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DP World has announced a strong set of financial results for the year ended 31st December 2021. On a reported basis, revenue grew 26.3% to US$10,778 million, supported by acquisitions and new concessions including Angola, Unico and Transworld. Like-for-like revenue increased by 11.7% with like-for-like containerised revenue up 14.2%, driven by volume growth. Container revenue growth was higher than volume growth mainly due to strong storage and reefer monitoring revenue. Profitability on an EBITDA basis was up by 15.3% to US$3.8 billion, and the EBITDA margin for the year stood at 35.5%.
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, commented, “Importantly, growth was broad based across our terminals and logistics assets as we begin to drive synergies across our portfolio. This significant growth once again demonstrates that our strategy to deliver integrated supply chain solutions will drive sustainable long-term returns.”
He continued, “Overall, we are pleased with the 2021 performance and looking ahead to 2022, we expect our portfolio to continue to deliver growth. 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.”
