Backed by acquisitions and strong performance of ports, container terminals and marine services

DP World's revenue jumps 59% to AED 62.89 billion in 2022

  • The Group's cash flow resulting from operations increased by 20.6% to AED 16.34 billion in 2022. WAM

  • Sultan bin Sulayem: "The strong performance of 2022 exceeded expectations, and we remain optimistic about the performance of the sector in the medium and long term."


DP World Group reported strong financial results for the year ended 31 December 2022, with total revenue growing 58.9% year-on-year to AED 62.89 billion.

DP World said in a statement that the increase in revenue of AED 23.31 billion on a stated basis was supported by acquisitions, while revenue growth on a like-for-like basis was driven by the strong performance of ports, container terminals and marine services.

Revenue from container-related businesses increased by 12.1%, driven by increased demand for container support services, and non-container revenue on a like-for-like basis increased by 18.3%, with a strong performance for Unifeeder, due to improved average freight rates.


Adjusted EBITDA increased by 31% to AED 18.41 billion, amid strong revenue growth.

The adjusted EBITDA margin was 29.3% last year, while the adjusted EBITDA margin was 37.2% on a like-for-like basis.


The Group stated that its most prominent results were the strong cash generation performance and a stronger balance sheet on asset monetization, as the liquidity generated by operations increased by 20.6%, to record AED 16.34 billion in 2022, compared to AED 13.55 billion in 2021.

Prior to the adoption of IFRS, the debt ratio (net debt to adjusted earnings before interest, tax, depreciation and amortization ratio on an annual basis) declined to 2.7x due to improved profitability and lower net debt.

Record results

Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, said: "We are delighted to announce record results for DP World in 2022, with adjusted earnings before interest, tax, depreciation and amortization growing by 31% to exceed AED 18.41 billion.

"This significant growth demonstrates that our strategy of focusing on high-margin goods and delivering integrated supply chain solutions will continue to deliver sustainable returns over the long term."


Bin Sulayem continued: "During 2022, we focused on strengthening the company's balance sheet, raising more than AED 29.38 billion, through the liquidation of some of our assets, as the new partnerships will allow the Group to continue to drive growth in our portfolio, and the new capital will provide the Group with the flexibility and efficiency to invest in key growth markets, while maintaining a strong investment rating."

"The strong performance of 2022 exceeded expectations, and the beginning of 2023 was encouraging for us, and we remain optimistic about the sector's medium- and long-term performance, as well as DP World's ability to continue to deliver sustainable returns."


DP World Group invested capital expenditures of AED 6.29 billion last year, compared to AED 5.11 billion in 2021, across its existing portfolio.

Capital expenditure forecasts for 2023 are AED 6.24 billion and include planned investments in the UAE, Jeddah, Saudi Arabia, London Gateway Port in the United Kingdom, Dakar Port in Senegal, Banana Port in Congo, Callao Port in Peru and DP World Logistics in South Africa.

31 %

Adjusted profit growth to AED 18.4 billion.