DP WORLD REPORTS AHEAD OF MARKET VOLUME GROWTH

Monday, 6^th February 2023, Dubai, UAE: DP World Limited handled 79.0 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in full year 2022, with gross container volumes increasing by 1.4% year-on-year on a reported basis and up 2.8% on a like-for-like basis. On a 4Q2022 basis, DP World handled 19.5 million TEU, up 2.4% on a like-for-like basis.

2022 gross volume growth was broad based with Asia Pacific, Middle East & Africa, Australia, and Americas regions all delivering like-for-like growth. At an asset level, Jebel Ali (UAE), Jeddah (Saudi Arabia), Angola (Angola), Sokhna (Egypt), London Gateway (UK), Constanta (Romania), Caucedo (Dominican Republic), Posorja (Ecuador), DP World Santos (Brazil) and all our ports in Australia (Brisbane, Sydney, Fremantle and Melbourne) delivered a solid performance.

Jebel Ali (UAE) handled 14.0 million TEU in 2022, up 1.7% year-on-year.

At a consolidated level, our terminals handled 46.1 million TEU during 2022, increasing 1.5% on a reported basis and up 0.7% year-on-year on a like-for-like basis.

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

We are delighted to report another solid volume performance with like-for-like growth of 2.8% in 2022, which is once again ahead of industry forecast of a marginal decline of -0.5%. This outperformance continues to demonstrate that we are in the right locations and our strategy to offer integrated supply chain solutions to beneficial cargo owners is bearing fruit.  

Growth was driven by Asia Pacific, Americas, and Australia region. Encouragingly, Jebel Ali's (UAE) high margin origin & destination cargo grew by 8.6% with overall volume growth steady at 1.7% for the year.

As expected, growth rates moderated in the final quarter of 2022 due to the more challenging economic environment. Looking ahead to 2023, we expect our portfolio to continue to deliver growth but the outlook remains somewhat uncertain due to rising inflation, higher interest rates and geopolitical uncertainty.

Overall, we are pleased with the business performance in 2022 and remain focused on growing profitability while managing growth capex. The solid volume performance leaves us well placed 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 more than 300 business units in 76 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 100,000 from 162 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.