DP World revenue soars 59% to reach AED62.89bn in 2022

DP World revenue soars 59% to reach AED62.89bn in 2022

DUBAI / WAM

DP World Limited has announced strong financial results for the year ended on December 31 2022. On a reported basis, revenue grew 58.9% to AED62,89 billion ($17,127 million).

The Earnings Before Interest, Taxes, Depreciation, and Amortisation (Ebitda) grew 31% to AED18,41 billion ($5,014 million) with adjusted Ebitda margin of 29.3%.

In a statement to Emirates News Agency (WAM), DP World announced that revenue increased by AED23,31 billion ($6,349 million) to AED62,89 billion ($17,127 million) — (Revenue growth of 58.9% on a reported basis).

The revenue growth of 58.9% was supported by acquisitions and like-for-like revenue growth driven by the solid performance of ports and terminals, and marine services.

The company reported that containerised revenue increased by 12.1%, driven by higher demand for ancillary container services.

Like-for-like non-containerised revenue is up 18.3%, with a strong performance from “Unifeeder” due to improved average freight rates.

DP World eported that Adjusted Ebitda increased by 31% to AED18,41 billion ($5,014 million) on strong revenue growth, and Ebitda margin for the year stood at 29.3%. Like-for-like adjusted Ebitda margin stood at 37.2%.

The broadening of strategic partnerships strengthened balance sheet and drove long-term value in addition to broadening of partnerships and monetisations to rose over AED29,38