DP World has seen strong financial results for the last year with the group chairman and CEO, Sultan Ahmed Bin Sulayem, saying it is important that the growth was broad-based across the company’s terminals and logistics assets.
DP World has achieved significant year-on-year increases in revenues and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of 26.3% and 15.3% respectively. The company’s revenues surpassed US$10.7 billion, while EBITDA reached US$3.8 billion.
“We are delighted to report this strong set of results with adjusted EBITDA growing by US$0.5 billion to a new record of US$3.8 billion,” pointed out Sultan Ahmed Bin Sulayem.
The UAE-headquartered operator said that the revenue growth was driven by acquisitions and new concessions, including Angola, Unico and Transworld, while the group’s containerised revenue growth is higher than volume growth mainly due to higher storage and reefer monitoring revenue.
Meanwhile, DP World has already announced that its total container volumes were 77.9 million TEU in 2021, which translates to an increase of 9.4% compared to the previous year’s throughput.
The company remains optimistic for the current year, as it has already seen an encouraging start of 2022. “We expect our portfolio to continue to deliver growth and, while the year has started encouragingly, we remain mindful that the geopolitical uncertainty, Covid-19 pandemic, continued supply chain disruptions and rising inflation could hinder the global economic recovery,” stated Sultan Ahmed Bin Sulayem.
In addition, DP World’s boss commented, “Our recently announced acquisition of Imperial Logistics and syncreon will bring value-add capabilities in high growth verticals and markets, which will allow us to offer a more compelling set of supply chain solutions. By leveraging our best-in-class infrastructure across inland logistics, ports & terminals, economic zones and marine logistics network, DP World aims to lower inefficiencies and provide improved connectivity in fast growing trade lanes such as Asia, Middle East & Africa.”
