The international ports and logistics titan reports year-on-year growth of 60.4%

DP World Limited has announced exceptionally strong financial results for the six months to June 30, 2022 with total revenue growing 60.4% year-on-year (equivalent to 20.1% on a like-for-like basis).

Revenues reached $7.932 billion, with key highlights including –

The company’s capital expenditure of $741 million ($687 million in 2021) was invested across the existing portfolio during the first half of the year, with capital expenditure guidance for 2022 up to $1.4 billion. Investments are planned into the UAE, Jeddah (Saudi Arabia), London Gateway (UK), Sokhna (Egypt), Senegal and Callao (Peru).

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, commented: “We are delighted to report a record set of first half results with adjusted EBITDA growing 34.6% and attributable earnings rising 51.8%. This significant growth demonstrates that our strategy to focus on high margin cargo and to offer customised supply chain solutions will provide sustainable returns in the long term.

“Encouragingly, cargo owners continue to respond positively to our end-to-end product offering and we are focused on integrating our recent logistics acquisitions to further drive revenue synergies. We continue to invest in high growth verticals and markets to offer compelling supply chain solutions, and by leveraging our best-in-class infrastructure across logistics, ports & terminals, economic zones, digital and marine services, DP World aims to lower inefficiencies and improve connectivity in key trade lanes.”

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