DP World announces revenue growth of 13.2% in 2017

DP World announces revenue growth of 13.2% in 2017
Profit for the period attributable to owners of the company stood at US$1,209mn
Published: 15 March 2018 - 8 a.m.
By: Namitha Madhu

DP World had announced revenue growth of 13.2% in 2017, brought about by strong volume growth across its three administrative and operational regions: Australia and Americas; Middle East, Europe and Africa; and Asia Pacific and Indian Subcontinent.

According to a press statement, like-for-like revenue increased by 6% driven by a 6.9% increase in total containerized revenue.

Like-for-like containerized revenue per TEU (twenty-foot equivalent unit) grew 0.7% and total revenue per TEU remained broadly flat (-0.2%).

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 9.1% and stood at US$2,469mn and adjusted EBITDA at a margin of 52.4%

DP World had announced revenue growth of 13.2% in 2017, brought about by strong volume growth across its three administrative and operational regions

Profit for the period attributable to owners of the company stood at US$1,209mn.

Total dividend per share increased by 7.9% to 41 US cents, while ordinary dividend increased by 7.9% to 41 US cents to reflect earnings growth in 2017.

Sultan Ahmed Bin Sulayem, CEO and chairman of DP World Group, said, “We are pleased to announce another set of strong financial results in 2017, as we again delivered earnings in excess of US$1bn and above 50% EBITDA margin for the full year. Our portfolio has seen strong performance across all three regions benefitting from the improved trading environment and market share gains.

“In recent years, we have leveraged on our in-house expertise to extend our core business into port-related, maritime, transportation and logistics sectors with the objective of diversifying our revenue base and connecting directly with the owners of cargo and aggregators of demand to remove inefficiencies in trade, improve the quality of our earnings and drive returns. Going forward, we expect this trend to continue as we seek opportunities in complementary sectors in the global supply chain and also make use of new technology and data solutions to provide better service to our customers.

“In 2017, we invested US$1,090mn of capital expenditure across our portfolio in markets with strong demand and supply dynamics, and we will maintain capital expenditure discipline by bringing capacity in line with demand.

“The Board of DP World recommends increasing the dividend by 7.9% to US$340.3mn at 41.0 US cents per share. The board is confident of the company’s ability to continue to generate cash and support our future growth whilst maintaining a consistent dividend

Get more details here.

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