Dubai, UAE — Dubai ports operator DP World Thursday announced a 58.9 percent increase in revenue to AED62.89 billion ($17.12 billion) and a 31 percent rise in EBITDA to AED18.41 billion ($5 billion), with adjusted EBITDA margin of 29.3 percent.
In a statement to WAM, DP World announced that revenue increased by AED23.31 billion in 2022, compared to 2021, supported by acquisitions and like-for-like revenue growth driven by better performance of ports and terminals and marine services.
The partnerships with Caisse de dépôt et placement du Québe (CDPQ) and Hassana Investment Company (Hassana) partnerships in UAE raises AED27,17 billion ($7.4 billion) to help capture the growth potential of the wider region, the statement said.
It added that cash generated from operating activities increased by 20.6 percent to a record AED16.34 billion ($4.45 billion) in 2022, compared to AED13.55 billion in 2021 ($3.69 billion).