DP World Limited revealed registering strong financial results for the year 2021, achieving a revenue growth of 26.3 percent to $10,778 million and adjusted EBITDA growth of 15.3 percent to $3,828 million, with adjusted EBITDA margin of 35.5 percent.
The revenue increase from $2,245 million to $10,778 million is supported by acquisitions and new concessions including Angola, Unico and Transworld, state news agency WAM reported.
Like-for-like revenue rose by 11.7 percent with like-for-like containerized revenue up 14.2 percent driven by volume growth, while containerized revenue growth is higher than volume growth mainly due to higher storage and reefer monitoring revenue.
Like-for-like non containerized revenue grew 9.5 percent with a strong performance from the Feedering business.
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said in this regard: "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."
