PSA International posts revenue of $4.6 billion in 2021 – The Medi Telegraph

Terminal operator PSA International has released its operating and financial results for 2021. The company reported revenue of $4.6 billion for last year, an increase of 11.7% from $4.1 billion in 2020. This was mainly due to higher volumes of containers and storage revenue. Group operating profit was $1.8 billion, up 13.7% from $16 billion in 2020.

This performance led to a net profit of $1.3 billion in 2021, an increase of 18.2% over the previous year. In terms of container movements, PSA International handled a total of 91.5 million TEUs in 2021, an increase of 5.6% compared to the previous year. PSA Singapore delivered 37.2 million TEUs, an increase of 1.6% over 2020, while PSA terminals outside Singapore delivered a total throughput of 54.3 million TEUs, an increase of 8.4% year-over-year increase: “PSA’s global team has shown its spirit and tenacity through a year of supply chain shocks and COVID-related start-ups and shutdowns – a said Peter Voser, president of the PSA International group. – Together with our customers and partners, we have maintained supply chains to the best of our abilities. This helped PSA deliver a record performance for the year, even as we continue our efforts to create positive momentum on climate change through our supply chain sustainability initiatives and investments. As we navigate the dynamic forces of change in the new normal, we will continue to develop our workforce and talent, strengthen our competitive advantage, and focus on creating long-term value for our stakeholders. .

Tan Chong Meng, CEO of PSA International Group, added: “Amid widespread supply chain disruptions and congestion in 2021, coupled with an uneven recovery in global trade and demand, I am grateful to our management, staff and unions who have worked without as a team and in close partnership with all our stakeholders to keep supply chains secure and goods flowing through our network. As a global port operator and freight solutions provider, PSA is well placed to accelerate the transition towards sustainable trade. We are strengthening our physical, technological and digital capabilities so that we can deliver more innovative freight solutions and enable agile, resilient and sustainable supply chains. In our drive to realize the vision of the Internet of logistics, we will continue to collaborate with like-minded partners, customers and suppliers. are. Alone, we each have the potential to succeed. Together, we will have even more opportunities to plan supply chain transformation for the greater good and amplify our collective positive impact for all of our stakeholders.

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