The world’s largest port operator PSA International has achieved a revenue of approximately US$4.7 billion in 2021, representing a rise of 11.7% over 2020, which was mainly driven by higher throughput and storage revenue.
During the same period, the group’s net profit surpassed US$1.38 billion, which translates to a growth of 18.2% year-on-year, primarily attributable to an increase in other income and lower financing costs.
Meanwhile, PSA’s balance sheet remains strong with a gross debt equity ratio of 0.40 times at the close of 2021, according to the group’s data.
“The PSA global team has shown its spirit and tenacity throughout a year of supply chain shocks and Covid-related starts and stops,” commented Peter Voser, group’s chairman.
Furthermore, during 2021, the Singaporean port operator handled 91.5 million TEUs in its terminals globally, representing an increase of 5.6% from the previous year.
“Amidst a backdrop of widespread supply chain disruptions and congestions in 2021, coupled with uneven recovery in global trade and demand, I am grateful to our Management, Staff and Unions who worked tirelessly as a team and in close partnership with all our stakeholders to keep supply chains safe and cargo moving across our network,” stated Tan Chong Meng, CEO of PSA International.
