Press Release Paris, November 15, 2023 – 15h00
COFICERT announces that it has validated the continued compliance of the
AD Ports Group (parent company of the Spanish group Noatum) with the international financial quality standard
MSI 20000. AD Ports thus continues its commitments in favor of a culture of good practices in terms of governance, financial rigor and transparency. As a reminder, the Abu Dhabi Ports Group, listed on the Abu Dhabi Stock Exchange (ADX: ADPORTS), contributes at the extent of 21% to the growth of Abu Dhabi, excluding the oil sector. More recently, the AD Ports group expanded its network by taking over all the activities of the Spanish group Noatum (€1,800 million turnover in 2021) in November 2022, now giving it a presence on European territory. This strategic acquisition significantly expands AD Ports' global footprint and positions the group among the main structures in the port management, industrial zones and logistics sector. The AD Ports group was awarded MSI 20000 certification in 2021 following a complete and in-depth assessment process focusing on its financial fundamentals, both in terms of solidity, but also financial performance. The certification was issued by the French certification body COFICERT. Since then, two surveillance audits have been carried out on an annual basis to ensure the group's continued compliance with the MSI 20000 standard. These assessments have made it possible to confirm the quality of the group's governance, a sign of its capacity to resilience and a healthy financial situation; this, despite a context of economic uncertainties, in view of the latest global crises which have followed one another. By validating its compliance, AD Ports is continuing the process already underway in terms of continuous improvement financial management. A delegation from COFICERT France traveled to Abu Dhabi to meet the management of AD Ports. The visit was part of the French organization’s annual tour in the MENA region; under the supervision of the
IGSF (International Group for Sustainable Finance), which governs the MSI 20000 Standard. It is reminded that COFICERT intervenes in the Middle East, with the technical support of
TAG-Consulting in its capacity as the technical exclusive partner for the MSI 20000 standard in the Middle East.
AD Ports is a world-renowned port, logistics and commercial group which has developed over the years to become a leading player in trade, industrialization and economic diversification. Established by decree of the Emir and owned by ADQ, one of the region's largest holding companies with a broad portfolio of major businesses spanning key sectors of Abu Dhabi's diversified economy. In 2022, AD Ports was listed on the Abu Dhabi Stock Exchange (ADX). AD Ports has raised the equivalent of $1 billion (AED 4 billion) in the primary market in its IPO, after also successfully issuing a USD 1 billion bond of a lifespan of 10 years as part of a Euro Medium Term Note Program with dual listing on the London Stock Exchange (LSE) and the Abu Dhabi Stock Exchange (ADX).
COFICERT is a French certification body, specialized in financial and non-financial certifications, operating in nearly 40 countries over 3 continents. COFICERT operates historically with, and alongside, international certification and standardization bodies. The organization brings together experts in governance, financial crime and sustainable finance. COFICERT certifies on the following topics : good financial governance (
MSI 20000), social responsibility (
ESG 1000), the fight against money laundering and the financing of terrorism (
AML 30000) and the fight against corruption (
ISO 37001).
TALAL ABU-GHAZALEH & CO. CONSULTING (TAG-CONSULT) operates out of the Talal Abu-Ghazaleh Global offices, which has more than 100 offices in the Middle East, Africa, and the world and representative offices spread in Asia, Europe, North America, and Latin America. It also operates through a network of experts and specialists to offer the best management consulting services to local and international companies and institutions, in accordance with the best practices in this field.
MSI 20000 is the international standard dedicated to good financial governance of companies and institutions. Certification is an indicator relating to the quality of the financial situation of economic and financial entities, to be promoted among its stakeholders. Born in Europe in the aftermath of the subprime crisis, the MSI 20000 certification is issued by international certification bodies. The standard was established by the MSI Observatory and is governed internationally by the IGSF (International Group for Sustainable Finance).
| | COFICERT Press contact Héloïse Gibert +33 (0)1 40 17 05 22 heloise.gibert@coficert.org | | AELIUM Press contact Valentine Boivin +33 (0)1 75 77 54 65 info@aelium.fr |
