Its revenue grew by 16.3% and DP World delivered a profit attributable to owners of the company, before separately disclosed items, of $883m.<\/p>\n
\u201cWe are pleased to announce a strong set of financial results for 2015, reporting earnings growth of 31% year on year, driven by the acquisition of EZW and robust underlying growth,\u201d said Sultan Ahmed Bin Sulayem, DP World Group chairman and CEO.<\/p>\n
He added: \u201cThis financial performance has been achieved despite uncertain market conditions, which once again demonstrates the well diversified and resilient nature of our portfolio with its focus on high growth markets.\u201d<\/p>\n
The volume growth was ahead of the estimated industry growth (1.1%) sitting at 2.7%. The adjusted EDBITDA margin reaches a record high of 48.6% due to improved contribution from higher margin location and EZW acquisition.<\/p>\n
This strong adjusted EDBITDA growth resulted in a 30.7% increase in profit attributable to owners of DP world before separately disclosed items.<\/p>\n
Sultan Ahmed Bin Sulayem continued: \u201cIn 2015, we have invested approximately $5.4 billion with $4.0 billion in acquisitions and $1.4 billion in capex, and this investment leaves us well placed to capitalise on the significant medium to long-term growth potential of this industry.\u201d<\/p>\n
\u201cFurthermore, we are pleased to report strong progress with EZW with continued growth as we benefit from operating an integrated logistics hub.\u201d<\/p>\n
The report also commented on the continued investment in high quality long-term assets to drive long-term profitable growth.<\/p>\n
It noted that Mumbai in India and Yarmica in Turkey both added 800k teu of capacity each.<\/p>\n
DP World predicted that by the end of 2016 it will have approximately 86m teu of gross global capacity, which is an increase of around 15m teu in four years.<\/p>\n
It also expected capital expenditure this year to be between $1.2bn and $1.4bn with investment planned into Jebel Ali and Jebel Ali Freezone, UAE, London Gateway in the UK and Prince Rupert in Canada.<\/p>\n
\u201cWe remain on course to deliver over 100 million TEU of capacity by 2020, while maintaining the existing shape of our portfolio that has a 70% exposure to origin and destination cargo and 75% exposure to faster growing markets. This positioning should enable us to deliver attractive earnings growth and shareholder value over the long term,\u201d concluded Sultan Ahmed Bin Sulayem.<\/p>\n","protected":false},"excerpt":{"rendered":"
DP World has announced strong financial results from its global portfolio for the year ending 31 December 2015.<\/p>\n","protected":false},"author":8,"featured_media":2298,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[38],"tags":[],"sponsor":[],"class_list":["post-2297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulk-handling"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/posts\/2297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/comments?post=2297"}],"version-history":[{"count":1,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/posts\/2297\/revisions"}],"predecessor-version":[{"id":2299,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/posts\/2297\/revisions\/2299"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/media\/2298"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/media?parent=2297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/categories?post=2297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/tags?post=2297"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport-congress\/wp-json\/wp\/v2\/sponsor?post=2297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}