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Bond Market News

DP World Reports Profit Rise in 2021

March 11, 2022

Dubai’s DP World reported total attributable profits of  $896mn, a 6% YoY jump in 2021. Adjusted EBTIDA rose 15% to $3.8bn and revenues grew 26% to $10.8bn. Containerized revenues rose 14% YoY . DP World said that despite the continued pandemic related uncertainty, rising inflation, and geopolitics, the medium-to-long-term outlook remains positive. In 2021 and 2020, capex stood at $1.39bn and $1.07bn respectively. DP World said that it plans $1.4bn in capital expenditure in 2022, with investments planned in the UAE, Jeddah, London Gateway, Berbera (Somaliland), Sokhna (Egypt), Indonesia, and Callao (Peru).

DP World’s dollar bonds were stable – its 6% Perp was at 103.61, yielding 4.88%.

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