Global port and marine terminal operator DP World has announced its financial results from its global portfolio for the twelve months ended December 31, 2015.
Revenue grew 16.3% to US$3.96 billion, with like-for-like revenue increasing by 5.6%, which is driven by a 4.9% increase in containerised revenue.
The company’s profit was up 28.2% to $970 million in 2015, compared to $757 million recorded in 2014.
Cash from operating activities totalled $1.92 billion, up from $1.48 billion in 2014.
Technical Paper: DP World's T3 Terminal at Jebel Ali
The company saw approximately $4 billion invested in acquisitions, including EZW (UAE) and Prince Rupert (Canada).
Sultan Ahmed Bin Sulayem said: “We 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.
Technical Paper: DP World's T4 Terminal at Jebel Ali
“In 2015, we have invested approximately $5.4 billion with $4 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.
“Macro-economic conditions and geopolitical issues across some locations remain uncertain but we believe our portfolio is well positioned to deliver volume growth ahead of the market this year.
“We 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.”
