DP World announces its financial results for 2020

Dubai Ports World Group announced today its financial results for the year ending on December 31, 2020, and based on the announced reports, revenues increased by 11.0% to reach about $ 8.53 billion (about 31 billion dirhams), and adjusted profits before deduction of interest, taxes, depreciation and amortization increased by 11%. 0.4% achieved $ 3.3 billion (more than 12 billion dirhams), with adjusted EBITDA margin of 38.9%.

The net profit of the group by the end of the fiscal year 2020 was about 980 million dollars (about 3.6 billion dirhams), and cash from operating activities increased by 17.8% to 2.9 billion dollars in 2020 (about 10.6 billion dirhams).

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, said, “We are delighted that our portfolio has performed better than expected, in an unprecedented year like this, to achieve steady volumes, EBITDA and cash flow growth. Free, which is a remarkable achievement. "

He added, "DP World Group has outperformed once again in the sector, which indicates that we are in the right locations, and the focus will continue to be on origin and destination goods in order to achieve the right balance between growth and flexibility."

He continued, “We have continued to make progress in our strategy to enable trade and provide integrated supply chain services solutions to cargo owners, and we have focused our efforts on building integrated and comprehensive capabilities for many sectors. We were also greatly pleased with the positive feedback from cargo owners, and we are currently continuing to provide efficient and smart solutions to our customers. Which bodes well for the future. "

He stated, “Looking to the future, we will continue our selective approach to new investments and focus on integrating recent acquisitions by the group to enhance synergies and contain costs to protect profitability and manage capital expenditures for growth to maintain cash flow. We remain firmly committed to our 2022 leverage goals. (“DP World” and “Global Ports and Free Zones”) to be less than 4 times the net debt to EBITDA (before adopting IFRS 16).

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