Middle East

DP World reports significant sales growth of 9.4% in 2021

DP World announced that it witnessed a significant increase in volume in 2021. In 2021, the company processed 77.9 million TEU of its entire global container terminal portfolio, increasing total container volume by 9.4% year-on-year. On a report basis, it increased by 8.9% on a similar basis.

Group Chairman and CEO Sultan Ahmed Bin Sulayem said the company has exceeded the industry’s average growth rate of 6.5%.

In the fourth quarter of 2021, DP World processed 19.6 million TEU, up 2.6% year-on-year on a reported basis and up 2.3% on a similar basis.

Total annual sales growth was broadly based, with India, Asia Pacific, the Middle East, Africa, Europe, Australia and the Americas being the region’s major growth drivers. At the asset level, Qingdao (China). Mumbai, Mundra, Chennai (India); Sokna (Egypt); London Gateway (UK); Caucedo (Dominican Republic); Callao (Peru) and Sydney (Australia) performed strongly. Jebel Ali of the United Arab Emirates processed 13.7 million TEU in 2021, an increase of 1.9% over the previous year.

At the integration level, DP World’s terminals processed 45.4 million TEUs in 2021, up 8.8% on a reported basis and up 8.1% year-on-year on a similar basis.

Sulayem has paid off for the company’s continued investment in quality assets in the right place and its strategy to provide cargo owners with an integrated supply chain solution.

He added: “As expected, growth slowed in the final quarter of 2021 as new Covid variants, inflation and supply chain bottlenecks impacted global growth, but the portfolio will continue into 2022. Expected to grow. This year has been encouraging, but the Covid-19 pandemic, continued supply chain turmoil, rising inflation and geopolitical uncertainties continue to recover the global economy. ..

“Overall, we are happy with our 2021 performance and continue to focus on improving profitability while managing growth capital investment. Strong volume performance puts us in the right position to improve our performance throughout the year. It will be maintained and will continue to focus on achieving the 2022 leverage target. “

https://gulfbusiness.com/dp-world-reports-strong-volume-growth-of-9-4-per-cent-in-2021/ DP World reports significant sales growth of 9.4% in 2021

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