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            april 25, 2019

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Indiaexportnews.com

DP World profit up 13.7pc as revenues rise 19.8pc

  20.03.2019    

Dubai global port operator DP World increased 2018 operating profit (EBITDA) 13.7 per cent year on year to US$2.81 billion, drawn on revenues of $5.65 billion, which increased 19.8 per cent.
Growth in revenues was attributed to acquisitions and a small increase in container volumes.
Container volume stood at 71.42 million TEU, which is 1.9 per cent on 2017. Box volumes in the United Arab Emirates were 15 million TEU in 2018, down 2.7 per cent year on year.
"Our Europe and Americas portfolio saw strong growth with continued ramp-up in London Gateway (UK), Yarimca (Turkey) and Prince Rupert (Canada), while performance in Africa remains robust driven by Dakar (Senegal) and Sokhna (Egypt)," said chairman and CEO Sultan Ahmed Bin Sulayem.
"In the UAE, the softer volumes were due to the loss of low-margin throughput, where we remain focused on high margin cargo and maintaining profitability," he said.
On a gross volume basis, Asia Pacific and India handled 32.9 million TEU, up 3.2 per cent on the previous year. DP World terminals in Europe, the Middle East and Africa, handled 29.46 million TEU, up 3.1 per cent on the 2017 figure. Terminals in the Americas and Australia handled 9.04 million TEU, which was 0.9 per cent up on the previous year.



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