DP WORLD REPORTS STRONG START TO 2021 WITH 10% VOLUME GROWTH IN 1Q

Dubai, UAE Thursday 22 April 2021: DP World Limited handled 18.9 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals in the first quarter of 2021, with gross container volumes increasing by 10.2% year-on-year on a reported basis and up 9.6% on a like-for-like basis[1].

The first quarter witnessed a strong start to the year and all three regions delivered growth, especially our terminals in India and Australia. Encouragingly, the stabilization in Jebel Ali (UAE) continues with the terminal handling 3.5 million TEU in 1Q2021, up 2.6% year-on-year.

At a consolidated[2] level, our terminals handled 11.2 million TEU during the first quarter of 2021, increasing 8.2% on a reported basis and up 7.0% year-on-year on a like-for-like[3] basis.

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

We are delighted with the strong start to 2021 with our portfolio delivering 10.2% volume growth in 1Q21, which is once-again ahead of industry estimated growth of 8.9%[4]. 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. 

Trade volume growth has accelerated and our strategy of providing integrated supply chain solutions to beneficial cargo owners has allowed us to benefit from this recovery. Encouragingly, all our 3 regions delivered robust growth, with India and Australia being the key drivers, while our flagship port of Jebel Ali (UAE) saw volumes grow at 2.6%.

Looking ahead, while the near-term trading environment is positive, we remain mindful that the economic recovery can be disrupted by the Covid-19 pandemic, geopolitical uncertainty in some parts of the world and on-going trade war.

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.

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Investor Enquiries:

Redwan Ahmed                                         Maryam AlZaabi

DP World Limited                                       DP World Limited

Mobile: +971 50 5541557                           Mobile: +971 54 5828065

Direct: +971 4 8080842                              Direct: +971 4 8080877

Redwan.Ahmed@dpworld.com                     MaryamAli.AlZaabi@dpworld.com

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 136 business units in 61 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 53,360 employees from 137 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.