DP World Enjoys Massive Revenue Jump
DP World’s revenue jumped by 19.8% in 2018 as it weathered trade war threats and other geopolitical uncertainty, according to its annual financial results.
The terminal operator said it generated US$5.6 billion in revenue in 2018 and $1.27 billion in profit – an increase of 5.1%.
Furthermore, the company’s Earnings before Interest Taxes Depreciation and Amortization (EBITDA) spiked by 13.7%.
DP World said its success was driven largely by its investment in leaders in the ports and logistics industries, such as Unifeeder, Drydocks World, Dubai Maritime City (DMC) and Continental Warehousing Corporation (CWC), all of which are performing in line with expectation.
DP World has written a Port Technology technical paper on port-centric logistics in the global supply chain
In a statement accompanying its results, DP World said it expects revenue and volume growth to continue in 2019, but warned the ongoing US-China trade war meant the outlook for global trade was uncertain.
I'm pleased to share that @DP_World has seen a 20% increase of revenue in 2018, totaling $5.6bn. Looking to 2019, we expect continued growth despite the uncertainty in #GlobalTrade https://t.co/IvypQaS7iM— Sultan Ahmed Bin Sulayem (@ssulayem) March 14, 2019
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayam, had this to say on the financial results: “We have made good progress in delivering on our strategy of strengthening our portfolio to become a global solution provider and trade enabler with approximately $2.5billion worth of acquisitions announced in the year.
“These acquisitions offer strong growth opportunities and enhance DP World’s presence in the global supply chain as we continue to diversify our revenue base and look at opportunities to connect directly with the owners of cargo and aggregators of demand.
“Going forward, we aim to integrate our new acquisitions and drive synergies across the portfolio with the objective of removing inefficiencies in global trade, improving the quality of our earnings and driving returns.”