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Ports : DP World reports strong 1H2021 financial results

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “We are delighted with the strong set of first-half results with adjusted EBITDA growing 18.2% and attributable earnings rising 51.9%. This significant growth once again demonstrates that we are in the right locations and a focus on the origin and destination cargo will continue to deliver the right balance between growth and resilience.

In recent years we have seen cargo owners respond positively to our integrated end-to-end product offering and we aim to continue with our drive to enable trade. Our recently announced acquisitions of Imperial Logistics and syncreon 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.

“Importantly, we continue to make positive progress with our capital recycling program and this combined with the strong operational performance, leaves us well-positioned to deliver on our 2022 combined (DP World and PFZW) leverage target of less than 4x Net Debt to adjusted EBITDA (Pre IFRS16).

“Overall, the near-term outlook remains positive, and while we are mindful that the Covid-19 pandemic and geopolitical uncertainty could once again disrupt the global economic recovery, we remain positive on the medium to long-term fundamentals of the industry and DP Worlds ability to continue to deliver sustainable returns“.

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About DP World

We are the leading provider of worldwide smart end-to-end supply chain logistics, enabling the flow of trade across the globe. Our comprehensive range of products and services covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks as well as technology-driven customer solutions.
We deliver these services through an interconnected global network of 181 business units in 64 countries across six continents, with a significant presence both in high-growth and mature markets. Wherever we operate, we integrate sustainability and responsible corporate citizenship into our activities, striving for a positive contribution to the economies and communities where we live and work.
Our dedicated, diverse, and professional team of more than 56,000 employees from 140 nationalities is committed to delivering unrivaled value to our customers and partners. We do this by focusing on mutually beneficial relationships – with governments, shippers, traders, and other stakeholders along the global supply chain – relationships built on a foundation of mutual trust and enduring partnership.
We think ahead, anticipate change and deploy industry-leading technology to broaden our vision of more efficient, transparent, and resilient world trade. We achieve this by leveraging disruptive innovation to create the smartest and most effective logistics solutions while ensuring a positive and sustainable impact on economies, societies, and our planet.

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