What's Hot

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023

    Wafeq raises USD 3 million in seed round

    January 26, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      KarmSolar receives USD 3 million to develop Farafra Solar Grid

      January 11, 2023

      AD Ports Group reports strong growth

      January 3, 2023

      Hyosung Heavy Industries to start construction on South African energy storage project

      December 12, 2022
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Gold-for-oil: Ghana attempts to address forex pressures

      January 18, 2023

      AD Ports Group reports strong growth

      January 3, 2023

      “Made in Libya” to promote economy and trade

      December 30, 2022
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      Social investment platform InvestSky raises USD 3.4 million

      Business Entrepreneurship Finance January 12, 2023
      Recent

      Social investment platform InvestSky raises USD 3.4 million

      January 12, 2023

      African startups face challenges in 2023

      January 10, 2023

      MENA startups raised USD 125 million in December

      January 6, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business & Trade

    DP World announces H1 2022 profits of USD 884 million

    August 19, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    DP World
    DP World's container and cargo operations have strongly contributed to profits.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    DP World reports strong performance of feeder services and key acquisitions.

    DP World, Dubai’s major operator of ports and terminals, announced revenue growth of 60.4% in H1 2022, recording revenues of USD 7.93 billion. According to the company, the growth was achieved through acquisitions in key overseas markets and strong performance in feeder services. High margins in cargo operations also contributed strongly as the pandemic inflated prices.

    DP World’s profit over the period was USD 884 million, up 51.2% from the same period last year.

    “We are delighted to report a record set of first-half results with adjusted EBITDA growing 34.6 per cent and attributable earnings rising 51.8 per cent,” said Sultan Bin Sulayem, Chairman, and CEO. “This significant growth demonstrates that our strategy to focus on high margin cargo and to offer customized supply chain solutions will provide sustainable returns in the long term.”

    DP World: Raising capital

    “In recent months, we announced several transactions to raise approximately $9 billion. This strengthening of the balance-sheet allowed us to achieve our 2022 leverage target of below 4x net debt to EBITDA, and this fresh capital also provides us with the flexibility to accelerate investment in key growth markets whilst maintaining an investment grade rating,” said Bin Sulayem.

    Short-term outlook

    Ongoing international instability is of concern, along with the higher inflationary environment, currency fluctuations and continued issues with the global supply chain, according to the company. However, “DP World remains positive on medium to long-term outlook for global trade and is focused on delivering integrated supply chain solutions to cargo owners to drive growth and returns,” the company said in a statement.

    According to Bin Sulayem, “Cargo owners continue to respond positively to our end-to-end product offering and we are focused on integrating our recent logistics acquisitions to further drive revenue synergies. We continue to invest in high growth verticals and markets to offer compelling supply chain solutions.”

    Across H1 2022, gross throughput was 39.48 million TEUs, an increase of 2.3%, while within the Middle East, Europe and Africa port operations, the tally was 12.37 million TEUs, 2% increase.

    DP World: Continued investment

    DP World revealed that it intended to make investments across 2022 totaling USD 1.4 billion, including investments in its UAE operations, Jeddah, London Gateway, Sokhna (Egypt), Senegal and Callao (Peru).

    The company made a number of major investments and alliances over the first half of 2022, including a USD 5 billion investment by Canada’s CDPQ, an expanded partnership with India’s NIIF, the creation of an investment platform with BII Group ‘to accelerate investment in Africa’ and the company’s exit from Le Havre and a consolidation of the Eurofos terminal in France.

    African logistics

    DP World has recently been making investments in African logistics companies.

    DP World Dubai investments UAE
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleEgyptian fintech firm Lucky partners with Khazenly
    Next Article Group 42 to launch USD 10 billion fund to support emerging tech

    Related Posts

    Business Innovation Startups

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023
    Business Entrepreneurship Innovation

    Tabby raises USD 58 million in Series C round

    January 20, 2023
    Business & Trade Precious metals

    Gold-for-oil: Ghana attempts to address forex pressures

    January 18, 2023
    View 2 Comments

    2 Comments

    1. Pingback: Jafza reports a 19% growth on year-on-year trade

    2. Pingback: DP World to upgrade Bosaso Port in Somalia

    Leave A Reply Cancel Reply

    LATEST STORIES

    MENA startups raised almost USD 4 billion in 2022

    January 30, 2023

    Autochek acquires KIFAL Auto, expands to North Africa

    January 27, 2023

    Wafeq raises USD 3 million in seed round

    January 26, 2023

    African startups double debt financing

    January 25, 2023

    Matbakhi raises USD 2.3 million in pre-Seed round

    January 24, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.