Revenue grew 26.3% to $10.77 billion
DB World generates $3.8 billion in EBIT-adjusted
DB World Limited announced strong financial results for the year ended December 31, 2021.
In a statement, it revealed a growth in revenues by 26.3% to reach $ 10,778 billion, at a time when adjusted earnings before interest, taxes, depreciation and amortization increased by 15.3% to reach $ 3,828 billion, with the EBITDA margin reaching 35.5 %.
financial results
According to the financial results, the value of revenues increased by about 2,245 billion dollars to reach 10,778 billion dollars (a growth of 26.3% according to announced reports).
Revenue was driven by new acquisitions and franchise agreements that included Angola, UNICO and Transworld, and like-for-like revenue increased by 11.7%, with like-for-like containerized revenue increasing. 14.2%, driven by volume growth.
In turn, like-for-like bulk revenue increased 9.5% with strong performance from the Nutrition business.
Effective generation of liquidity
According to the results, the cash generated from operating operations increased by 27.3% to a record level of $3.692 billion in 2021, compared to $2.901 billion in 2020.
Outstanding rating
DB World confirmed that it still enjoys an outstanding credit rating, as Fitch kept the company's investment rating at "BBB", while Moody's maintained its rating at "Baa3", pointing out that it adheres to a strong investment rating on medium range.
operational performance
“DB World” stated that container terminals continued to open their doors to serve cargo owners, despite the challenges caused by the “Covid 19” pandemic, noting that it provided strong operational performance, while maintaining the productivity of the berths, despite the low reliability of the shipping schedule. .
The company explained that it has implemented acquisitions to achieve value-added capabilities, invested in high-growth markets, and established long-term relationships with merchandise owners, noting the acquisition of Syncreon and Imperial Logistics.
positive outlook
“DB World” stated that the effects of the pandemic, the high level of inflation, and geopolitical tensions still cause some uncertainty, but the expectations in the medium to long term are still positive.
wide growth
Sultan Ahmed Bin Sulayem, Chairman and CEO of DB World, said: “We are pleased to report these strong results, with EBITDA-adjusted growth of $0.5 billion, to a new record of $3.8 billion. .
Most importantly, growth has been broad-based across the group’s container terminals and logistics assets, as we begin to build synergies across our portfolio.”
“This significant growth once again confirms that our strategy to deliver integrated supply chain solutions will deliver long-term sustainable returns,” he added.
Bin Sulayem continued: “Overall, we are pleased with the performance of the business in 2021, and we look forward to our portfolio continuing to grow in 2022.
Although we have an encouraging start to 2022, we remain aware that geopolitical uncertainty, the COVID-19 pandemic, ongoing supply chain disruptions and rising inflation could once again impede the global economic recovery.”
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