DP World Sees Strong Volume Growth of 11.9% in First 9 Months of 2021

DP World Sees Strong Volume Growth of 11.9% in First 9 Months of 2021

58.4 million TEU handled across global portfolio of container terminals

DP World Limited handled 58.4 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in first 9 months of 2021, with gross container volumes increasing by 11.9% year-on-year on a reported basis and up 11.4% on a like-for-like basis.

On a Q3 2021 basis, DP World handled 19.8 million TEU, up 8.1% year-on-year and up 7.9% on a like-for-like basis.

Q3 2021 gross volume growth was mainly driven by Asia Pacific, India, Middle East & Africa and Australia with a strong performance from Qingdao (China), Mumbai (India) and Sokhna (Egypt).

Jebel Ali (UAE) handled 3.4 million TEU in Q3 2021, up 0.6% year-on-year.

At a consolidated level, our terminals handled 11.4 million TEU during Q3 2021, increasing 7.6% on a reported basis and 7.2% 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 strong quarter for DP World with throughput growth of 8.1%, which is once again ahead of industry growth of 6.4%. This strong performance illustrates the resilience of the global container industry, and DP World's continued ability to outperform the market.

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"Encouragingly, all our regions continue to deliver volume growth with India being a key driver, and we continue to make solid progress on our strategy to deliver supply chain solutions to beneficial cargo owners.

"The near-term outlook remains positive, but we do expect growth rates to moderate in the final quarter. Furthermore, we remain mindful that the Covid-19 pandemic, continued supply chain disruptions, and geopolitical uncertainty could continue to hinder global economic recovery.

"Overall, we are pleased with the year-to-date performance and remain focused on growing profitability while managing growth capex. The strong nine-month volumes leave us well placed to deliver an improved set of full year results and we remain focused on delivering our 2022 targets."

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