- H1 FY24 EBITDA of USD 5.3 billion, up 47% YoY—highest ever half-year growth
- Core infrastructure businesses that provide high degree of predictability, stability and multi-decadal visibility contributed 86% of total EBITDA
- Trailing-Twelve-Month EBITDA of USD 8.6 billion, around 3x of FY19 EBITDA
- Enhanced liquidity position: highest ever Cash & Balances USD 5.5 billion
Adani Portfolio today released its half yearly financial performance update. The integrated business portfolio, which focusses on fortifying infrastructure development, has delivered a strong performance across all its businesses. The substantial cash flows from these businesses lay the foundation for sustained future growth.
“The incubation continues to be a success story with Airports, Green Hydrogen and other incubating assets emerging strongly and now contributing nearly 8% of the portfolio EBITDA,” said Jugeshinder (Robbie) Singh, Group CFO. “The Portfolio has withstood the test of time and has a track record of tremendous growth despite challenges, including macroeconomic factors.”
In the first half of fiscal year 2023/24, the Adani portfolio of companies demonstrated robust financial performance while further enhancing its strong credit profile. During the period, the portfolio level EBITDA stood at USD 5.3 billion, up 47% YoY. This growth outpaced the portfolio’s historical five-year Compound Annual Growth Rate (CAGR) trajectory of 26.3%. It is noteworthy that H1 FY24 EBITDA surpassed the full-year EBITDA of FY22. Additionally, Trailing Twelve Month EBITDA is notably close to three times FY19 EBITDA.
The growth was driven by an impressive performance of the core infrastructure businesses, which grew by 52% YoY to USD 4.5 Bn, contributing 86% of the total EBITDA. These businesses include the utility (Adani Green Energy, Adani Energy Solutions, Adani Power and Adani Total Gas), transport (Adani Ports & SEZ) and other infrastructure businesses (those being incubated by Adani Enterprises – green hydrogen integrated manufacturing, airports and roads). The expansion reflects the portfolio’s focused investment in infrastructure development, which is yielding significant results. AEL’s strategic initiatives to bolster its infrastructure portfolio are in line with the rising demand for sustainable and robust infrastructure.