ASYAD Delivers EBITDA Growth of 14 Percent in First Half in 2019

Muscat, ASYAD Group Leadership Team

hosted a group-wide employee meeting, branded as Majlis ASYAD, to

showcase the Group’s strong performance from the first half of 2019

and outline keynote initiatives for the second half of the year. The event

was attended by 500 employees and stakeholders from across the

Group.

The Majlis, which took place at Oman Convention and

Exhibition Centre, featured overview presentations on current

operations and upcoming plans, as well as a question and answer

session for attendees. The regular event aims to build alignments and

synergy through all the operating companies that are part of the

ASYAD Group.

Outlining key achievements, Abdulrahman al-Hatmi, Group

CEO, commented: ASYAD has delivered rapid growth in the last 6

months due to sales increases and new revenue streams, resulting in a

EBITDA growth of 14% and a forecast of 23% growth overall for 2019. I

am pleased to say that 2019 is set to deliver our best Group financial

performance to date.

He added that the Group ports are forecast to see a 27% growth

in bulk volumes and 14% growth in container volumes in 2019

He further said that 2019 FDI investment in Sohar and Salalah

free zones has reached USD 500 million this year, already surpassing

the total amount invested in 2018.

He pointed out that Oman Drydock Company reached a

record rate by servicing 19 ships in one day. He added that 52 million

sqm Khazaen Economic City is open for business with first

international tenants and 95% on-time deliveries from Oman Post and

85% positive customer feedback.

He expected that 50% year on year growth in the number of

passengers by Mwasalat is projected. Mwasalat also achieved a

historic 43,000 passengers in a single day.

Al-Hatmi also pointed out that the National Ferries Company

(NFC) cost reductions of RO 0.5 million annually over the last five

years while reaching 81% Omanization across the company.

Looking forward to the second half of 2019, al-Hatmi told

participants, Our strength as a Group comes from our integration –

sharing in each other’s progress to secure ASYAD and the Sultanate’s

position as a global logistics leader. The upcoming rollout of our Hub

Project, connecting freight from ship to last-mile shipment, is a great

example of how we are all working together to add new capabilities

across the value chain”.

He added, “Another priority for us is the digitisation of all

services and the adoption of new technologies such as Big Data AI, IoT

and blockchain into our operations ensuring that ASYAD offers one of

the most competitive, advanced, efficient and technologically-

integrated logistics solutions worldwide. Central to all our achievements

and plans are our employees, which is why we are implementing

Group-wide initiatives aimed at developing talent across ASYAD – with

an initial focus on high-potential (HiPo) employees”.

Source: Oman News Agency

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