7 mn tons. Liquid bulk and vehicles were up 11% and 8%, respectively. <\/p>\n The latest moves:<\/strong> The European Bank for Reconstruction and Development (EBRD) extended a EUR 65 mn loan to Marsa Maroc in December<\/a> for development works at Casablanca and Jorf Lasfar ports. The company also signed a 25-year agreement with CMA CGM in October<\/a> to form a joint venture (JV) to equip and operate half of the Nador West Med container terminal. The JV will invest USD 280 mn into the port\u2019s infrastructure to achieve an annual terminal output of 1.2 mn TEU.<\/p>\n Expansion in Africa:<\/strong> Marsa Maroc obtained a license last month<\/a> to establish its subsidiary Marsa Maroc International Logistics to manage investments and operate new ports in East and West Africa. The firm signed an MoU with the National Port Authority (NPA) of Liberia in November<\/a> to explore modernizing the country\u2019s main ports. The port operator also took on a delegated management contract for two terminals at Benin\u2019s Cotonou Port in July 2024<\/a> and began operating it in October 2024<\/a>.<\/p>\n \n AIR ARABIA-<\/p>\n Emirati low-cost carrier Air Arabia saw its bottom line rise 56% y-o-y to AED 351 mn in 4Q 2024<\/strong> on the back of an increase in passenger numbers, according to an earnings release (pdf)<\/a>. The cost-friendly carrier reported a 7% y-o-y increase in revenues to AED 1.7 bn. <\/p>\n On an annual basis:<\/strong> Air Arabia saw its net income decline 5.1% y-o-y to AED 1.5 bn in 2024, according to the company's financial statements (pdf)<\/a>. The carrier saw its topline rise 11% y-o-y to AED 6.6 bn. The carrier attributed the growth to increased operating capacity, the launch of new routes, and continued network expansion. <\/p>\n \n SALIK-<\/p>\n UAE\u2019s Salik records AED 1.2 bn in profits: <\/strong>Toll gate operator Salik<\/a> saw its bottom line increase by 6.1% to reach AED 1.2 bn at the end of FY 2024, according to its preliminary financial results (pdf)<\/a>. Salik\u2019s revenues stood at AED 2.3 bn, up 8.7% y-o-y in 2023. <\/p>\n Behind the results: <\/strong>Increased toll usage and the establishment of two new gates<\/a> boosted revenue-generating trips by 8% and drove the revenue growth, while a reduction in concession fees imposed by the Roads and Transportation Authority in April<\/a> buoyed its bottom line.<\/p>\n","protected":false},"excerpt":{"rendered":" FY 2024 shaped up to be a good year for AD Ports, Talabat, and Marsa Maroc<\/p>\n","protected":false},"author":1,"featured_media":84507,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[175],"tags":[168,162,174,333,449,150,373,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-ad-ports","tag-e-commerce","tag-earnings-watch","tag-last-mile","tag-marsa-maroc","tag-morocco","tag-talabat","tag-uae","wpautop","entry"],"acf":{"mongo_id":"d34d25b5-7066-47c3-8272-db71f439d557","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/1687.jpg","photo_position":"above","homepage_title":"","full_issue_title":"FY 2024 results from AD Ports, Talabat, Marsa Maroc, and more","related_issue":[84489],"teaser":"FY 2024 shaped up to be a good year for AD Ports, Talabat, and Marsa Maroc","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.7c224e7f-21ba-4f63-ac79-d807d89fa33a.mp3"},"yoast_head":"\n