Dubai-based DP World saw its gross container volumes across its global portfolio increase by 10.2 percent on a reported basis in the first quarter of this year compared to the same period in 2020, with a 9.6 percent like-for-like increase.
Overall the company handled 18.9 million 20-foot equivalent units (TEU), in what was described in a statement as a “strong start to the year”, particularly at terminals in India and Australia.
DP World’s Jebel Ali terminal handled 3.5 million TEU in the first three months of the year, up 2.6 percent year-on-year.
Group chairman and chief executive officer Sultan Ahmed Bin Sulayem said: “We are delighted with the strong start to 2021 with our portfolio delivering 10.2 percent volume growth in Q121, which is once-again ahead of industry estimated growth of 8.9 percent. This performance is ahead of expectations and illustrates the resilience of the global container industry, and DP World’s continued ability to outperform the market.”
He added: “Overall, the strong start to the year leaves us well placed to deliver an improved performance in 2021, and despite the more benign trading environment, we remain focused on containing costs to grow profitability, managing growth capex and continued execution of our strategy of delivering supply chain solutions to beneficial cargo owners.”
Sultan Ahmed Bin Sulayem, Group chairman and chief executive officer of DP World
In its most recent financial results, revealed in March, DP World group chairman and CEO, Sultan Ahmed Bin Sulayem, admitted the business “performed better than expected” in 2020 despite reporting a 27 percent drop in profits from the previous year.
The global giant saw revenues increase 11 percent to $8.533 billion in 2020, supported by acquisitions and full year contribution from Topaz Energy & Marine and P&O Ferries, while adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 0.4 percent to $3.319 billion.
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