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DP World global volumes up 9.4% in 2021

Photo: DP World DP World London Gateway aerial view
Dubai’s DP World saw a 9.4% growth in its global container volumes last year as profits jumped 15.3%.

Releasing its financial results the company said on a reported basis, revenue grew 26.3% to $10,78bn and adjusted EBITDA grew 15.3% to $3.83bn with adjusted EBITDA margin of 35.5%.

Gross throughout last year was 77.93m teus, a 9.4% increase on 2020.

Container-generated revenues came to $4.62bn for 2021, up by 18.7%. The containerised revenue growth was higher than volume gains “mainly due to higher storage and reefer monitoring revenue”. It was on the non-containerised revenue creation that DP World recorded a substantial spike, by 32.7% to $6.1bn.

Revenue growth supported by acquisitions and new concessions including Angola, Unico and Transworld.  

“We are delighted to report these strong set of results with adjusted EBITDA growing by $0.5 billion to a new record of $3.8 billion. 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,” said DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem,

“Furthermore, 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.

“Overall, we are pleased with the 2021 performance and looking ahead to 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.”