DP World Delivers Strong 2013 Results
Global marine terminal operator DP World today announced strong financial results from its global portfolio of marine terminals for the twelve months to 31 December 2013, delivering profit attributable to owners of the Company before separately disclosed items of $604 million, 26.6% ahead of last year on a like-for-like basis.
“Our results reflect a very strong performance from those terminals which were operational within our portfolio for the duration of the year. Excluding acquisitions, disposals and monetisations, new capacity and currency fluctuations, revenue growth was 3.6%; adjusted EBITDA growth was 9.0%, our adjusted EBITDA margin rose to 47.6% and EPS was 26.6% ahead of last year,” DP World announced.
DP World Group Chief Executive, Mohammed Sharaf commented: “We remain on track and on budget with respect to our 2012-2014 $3.7 billion capital expenditure programme. During 2013, we opened our new state of the art facility at London Gateway (UK) and Embraport (Brazil), while adding 1 million TEU of much needed new capacity in the UAE. We are encouraged by the performance of our new operations and in 2014 we look forward to adding further capacity at Jebel Ali (UAE) and Rotterdam (Netherlands). The opening of Jebel Ali’s Terminal 3 will add another 4 million TEU and take total capacity to 19 million TEU.”
Press Release, March 20, 2014