Abu Dhabi Ship Building seeks to rebalance portfolio by 2021

21/02/2017 06:09 AST

Abu Dhabi Ship Building Company (ADSB) plans to double its services business to 50 per cent of its entire portfolio by 2021, days after signing a Dh100 million contract with the UAE Armed Forces, the CEO said on Monday in an interview at Idex.

“The plan between now and 2021 is to enhance our services to 50 per cent of our business without decreasing revenue. Currently, the majority, 75 per cent, of our revenue comes from shipbuilding, whilst the rest comes from services, at 25 per cent,” said Khalid Al Mazrouei, CEO of ADSB.

The part-government owned company’s shipbuilding business is overwhelmingly made up of military vessels, with only 10 per cent coming from commercial projects.

On Monday afternoon, ADSB officially handed over Al Hili, the sixth and the latest Baynunah-class corvette built by Abu Dhabi Ship Building (ADSB) to the UAE Navy, in the presence of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

“The value of projects we are working to close in 2017 is Dh1.5 billion, from shipbuilding and services. Our pipeline is predominantly made up of military projects, which I cannot announce, but I can say that they are in the final stages of discussions,” Al Mazrouei said. “Some are from the UAE, and some from outside the UAE,” he added


Gulfnews

News

ADSB’s net profit nearly doubles in 2017

21/02/2018

Abu Dhabi Ship Building (ADSB)’s net profit increased to Dh104.8 million in 2017 from Dh61.3 million in the previous year due to awarding of marine support services contract, cost efficiency measures

Gulf News

ADSB reports higher revenue, profit

25/04/2016

Abu Dhabi Ship Building announced key business results for 2015 at its recent annual general meeting held in Abu Dhabi. ADSB's consolidated revenue for 2015 was Dh791 million, while its net profit

Khaleej Times

Abu Dhabi firm to build defence vessels for Kuwait

24/01/2016

Abu Dhabi Ship Building (ADSB) has won a Dh260 million contract from the Kuwaiti government to build eight boats, as the Arabian Gulf neighbour looks to bolster its maritime patrol and defence capabi

The National

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Valuation

ADSB Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
IQCD 108.99 0.99 (0.91%)
QEWS 186.60 -1.50 (-0.80%)
MPHC 15.10 -0.17 (-1.12%)
AGLTY 825.00 -10.00 (-1.20%)
ALBH 0.56 0.00 (0.00%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap