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DP World Announces Strong 2017 Financials

DP World Announces Strong 2017 Financials

DP World has announced another set of strong financial results in 2017, achieving earnings of more than $1 billion and an EBITA of more than 50% for the full year.

On a like-for-like basis, the Dubai-based terminal operator’s earnings grew at 15.1% ahead of revenue growth of 6.0% and EBITDA growth of 8%.

DP World’s volumes have also continued to grow ahead of the market.

Gross volumes grew 10.1% year-on-year, ahead of Drewry Maritime’s full year market estimate of 6%.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, commented: “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.

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“In 201 7, we invested $1.09 billion 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.

“We have made an encouraging start to the year with current trading in line with expectations.

“As we look ahead into 2018, geopolitical headwinds in some regions pose a challenge but we expect to continue to grow ahead of the market and see increased contributions from our recent investments.”

Read more: Over 7,000 visitors, with 25,000 online, watched on as DP World displayed new Internet of Things (IoT) technologies and intelligent tech solutions at their ‘Innovation Sandbox’ event at Kite Beach, Dubai recently