DP World reports strong 2024 growth

Growth was primarily driven by improved performance in ports and terminals, along with contributions from new acquisitions and concessions.

“These results demonstrate the benefits of our strategic focus on high-margin cargo, end-to-end integrated supply chain solutions and disciplined cost optimisation,” said DP World group chair and chief executive, Sultan Ahmed bin Sulayem.

“This strategy is positioning DP World for sustained long-term growth and value creation. By enhancing efficiency, expanding our capabilities and deepening partnerships, we are building a resilient business, well-equipped to capitalise on new opportunities as global trade evolves.”

The company achieved a 9.7% increase in revenue, reaching US$20.0 billion, while adjusted EBITDA grew by 6.7% to US$5.5 billion, reflecting an adjusted EBITDA margin of 27.2%.

The company reported a 13.9% increase in revenue per teu on a like-for-like basis, with strong growth from the Middle East and the Americas. Despite higher finance costs, DP World’s profit for the year was US$1.5 billion, though it marked a slight 2.0% decrease compared to the previous year.

DP World’s capacity exceeded 100 million teu, thanks to selective infrastructure investments in key growth markets. Capital expenditure for the year amounted to US$2.2 billion, with a planned budget of US$2.5 billion for 2025, focusing on expansions in the UAE, UK, India, Senegal and Saudi Arabia.

The group also emphasised its commitment to sustainability, issuing a US$100 million blue bond and becoming the first logistics company in its region to have its decarbonisation targets validated by the Science Based Targets initiative. Additionally, the company exceeded its carbon emissions reduction targets, sourcing nearly 65% of its electricity from renewable energy.

Despite global uncertainties, DP World says it is well-positioned for long-term growth, focusing on customised supply chain solutions and integrated infrastructure.