DP WORLD REPORTS 2.5% LIKE-FOR-LIKE VOLUME GROWTH

Tuesday, 25 October 2022, Dubai, UAE: DP World Limited handled 59.6 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in 9M2022, with gross container volumes increasing by 2.0% year-on-year on a reported basis and up 2.5% on a like-for-like basis^[1]. On a 3Q2022 basis, DP World handled 20.1 million TEU, up 1.5% year-on-year and up 2.1% on a like-for-like basis.

3Q2022 gross volume growth was mainly driven by Asia Pacific, Middle East & Africa, Americas, and Australia with a strong performance from Qingdao (China), ATI (Philippines), LCIT (Thailand), Jeddah (Saudi Arabia), Vancouver (Canada), Posorja (Ecuador), Santos (Brazil), and Australia. Jebel Ali (UAE) handled 3.5 million TEU in 3Q2022, up 2.0% year-on-year.

At a consolidated^[2] level, our terminals handled 34.6 million TEU, up 1.9% year-on-year and up 1.4% on a like-for-like-basis in 9M2022. On a 3Q2022 consolidated level, we handled 11.7 million TEU, increasing 2.7% on a reported basis and 1.5% year-on-year on a like-for-like^[3] basis.

Group Chairman and Chief Executive Officer Sultan Ahmed Bin Sulayem commented:

We report another robust set of throughput figures with nine-month volume growth of 2.5%, which is once again ahead of industry growth of 1.1%^[4]. As expected, growth rates have decelerated due to the more challenging market conditions, but global trade continues to remain resilient, and our portfolio is expected to continue to outperform the market. 

Growth in the third quarter was primarily driven by a solid performance across our Asia Pacific, Americas and Australia terminals. Encouragingly, our flagship port of Jebel Ali (UAE) continues to deliver robust volumes with growth of 2.0% year-on-year.

Looking ahead, the near-term outlook remains uncertain given the geopolitical environment, inflationary pressures and currency fluctuations but we remain positive on the medium to long term outlook for global trade.  Overall, given the solid nine-month volume performance, we expect to deliver an improved set of full year results.     

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Further Information

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 295 business units in 78 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 97,657 from 158 nationalities are committed to delivering unrivalled 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 digital technology to further broaden our vision to disrupt world trade and create the smartest, most efficient and innovative solutions, while ensuring a positive and sustainable impact on economies, societies and our planet.